Looking for a home to invest in India? Look no further. Gulf News India Property Show, organised by Maxpo Exhibition along with Gulf News and Confederation of Real Estate Developers' Associations of India (CREDAI), kicks off on June 10 at the Dubai World Trade Center, and has options for every budget and need.
The two-day event will see more than 70 builders from across over 50 cities in India displaying over 75,000 projects, which range from off-site to ready-to-move-into properties. All the projects on display are Real Estate Regulatory Agency-approved. Properties start at INR3,000,000 (Dh133,488) and special discounts are available on-the-spot bookings.
M I Sait, Chairman and Founder of Maxpo Exhibitions, said ahead of the fair: “The realty expo is coming at a time when prices have stabilized with flexible repayment options for investors. Indian realty sector is slated to grow at 30 per cent over the next decade for a market size of around $180 billion by 2022 from $93.8 billion in 2017.”
Anuj Puri, Chairman of the 5th Edition of the CII Real Estate Confluence 2023, says in the ANAROCK document titled ‘India The Housing Market Boom 2023’, “Quarterly housing sales reached alltime high with approx. 1,13,770 units sold in Q1 2023 across the top 7 cities amid significant rise in demand for high-ticket priced homes (>INR 1.5 Cr). quarterly housing sales reached alltime high with approx. 1,13,770 units sold in Q1 2023 across the top 7 cities amid significant rise in demand for high-ticket priced homes (>INR 1.5 Cr).”
Some factors that have helped grow the interest of overseas Indians in realty back home are the emergence of nuclear families, rapid urbanisation and rising household income, adds Sait.
Experts also contend that rent inflation, the depreciation of the rupee, and the ease of buying have piqued a real-estate interest.
Deepak Goradia, Chairman and Managing Director, Dosti Realty, explains: “The Indian real estate sector has seen remarkable growth especially post 2021 with non-resident Indians (NRIs) playing a pivotal role. Rent inflation, the depreciation of the rupee, comparatively lower interest rates and supportive government policies are some of the prominent factors fueling demand. The simplification of property transactions and provision of tax benefits, also make it a lucrative option for NRI investment. From a sentimental perspective as well, many NRI’s are also looking for properties closer to their families.”
The real estate sector has also seen bullish growth in the past couple of years, and the rapid development of Tier 1 cities such as Gurgaon and Hyderabad only makes investment that much more alluring. Allu Govinda Reddy, Chairman, Greenspace housing and engineers pvt. Ltd, explains: “The return on investment is very good, especially in cities such as Hyderabad, Bangalore, and Gurgaon because these are expanding dynamically.”
Covid-19 changed the reality game says Nikunj Sanghavi Managing Director, Veena Developers. He says: “Post Covid-19, Indian real estate has emerged as a lucrative investment option with potential capital appreciation. With the digitalisation of the real estate industry in India and with the use of advance construction technologies like MIVAN shuttering, NRIs can now conveniently explore, evaluate, and invest in properties from the comfort of their homes, reducing the complexities and uncertainties traditionally associated with NRI investments in Indian real estate making it more attractive and accessible for NRIs and making their dream homes delivered with much more accelerated traction.”
Rentals have also risen, offering more returns to investors. “NRIs invest in Indian real estate for investment purposes wherein the rental yield which was typically between 2 percent and 3percent has now shot up to 3percent-5 percent, which makes real estate a good investment decision,” he adds.
It’s also become much easier to own a home, without being out of pocket. The country’s leading bank State Bank of India, for instance, offers home loans starting from 7.90 per annum for a repayment period of up to 30 years. The processing fee is 0.35 per cent of the loan amount. Women borrowers are offered concessional rate of 0.05 per cent on SBI home loans.
Dr Dilip Kapoor, Managing Director D Kapoor Land Developers, concludes: “NRI’s have a superb opportunity to reap promising results by entering the markets at the right time.”
At a glance
June 10-11, 10 am to 7 pm
Dubai World Trade Center – Hall 5 Concourse 2
