With falling rupee, NRI’s taking interest in real estate in India:

As the value of rupee has been constantly falling over a period of time in the international market, the interest of Non- Resident Indians (NRI) in real estate market of the country has been increasing during such time. The non resident Indians have clearly shown their interest in the housing projects in the country as the best investment option at a time when their returns could be much as compared to investments at any other time.

Mr. Vijay Kumar Sharma, Director and CEO of LIC Housing Finance Ltd, was of the view that NRI’s have started taking keen interest in the real estate markets of the country due to appreciation of the dollar. Mr. Sharma also added that Bangalore Metro Rail Project would also add up in transforming the real estate sector in the city in the next three years in line with what happened in Delhi.

Referring to a recent study he emphatically said that the Bangalore real estate market is looking up again after two years and the demand has also gone up in recent years. LICHFL had started a three day property expo in the city with participation of around 50 builders who were showcasing their 250 projects.
The major reason for the growth of the real estate sector in the city, he attributed to the Metro project and the lifestyle and development of the people.