Gulf News India Property Show: NRI investment back in real estate sector

Gulf News India Property Show: NRI investment back in real estate sector

Dubai: Real estate investment as an asset class is the top priority for non-resident Indians (NRIs) at the Gulf News India Property Show. UAE-based Indian expatriates at the show, which opened on Saturday, December 10, were eyeing top-tier properties, apartments and plots in major cities across India. According to reports, the Indian diaspora purchased property worth $11 billion in 2019. Since then, this category has witnessed a rising trend. In 2022, it is expected to reach $14.9 billion, with the highest-value properties located in Bengaluru, Mumbai, New Delhi, Hyderabad, and Pune. To buy their dream homes, expatriates want to shell out anything between INR40 lakh to INR3 crore. Inayath Sait, Chairman of Maxpo Exhibitions, said the average price appreciation of real estate properties in tier-one cities across India is eight to 10 per cent per annum. Sait said that rental returns across the same portfolio of properties are three to four per cent per annum. “Commercial properties tend to fetch higher rental returns,” he said. However, land prices, on the other hand, appreciate between 25 and 30 per cent per annum. “It (real estate) is one of the best investment platforms for Non-Resident-Indians (NRIs),” he added. Nitin Pathak, a finance