Indian real estate, once known to be exclusive to the local population alone, is not the same anymore. A substantial chunk of the real estate market comes from the investments made by Non-Residential Indians (NRIs) and People of Indian Origin (PIO). Not only has it become an emerging market in India, but is also competing with local investments shoulder to shoulder.
Among the many NRI investments the real estate sector receives, a considerable portion of it comes from Indian home buyers in Singapore. Indians are among the top 5 property buyers in Singapore, ranging mostly between mid and high range preferences of premium apartments, villas and plots in burgeoning neighborhoods.
Take a look at some of the top reasons why NRIs from Singapore are choosing to invest in India’s real estate market.
- One of the biggest driving factors of investment here is the emotional connect one would have to his/her home country.
- There is no restriction on the number of properties one can invest in, inclusive of both residential as well as commercial properties in India.
- The absence of a cap on the number of property purchases gives NRIs an advantage of earning a higher return on their investment in the form of rental income, leasing or selling.
- The close proximity of both the countries induces a sense of security, as the investor does not have to endure long trips for any order of business.
- Many NRI investment options in India are aimed at growing real estate investment returns, and eventually serve as homes during the time of retirement.
The best investment options in India for NRIs is real estate investment, especially in a lucrative city like Chennai. Most commonly known for its beautiful landscape, delicacies and employment opportunities, a lot of people choose to build their homes in Chennai. It is as much a residential destination as it is a tourist hub. NRI investment in Chennai opens the possibilities of increased rental income, leasing and selling.
The top 3 locations for NRI property investment in Chennai are:
Mogappair – Popularly known for its all-around connectivity, proximity to modern day lifestyle conveniences and rapid infrastructural development.
Old Mahabalipuram Road (OMR) – Popularly known for its close proximity to the IT hub of Chennai, convenience of commute, and close connection to other premium neighbourhoods such as Sholinganallur.
East Coast Road (ECR) – Popularly known as the vacation spot of the city, most people choose to live here for its coastal feel, lifestyle amenities and luxurious properties, ideal to be transformed into vacation homes.
For all NRIs from Singapore looking for investment opportunities in India must check out some of the best and most affordable options by Casagrand developers. The advantage of investing with Casagrand is that not only do you get a luxurious property in a beautiful city like Chennai, but also rental assurance assistance, which can help you find the right people who will treat your house like home. At a payment of Rs.1 lakh only, you can legally finalize the property in your name and complete the follow up process and payment much later. In addition, Casagrand also often issues free tickets for many NRIs for property visits, making it 100% hassle-free to invest with South India’s best real estate developer, Casagrand.