NRIs in the GCC have discovered real estate investment in India to be a lucrative opportunity.
Investing in real estate has been a lucrative opportunity for Non-Resident Indians (NRIs) in the GCC, and India has been the go-to destination for this purpose. With the weakening of the rupee against the dollar and dirhams, investing in Indian real estate has become even more appealing for NRIs in the GCC. This is because they can now buy more properties with the same amount of money they had planned to invest earlier.
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In the real estate industry, especially during the pandemic, the rise of virtual tours and interactive digital inspections has been revolutionary. Now that they can view properties from the convenience of their homes, NRIs in the GCC can decide with confidence whether to invest in Indian real estate. This convenience has made it easier for NRIs to invest in real estate in India without worrying about travel and other related expenses.
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One of the key reasons why NRIs in the GCC love investing in real estate in India is the reduced capital deductions. The maximum surcharge on both short-term and long-term capital gains has been reduced from 37% to 15%, making it more profitable for NRIs to invest in Indian real estate. As a result, there is more interest in Indian real estate and more NRIs are investing in the market.
The past few years have seen an increase in the number of NRIs returning back to India. This is due to the favourable conditions in India, such as an increase in job opportunities, better infrastructure, and political stability. Due to the increase in demand, real estate in India has become a popular investment choice for NRIs in the GCC.
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Non-metropolitan cities like Ahmedabad, Cochin, and Panchkula have also witnessed growth in the real estate sector. The demand for luxury properties in these cities has attracted NRIs in the GCC, who are willing to invest in properties that offer high returns. This has led to an increase in the construction of luxury properties in these cities, creating a fantastic investment opportunity for NRIs.
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NRIs in the GCC have discovered real estate investment in India to be a lucrative opportunity, in conclusion. The weakening of the rupee, the growth of virtual tours, lower capital deductions, NRIs returning to India, and the growth of non-metropolitan cities have all contributed to making India an appealing investment option for them.
