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Non Resident Indians
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Riding the Boom in real estate
The Indian real estate sector has witnessed a revolution, driven by the booming
economy, favourable demographics and liberalised foreign direct investment (FDI)
regime. It has emerged as one of the most appealing investment areas for domestic
as well as foreign investors. As incomes grow, and retail makes inroads, shopping
malls and multiplexes, luxury and budget hotels, resorts and serviced apartments,
residential townships and condominiums, IT Parks and Special Economic Zones are
not the preserve of Tier I cities like Delhi, Mumbai, Bangalore, Hyderabad and Chennai
anymore.
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Inviting Global Attention
As the Indian Government allowed the foreign direct investment in real estate, host
of investors have shown confidence in the enormous potential of the real estate
market in India. The global real-estate consulting group Knight Frank has ranked
India 5th in the list of 30 emerging retail markets and predicted an impressive
20 per cent growth rate for the organized retail segment by 2010. Supported by infrastructure
development, contemporary architecture and state-of-the art facilities in aesthetically
designed environs, India’s real estate has much to offer to the NRIs.
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NRI Investment in Real Estate
All persons residing outside India holding Indian passports and also people of Indian
origin have been granted permission by the Reserve Bank of India (RBI) to invest
in both residential and commercial properties in India. To an NRI, a base in the
homeland also brings with it a sense of security. The number of NRIs who are investing
in property for sentimental reasons and for better investment returns is quickly
multiplying. The NRI investor can raise finances from financial institutions to
purchase an apartment. Banks and other financial institutions in India are facilitating
the NRI investment in property speedily and efficiently.
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Future Ahead
With the economy surging ahead, the demand for all segments of the real estate
sector is likely to continue to grow. The Indian real estate industry is likely
to grow from US$ 12 billion in 2005 to US$ 90 billion in by 2015. Given the boom
in residential housing, IT, ITeS, organised retail and hospitality industries, this
industry is likely to see increased investment activity. Foreign direct investment
alone might see a close to six-fold jump to US$ 30 billion over the next 10 years.
And that makes India a haven for NRI investments (source: indiaground.com)
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Investing in BPTP
Faridabad is witnessing a new chapter in growth and in next few years this part
of NCR will be the finest destination for living and industry. The factors that
have led to the speedy development of the region are primarily due to the extending
the impending Metro link to Haryana, approval of flyover construction at Badarpur
border, two expressways namely Western Peripheral Expressway and Faridabad-Noida-Greater
Noida Expressway proposal of setting up of new Industrial Model Township(IMT). These
model townships will serve as the global model for the industrial hub and will integrate
industrial, commercial, residential and institutional sites.
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