What kind of properties do NRIs favour back home?

Sharjah - Demand for apartments in gated residential communities increasing

With the Indian government's recent push towards creating the smart cities of the future, non-resident Indians (NRIs) in the UAE are increasingly looking to invest in a property back home.
Towards that end, 99acres.com is showcasing some of the most sought after real estate projects in various cities across the country at the first-ever Indian Property Investment Exhibition, which concludes today at Expo Centre Sharjah. The exhibition brings together over 45 exhibitors who will be showcasing a number of residential and commercial projects, as well as investment options in India's smart cities.
"We are showcasing properties across Kerala, Chennai, Bangalore, Hyderabad, Pune, Mumbai and Delhi," said Shekhar Bhardwaj, director of the Indian Property Investment Expo.
"These are among the fastest-growing cities in India. The Indian government has been very particular about its push towards the smart cities of the future. We are showcasing everything from residential units, commercial units, land plots, and apartments."
Speaking on investor interest from the UAE, he said: "People that are mostly looking for investment opportunities are eyeing apartments that they can rent out, and generate an additional source of income for themselves. The top five cities of interest among investors right now are Kerala, Bangalore, Chennai, Pune and Mumbai."
A recent study amongst NRIs by Sumansa Exhibitions revealed that about 63 per cent of the survey participants showed an interest in buying properties in India in the coming months, compared to 61 per cent last year.
Exhibitors at the event noted that the demand for apartments in gated residential communities was increasing.
K. Prithvi Reddy, CEO of Vooty Golf County, a project by Dream Valley Group, noted that interest remained high for residential projects in Hyderabad. The group was at the exhibition to promote Vooty Golf County to interested buyers.
"The project includes an 18-hole international standard golf course, with 400 residential units covering 400, 600, 900, and 1,200 square yards. Ten per cent of the construction are gold-facing pool villas," Reddy said.
Another exhibitor, Rohan Group, was also showcasing its projects across various cities in India.
"Our focus areas for real estate remain Pune, Bangalore, and very soon Mumbai," said Ashwin Lunkad, director of Rohan Builders. "Founded in 1993, Rohan group has been consistently been awarded the prestigious DA2+ rating for the last nine years by CRICIL, India. It aims at building a healthier life style for the city dwellers and greater sustainability for the ecosystem having diverse interests in real estate, industrial contracting, infrastructure development and logistics. Be it residential or commercial construction, we have always banked on innovation, team work, and a high degree of technical experience which has helped us achieve an enviable track record of completing 97 per cent of our projects on time."
Samir Sureja, director of Gurukrupa Group, noted that the time to invest in safe residential properties in India is now.
"Phase one of our Marina Enclave in Malad is ready. The whole project consists of nine towers each with 23 floors offering amazing views. Our other projects that we are showcasing today include the five-tower Guru Atman residential complex in Mumbai."
- rohma@khaleejtimes.com

• India