The real estate sector in India is undergoing a self-organization from being a highly unorganized sector. This has been one of the most crucial factors for India gaining its status as a highly favored investment destination through FDI and funds.
India has a huge market potential. Based on purchasing power parity, it is the fifth largest economy in the world; ranking even above countries such as France, Italy, the United Kingdom, and Russia. It has the third largest GDP in the entire Asia and is also the second largest among emerging nations.
The estimated size of organized Indian real estate sector accounts for US$12 billion of India's economy and has the potential to touch $90 billion in ten years’ time. Relaxation of FDI rules has brought about capital gains in every sector of Indian economy and the government has made and is continuing to makefurther efforts in liberalizing the guidelines and norms for investment through FDI, making them more NRI friendly.
Indian real estate prices in general are on the upswing in all markets across sectors since last two years. Meanwhile the trend to own exclusive properties such as beach houses, homes in the hills and near religious centers as second homes is growing fast.
Returns from real estate investments in India have consistently performed well and even outperformed the other investment options. However, with easy home loan availability by financial institutions in India, real estate has emerged as the best of all the available prospects for NRIs and those looking forward to returning to India permanently.
The policies set out by the government regarding property investment and repatriation, has made opportunities of investments in India even more favorable. Under the present relaxed conditions, Non-resident Indians (NRI) and persons of Indian origin (PIO) can invest in property in India.NRIs can acquire residential/ immovable property in India, rent it out, transfer or sell it. They can also take the rental income and capital investment in the property outside India, subject to the foreign exchange regulations.
The NRI/PIO may use his own funds to acquire immovable property; other than the option of availing home loan from bank for this purpose. The NRI's ‘own funds’ refer to the money received in India by way of inward remittance from overseas out of income earned overseas, personal savings outside India. These funds can be remitted through Non-Resident External (NRE) or Non-Resident Ordinary (NRO) or Foreign Currency (non-resident) (FCNR) bank accounts.Moreover, they can remit sale proceeds outside India for up to two such properties without any RBI approval. Remittance for subsequent properties requires RBI's approval. In case the property is acquired from rupee funds held in India, the remittance depends on the holding period of the property.
Indus India PropertyExhibition2014, which will be held in Kuwait on 19 and 20 September, at the Holiday Inn Salmiya, from 10.45am to 8.30pm, will allow NRIs looking for investment in Indian real estate to access first-hand information on upcoming and current real estate projects across India. The exhibition will present a range of property options, from residential apartments, plots and bungalows, to commercial properties. Special exhibition / festival offers are being extended by majority of the participants for NRIs in Kuwait booking their property during the exhibition.
The exhibition isbrought to you by Indus Fairs & Events (India) Pvt. Ltd in association with Response Events & Exhibitions, Kuwait