Riding on the rising strength of the greenback, and the weakening of the Indian rupee, plenty of NRIs have come forward with queries on investments in real estate in India over the past three to four months. The interested NRI knows that a dollar purchase today implies that he is going to shell out less than what he’d have for the same property two years ago, possibly even after taking into account the appreciated value of the property. Small wonder many of them are willing to make a 100 per cent down payment, cashing in on the strength of the US dollar.
Indian developers who were in Muscat recently to showcase their real estate empires at the Pan-Eastern road show say that the queries of NRIs in the Middle East on Indian property have gone up manifold. The projects displayed included developed plots, land banks, apartments, penthouses, row-houses, villas, and villaments, some around golf courses. Big real estate players and banking institutions have rushed to London recently to tap into the NRI market, hoping to see a surge of real estate investment in India. Voices in the Indian industry that include those from CREDAI, big and medium developers and consultants such as Jones Lang LaSelle have confirmed that queries have poured in for real estate investments from across the country, though the majority remains confined to sections of north, west and south India.
Of course, we would urge NRIs that while looking for the windfall, it would only be in their interest to thoroughly scrutinize titles, permissions and quality before making any investment decision.
With property being the buzzword among NRIs, we chose to feature one of the rising stars of the realty business in India, Tarun Sheinh. As you read the story, you’ll realize that he’s literally done his homework well, and that amounts to more homes selling.
Elsewhere in the magazine we have write-ups about an investment meet organized by the OIFC in Indonesia, and a feature on one of the world’s big ticket investment destinations—the Delhi-Mumbai Industrial Corridor.
We have a story on the 1913 Berbice Revolt in Guyana, a forgotten chapter in the difficult history of Indian indentured workers that was scripted a century ago. We’ve also chosen to bring you a chapter on the founder of the Gadar movement, Lala Har Dayal, from our recently published book, The Gadar Heroics. The movement started exactly 100 years ago in California.
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