Property purchase in India by NRI’s is always a favored choice especially when there is a recession like today. This is the golden opportunity for them to grab. Presently some attractive offers and hefty discounts are offered by renowned builders and developers which may benefit them. With a non-stabilized market due to COVID impact, Real Estate Market can see a positive ray of home from NRI’s who are in favor to invest money in real estate in the pandemic.

After a few months of cure from COVID-19 impact, the industry especially in Maharashtra, Delhi, and other affected regions is now again experiencing a downtown. In such a scenario, NRI’s could be a hope for them. Because COVID-19 is not that harsh in all the other countries except a few. And there are many other reasons cause of which there could be a surge in property purchase by NRI in India.

NRI’s whoever is thinking about investing money this year into the properties may think of buying property right now. Because the real estate property prices are tremendously down and many builders are offering great deals on the properties to attract people to buy properties in this pandemic too!

Why There Could Be a Surge in Property Purchase By NRI in India?

NRI’s are great property investors because they have great buying capacity. And this pandemic has created one more reason to invest in real estate let us see why?

Decrease in Property Prices

With the decrease in property prices and increase in economical instability of Indian buyers, a huge gap is created in-between the number of available properties and the number of buyers. With the huge impact on the economy of the people residing in India, they have lost their earning sources and are willing to sell their properties even at lower prices so as to deal with their debts and other liabilities.

Developers are also giving a hefty amount of discounts and other offers to lure their customers and trying to achieve more sell in this pandemic situation.

The Rupee Depreciated To A Record Low

As of today, the 1 dollar equals 74.41 Indian Rupee, which is quite low and is a perfect time for NRI’s to invest in Indian Real Estate. The present situation is not in control and the chances are it will go further down or will not get improved for at least a few months from now.

So, they can now afford a home of higher configuration within their buying limit. Looking at the other investment sources real estate could give a long-term and full-fledge good return on investment. The Fixed Deposit rate of interest has dropped as low as 5.5 % and with the present situation, it is not going to get recovered soon.

On contrary, one can take the benefits of a home loan which is available now at quite a low-interest rate than before. The home loan interest rates have been slashed down to as low as 6.70% which was before nearby 10.00%.

 

The Best Property Options in Mumbai for NRI’s

There are multiple property options available for NRI’s to buy property in Mumbai. We are highlighting a few of them as per the following

Man One Park Avenue

Man One Avenue at Ghodbunder road, Thane is a new project. The project offers luxurious 1 BHK, 2 BHK, 3 BHK, and 4 BHK apartments. This project is spread across an area of 6 acres of wide land. Presently the project is under construction and the possession of the property will start from  Jun 2023.

Developer: Man realty

Sheth Beaumonte Sion Circle

Sheth Beaumonte is located at one of the prime locations of Sion. Multiple flats configurations are available like 2 BHK, 3 BHK, 4 BHK, 5 BHK, and 6 BHK in this project. Presently the project status is under construction and the possession for this property will be provided from Jul 2023.

Developers: Sheth Creators and Sahana Group of companies.

Dosti Eastern Bay Wadala East

This grand project, Eastern Bay at Wadala Mumbai features premium 2 BHK and 3 BHK Residential Apartment. The project is presently under construction and will start giving possessions from March 2027. Eastern Bay Wadala comprises 5 magnificent skyscrapers 172 m tall.

Developers: Dosti Realty

Lodha Upper Thane

There are three flat configurations available, 1 BHK, 2 BHK, and 3 BHK under this wonderful project.  The apartment at Lodha Upper Thane has a mesmerizing view of the Ulhas River.

Developers: Lodha Group

Adhiraj Capital City Kharghar, Navi Mumbai

1 BHK, 2 BHK< 2.5 BHK, and 3 BHK property options are available in Adhiraj Capital City. The project is a huge township of 40 acres of land area. The project highlights the greatest 7-star clubhouses of 7500 sq. ft. which is the biggest in the Navi Mumbai area. Presently there are various property options available under different possession statutes. Under-construction, ready to move, and resell properties are available at Adhiraj capital city.