Interest in buying property in India is rising among non-resident Indians in the UAE as purchasing power increases on the back of the depreciation of the rupee against the dollar. This comes as Gulf News gets ready to host the India Property Show at the Dubai World Trade Centre on June 11 and 12.
Considered an ideal platform for developers and investors alike, the Gulf News India Property Show is organised by Maxpo Exhibitions, in association with National Real Estate Development Council (NAREDCO), and will feature over 75,000 projects from more than 70 reputed developers representing 50+ Indian cities. Both built and ready-to-occupy units as well as ongoing projects will be on display during the show. All projects on display are RERA approved, while funding institutions like banks will also be present to facilitate home loans to investors in the respective projects. The excellent property deals are expected to woo the world’s largest expat Indian demographic here in the UAE. Indian expats are registering keen interest in the event and eager to explore deals on offer in India’s major metros.
Investment avenues
Speaking to Gulf News, Mohan George Pulinthitta, Partner & Managing Director for a freight and logistics company in the UAE, says, “After due diligence, I would consider investing in Indian real estate a wise decision. The Gulf News India Property Show, for instance, allows me this opportunity, to present options that fit my choice and budget. I am looking to check for apartments in large cities like Mumbai, where there is always a great demand due to the growing population and robust economy. I do not prefer to buy apartments in smaller cities where I do not foresee the proper appreciation from investing in them where supply exceeds demand.”
- Mohan George Pulinthitta, Partner & Managing Director for a freight and logistics company in the UAE
That said, India’s Tier-II cities and towns are registering heightened interest among buyers. Dr Sahitya K. Chaturvedi, a UAE-based chartered accountant says, “I am looking for an investment property, exploring residential units in Bengaluru, Ahmedabad, Pune, Chennai, Goa, Delhi and Dehradun, as these zones see a surge in urbanisation and rising household income. The Gulf News India Property Show, which takes place right before summer vacations, allows me to evaluate options by reputed developers, helping to schedule a visit to the investment site when we go for a family holiday. I am also considering checking the home loan requirements, preapprovals and financial arrangements for the property purchase.”
- Dr Sahitya K. Chaturvedi, a UAE-based chartered accountant
Safety and security
Gated communities in India have also been popular among NRIs, with the sense of safety and enhanced security they provide residents. Amit Vardhan, CEO of an advertising and marketing company in the UAE, says: “Indian expats in the UAE come with specific objectives of increased earning, a better lifestyle and a goal to own a house and invest in India for retirement, investment growth or regular income. I have done the same, investing in residential property and land in NCR in India that provides considerable property appreciation and good returns on investment. In this event, I need to look for opportunities in the upcoming gated community villa projects in NCR, mostly Gurugram or Lucknow, as they provide a safe and secure environment, amenities, power backup, consistent water supply and good growth potential.
- Amit Vardhan, CEO of an advertising and marketing company in the UAE
Building on aspiration
Avenues such as the Gulf News India Property Show are helping NRIs realise their dreams of owning a home in India with ease. Speaking to Gulf News, Sreedhar Bevara, an award-winning leadership author, innovation advisor and CEO of UAE-based management & tech consulting firm says, “A personal home was a distant dream for ordinary folk, but nowadays, it has become much more accessible to new world aspirants thanks to events such as the Gulf News India Property Show. I am personally looking to explore options for a luxury villa at the event that provides international facilities and an ecosystem within our hometown in Vizag, Andhra Pradesh.”
- Sreedhar Bevara, CEO of UAE-based management & tech consulting firm
