Realtors Eye NRIs for Indian Housing Projects

Nearly 40 developers participating in HDFC Indian Homes Fair here would showcase thousands of properties.
NRIs have been known to have a natural affinity towards their homeland and the depreciation of Indian rupee against the dollar makes has made it a win-win deal, experts said, while adding that the benefits from rupee fall is however only for a short period of time.
The developers are also trying to project Indian real estate market as an attractive destination in the backdrop of sinking property prices across the world.
Realty developers from India plan to hold similar fairs in other major global centres in the U.S. and Europe as well.
But some NRIs stay away from investing in Indian real estate properties owing to lack of clarity on regulations and legal issues, as also due to insufficient information on projects and prices.
Karnad said that HDFC would look to work towards removing the misconception that "it is very complicated for NRIs to take out India property applications from the UK.

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