Why is Mumbai Realty Irresistible for NRIs?

Bangalore: The appreciation in dollar value is alluring NRIs to invest in India’s real estate sector.  More number of NRIs pouring in Mumbai to invest in the city’s real estate sector. Om Ahuja, CEO - Residential Services, Jones Lang LaSalle India, stated that “Generally, NRIs are looking at this period as an extremely advantageous one for realty investments. The Government has been making proactive policy changes clearly aimed at routing more NRI investments into India," reports Anuradha Ramamirtham and Rajiv Dogra of TNN.

Manju Yagnik, Vice-Chairperson, Nahar Group, said that "We have experienced a surge in NRI investments every time the dollar gets stronger. Considering the current scenario where the rupee has depreciated by nearly 23 percent in the last six months or so, NRI investments are bound to increase significantly."

NRIs have gained more confidence as many among them have already invested in Indian properties and witnessed good return on investment.

"With exchange rate of the dollar rising, this is augmenting interest among expats for investing in properties in India, especially from locations like Dubai, Hong Kong and the UK. The interest levels have gone up in the past four months and Mumbai being a rank one city always has a higher traction," according to Shveta Jain, Director, Residential, Cushman & Wakefield India.