Indian Real Estate a lucrative Investment Option for NRI investors
Mumbai (Maharashtra) [India]: For Non-Resident Indians (NRIs), Indian real estate has recently become a compelling investment opportunity. The market offers attractive returns and long-term stability due to a booming economy, supportive government policies and a growing middle class. Let’s look at the few reasons, highlights, opportunities and benefits for NRI investors.
1. Strong economic growth: India's continued economic growth is driving the rise of the real estate sector. India's GDP growth is expected to reach 9.5% in 2022-23, according to the Reserve Bank of India (RBI).
This robust economic growth creates a favorable environment for real estate investment, leading to increased demand for residential, commercial and retail space. Thanks to the Indian government's focus on infrastructure development and friendly regulation, the real estate industry is poised for further expansion, attracting her NRIs eager to tap the country's economic potential. 2. Government Efforts: The Government of India has taken several initiatives to attract her NRI investment in real estate.
The introduction of the Real Estate (Regulation and Development) Act 2016 (RERA) brought transparency and accountability to the industry and ensured the protection of buyer interests. Additionally, the government's focus on affordable housing programs such as Pradhan Mantri Awas Yojana (PMAY) has made the sector more accessible for NRI investors. 3. Rising middle class and urbanization: India's rising middle class and rapid urbanization are major drivers of real estate demand.
Read more on livemint.com
