Founded in 1975, Purvankara (BSE: 532891 | NSE: PURVA) is a real estate developer in India. The company has completed 36 residential/commercial projects spanning 7.80 million square feet and currently, has 29 million square feet of projects under development. Headquartered in Bangalore, the company has a market cap of Rs 2,296.79 crore.

Indian real estate is going through a phase of transition in the process of its development. “Anticipating and gearing up for a change”, seems to be the emerging motto of the Indian real estate sector as it is transforming from being once dominated by unorganized family-run businesses to one, which adopts a more corporate approach. The resultant and welcoming wave of new thinking with emerging real estate formats is responding to changing lifestyle needs.
The real estate industry is a capital intensive sector and India is continuously becoming a favored destination globally for investors, developers and Non-Resident Indians (NRIs), as now it is driven largely by investor-friendly government policies and increasing globalization. The second largest employment generation sector after agriculture (The segment is expected to generate 7.6 million jobs during the same period. It is also expected to generate more than 17 million employment opportunities across the country by 2025), real estate contributes about 6.3 per cent to India’s Gross Domestic Product (GDP). The foreign direct investment in this sector is expected to touch US$ 25 billion in the next 10 years from its current US$ 4 billion.

Profitable move for NRI Buyers
India may have more than one million people in the Indian diaspora, but most of these expatriates have a strong connection with their homeland. As a result, most expatriates seem to prefer having a home in India, just as a fallback in case something goes wrong and they want to come back. NRI demand has also increased on account of global economic uncertainties, and consequently, lack of alternative investment opportunities. Moreover, a depreciating rupee also makes properties in India almost 20 to 30 per cent cheaper for NRIs. According to the World Bank, India led remittance flows globally received $70 billion in 2013. An estimated 4 to 5% of this amount is allocated to residential real-estate purchase.
Proceeding in the Right Direction
NRIs might be unaware of the process of buying a property in India. There are also some necessary safety measures to be followed before the whole process of it. Here are those necessary tips that can be helpful in such scenario.
Ground Checks