Indian rupee today nosedived to its seven week low at 76.39 per US dollar levels. Real estate developers have found a ray of investment inflows from Non Resident Indians (NRIs) as falling rupee will lead to lower property prices for this segment of buyers.

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Speaking on the rupee to dollar benefit for NRIs, Prateek Mittal, Executive Director at Sushma Group said, "Interest rates are at the lowest level these days. Current situation gives the NRIs an ideal opportunity to secure a lifestyle in India that they are accustomed to. Investors look for quality development, especially the NRIs who are very particular about the ROI and security. At this time the projects by reputed developers that are attractively-priced will get NRI attention as they will see good appreciation in mid-to-long-term." He said that NRIs pay in dollars and the recent fall in rupee against the US dollar has led to price depreciation for them and hence post-lockdown, NRI's investment in Indian real estate is expected to soar.

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Sanjeev Arora, Director at 360 Realtors said, "The NRI investment in Indian Realty remains largely COVID proof. NRIs are coming in big volume in Indian Real Estate primarily driven by the dip in the value of Indian Rupee alongside the renewed interest in Real Estate as a risk-averse safe investment destination. In addition to residential properties in affordable and mid-income markets such as Pune, Noida, Bangalore and Hyderabad, the Indian expats are also scouting for income-generating commercial assets in these places.

Yash Miglani, MD, Migsun Group said, "Indian realty has always seen an active interest from the NRI investors, henceforth a dedicated section of projects are planned to cater them. The last few years have seen a remarkable shift in NRI investments from residential to commercial spaces, due to the promise of good capital appreciation. It is likely to continue post lockdown."