The ups and downs of the Commercial real estate sector in India in recent years are building a path for the NRIs to gradually increase their investment in this sector.
It has been observed that NRIs are keen to acquire commercial real estate in India. Thanks to the new policy reforms by the government.
Depreciation of the Indian rupee, transparent transactions, the introduction of RERA, the FDI route for retail brands to make entry into the Indian market, and amplifying urbanization are 4 major reasons why NRIs are keen to invest.
1. New Government Policy and Reforms:
RERA has built a feeling of trust and assurance in the hearts of the NRI buyers to invest in commercial real estate. Also, the infrastructure development of the country lifted by the government is encouraging NRIs to park their monies in the Indian market.
2. Financial Aspects that are Pushing NRIs:
High rental yields in commercial assets as compared to residential property, excellent capital appreciation, and low maintenance costs are pushing NRI investors to dig for opportunities in commercial real estate in our country.
3. Easy Loan Facilities:
Our government has granted permission to the NRIs as well for availing loans in order to purchase property in India from the best real estate companies just like the facility is available for the local residents. Moreover, the NRIs can also claim tax benefits under Section 24 and Section 80C of the Income Tax Act.
4. Legal Banking Procedures:
When you seek a loan from any bank they first evaluate the title papers and link documents of the property to safeguard their funds. Thus pursuing a loan from a bank enables one to trace the goodwill of the property. Nearly 50% of the vacant commercial office space has been occupied by the NRIs with this clear chit facility from the bank.
Bengaluru, Mumbai, Chennai, Pune, Hyderabad, and Delhi-NCR are the cities that seize a vibrant demand for office spaces, malls, grade offices, and co-working spaces in the Commercial Real Estate Sector in India.
Gurugram in Delhi-NCR is grabbing the attention of NRIs to invest in commercial real estate in Noida. The properties available here are very much affordable compared to the other parts of Delhi-NCR.
To wind it up the changing market dynamics are showcasing a gradual increase in investment by NRIs in the commercial realty segment over the past couple of years. With more and more developers now offering projects of international standards, the NRIs interest in investment in the best real estate companies in India particularly will surely swell in the coming times.
The current market scenario gives a feeling that 2019 will see many NRIs finding opportunities to acquire Property in the Indian commercial real estate division.