India is a rapidly progressing country that recovered much more quickly from the economic slowdown as compared to other established economies of the world. It has emerged as a robust economy and this is why investments in Indian real estate continue to attract NRIs and investors from overseas.
Investments in Indian market are so lucrative because they not only yield higher returns but also give a sense of security. The private sector that boasts of a dynamic and competitive nature has been a key driver for the economic growth of the country. It presents considerable scope for both foreign and NRI investments in the real estate market.
The Foreign Exchange Management Act, 1999 (FEMA) defines NRI as an 'Indian citizen' or a 'Person of Indian Origin' (PIO). It broadly regulates matters related to NRI investments in India- investment in immovable property, foreign exchange, bank deposits, government bonds, investment in shares, units, securities and foreign direct investment.
As far as investments from foreign investors are regarded, they too are found looking for property in India. The only country likely to see stronger growth in the next five years is China much easier for foreigners to purchase property in India than in China. Sources suggest gross domestic product grew by 5% in India last year with higher expectations for the coming year expected.
Foreigners have found that India offers them good value for money with reports suggesting strong price growth in the next few years with an increasing demand for property to buy or rent. The country’s currency is the rupee whose value is generally stable and is linked to a basket of currencies. They believe it is a good idea to maintain a stock of smaller currency and are looking forward to explore property market of India.
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