NRIs or non-resident Indians prefer green buildings, luxury properties and eco-friendly homes more. The increasing demand of these types of properties will definitely shape up the real estate sector in India. The participants, developers and exhibitors of IPS or Indian Property Show have revealed that NRIs will play a vital role in improving the real estate sector if they look for the concept of affordable housing. In local market, the existing demand is weak. In Indian real estate market, there has been slowdown for the past one year or so. Director at Investors Clinic (International Business & Strategy) stated that at the IPS.
According to him, the developers are providing appealing discounts with freebies, such as air conditioners, modular kitchen, and laminated flooring to prospective buyers in abroad or in the country. Sheth Creators is also providing specific payment plans, such as possession linked plans and subvention schemes with discounts from 5% to 15%. Marketing & Sales head, Shapoorji Pallonji Real Estate, Cyrus Engineer said that NRIs are feeling more comfortable with the economic growth of the country with the stable new government. Hence, India has become best suited option for real estate investors.NRIs to Shape up Real Estate Sector India Sheth Creators
With having the positive signs for real estate market and overall sentiments, the upward trend has been seen with these improvements on realty index. Today, retail outlets and office spaces are generating about 9% to 11% of total rental income. The residential market in Pune, Bangalore, Kolkata and Chennai is witnessing great demand with the 3.5% of annual growth of capital appreciation.
The real estate is about to grow with very stable political scenario in the country, according to Artha Property spokesperson. The real estate industry is about to witness phenomenal growth and positive signs. Consumers will also go further with reputed real estate developers and they are also seeking regular markets.
NRIs have around 10 percent of share in customer base and Sheth Creators have great market presence by gaining confidence and faith of customers on their projects. According to them, having local reach to NRI markets is very important. According to Hiral Sheth from Sheth Creators, NRIs are the more basic segment for real estate developers in housing markets and they are known to be the trend setters in realty market.