siliconindia | | December 20189by demonetisation and other major policy shifts. To at-tract NRIs, projects were built with the full range of ame-nities and tended towards luxury living spaces, which have always been the choice of NRI investors. Build-ers were marketing to NRIs with a host of special offers and features.Although Hyderabad has always been a strong market for NRI real estate investments, stalled projects were a major concern. The lack of transparency and communica-tion with builders made NRIs apprehensive about invest-ing in real estate despite the hope for lucrative returns. Fortunately, the implementation of the Real Estate Reg-ulatory Act (RERA) will go a long way in formalising the sector and inspiring consumer confidence in the real estate market. Previously, although many projects were being launched regularly, there were no guarantee for completion of projects unless you were dealing with a re-puted developer. RERA ensures that a deadline for project completion must be enforced. Without RERA registration, builders will not be al-lowed to promote or sell any project. RERA also man-dates that builders must disclose all the information for registered projects, including details of promoters, lay-out plans, land status, schedule of execution and status of various approvals. This will effectively weed-out any unscrupulous players from the market and it will only al-low credible builders to flourish. The transparency and accountability amongst builders resulting from RERA has instilled a new level of trust in the market. RERA's emphasis on consumer protection and standardisation of business practices will only enhance NRI investment. As the market becomes conducive to invest in real estate, NRIs are once again looking to Hyderabad for their investments. Many areas in Hyderabad are gaining interest from NRIs for their location, connectivity and in-vestment potential. Both Nallagandla and Chandanagar-Miyapur are growing areas that have strategic proximity to the IT and Finance hubs. While Nallagandla is rapidly developing and becoming a residential hotspot, nearby areas, including Lingampally and BHEL Township are also gaining interest amongst NRIs. Manikonda and Kondapur are very popular localities as well. These ar-eas are characterised by their proximity to industry hubs, social infrastructure, transport centres and connectivity throughout the city. NRI property portfolios have largely been based on market cycles and dynamics. Due to the slowdown in the residential segment, NRIs have also looked to invest in commercial real estate, which offers good rental yields, as well as capital appreciation. In both cases, projects with excellent property management is crucial as it maintains the value of the property. Purchasing a home from a build-er with their own property management services would be an advantage. Overall, the current depreciation of the rupee makes real estate investment in Hyderabad a smart move for NRIs. The rate of appreciation in Hyderabad is much more due to the fast-paced infrastructural development. Increased migration is providing more and more rental opportunities. The slowdown has been offset by policy reforms and the market is seeing strong signs of revival, and the positive impact of RERA will move the sector to-wards greater transparency, efficiency and accountability ­ to the advantage of NRIs and all. The slowdown has been offset by policy reforms and the market is seeing strong signs of revival. And the positive impact of RERA will move the sector towards greater transparency, efficiency and accountabilityRakesh Reddy
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