NRI Real Estate Investment in India may rise 35 percent, in 2014: survey

New Delhi: Property developers expect in the real estate survey has 35 percent surge from overseas Indians (non-resident Indians) and Bangalore turning out to be the favorite, according to a survey by the Ministry of Commerce and Industry of India Joint Chamber of Commerce (ASSOCHAM).

Tap the growing interest, which is at a time when the global economy has stabilized and is showing India, where real estate company is composed of a conductive performance shows, exhibitions and opening representative offices overseas to pull out all the stops signs of a strong recovery.

Developers also expanding its existing distribution chain, and entered a strategic partnership to encourage investors from the cash-rich segment, industry insiders said.

The survey was conducted in Delhi NCR Corporation, Chandigarh, Mumbai, Kolkata, Bangalore, Hyderabad, Ahmedabad, Pune, Dehradun, Chennai, etc., of which nearly 850 real estate developers for

Bangalore is a favorite of overseas Indian real estate investment destination, followed by Ahmedabad, Pune, Chennai, Goa, New Delhi and Dehradun, the survey showed.

The survey is mainly coming from living in the United Arab Emirates, United States, Singapore, Australia, Britain, Canada and South Africa overseas Indians.

This year, the demand for high-end multi-property and commercial property, the developer said.

"With the recovery of the global economy, particularly in the United States and Europe, people are more optimistic, looking for real estate investment."

"Both large and small developers are focused on NRI base in the United States, the United Kingdom and the Asia Pacific region this year," ASSOCHAM Secretary General DS Rawat's said.

According to the survey results, Ahemdabad (32%) is still the most stable market, demand and absorption of residential and commercial space.

Overseas Indians believe Ahmedabad investments, government regulations and loose property investment safe place. Pune is in the third position (30.5%), according to the survey, while Chennai (28%) are in the first five points in the fourth and Goa (23%).

In Delhi, this year has been 21% rise in queries, rather than the past year, most of them have been in the residential market.

Cater to the growing demand for high-end market, Delhi also appeared promising market, real estate, the survey showed.
SOURCE : WEB