NRIs preferring to invest here in current market scenario

NRIs preferring to invest here in current market scenario. The reasons are quite simple- higher rate of returns, better periodical returns on investments and a consistently- weak rupee. No wonder, the Non Resident Indians are preferring to invest in India over international destinations. On one hand most of international property markets are still struggling to recover from the impact of recession, on the other hand Chandigarh managed to grow consistently over the last decade. Properties those were sold at basic price of Avg Rs 1800/SqFt in 2008 are today can sell on Avg RS 3100/SqFt in the tricity & paying returns of more than 15% per year ,where as properties in most of international markets are still struggling and not able to pay the original cost of the property. The consistent growth of property return over the year and profit booking expectation in the long run with the recovery of rupee making India as a perfect destination to invest. As per one NRI “We were lucky to have invested in a flat in Orchid Petals Gurgoan back in 2003. The property that we had brought for Rs 49 lakh is now worth Rs 1.8 crore. All the property we had brought in the USA has gone through devaluation. If we were to sell anything today, we will not even be able to our original investment back,” said Malay Mondal, an IT professional who works with Apple Inc in Chicago.

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