RERA Restores NRIs Confidence In Realty Projects In India

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realty projects in India
RERA Restores NRIs Confidence In Realty Projects
In India
Jan 2018
In Green Homes
After many years of indecisiveness, the
implementation of Real Estate Regulation and
Development Act has helped many home buyers to
make up their mind to invest in the real estate
market. Numerous NRIs have asked their friends
and family to look for the investment in the real
estate market in India. They are looking ahead to
RERA registered projects.
Non-resident Indians have usually attracted to
invest in real estate sector as the easy laws for
investments and currency exchange rate by
non-resident Indians under Foreign Exchange
Management Act. The potential home buyers come to
have become more confident to invest in post-Real
Estate Regulation and Development Act days.
CREDAI-Maharashtra got online inquiries
non-resident Indians and the exhibition in coming
month is proof that the home buyers were
confident of investing in the real estate sector
with Real Estate Regulation Act in place.
Previously, the lack in transparency in the real
estate sector, delay in the execution of
projects, no update from the builders, the
absence of accountability and misleading
marketing strategies were the fears expressed by
non-resident Indians.
The non-resident Indians are inclined towards
investing in the housing projects, be it the
luxury or micro segment as the RERA act allows
investors monitor all the activities. These
basically create the transparency in the
transactions as well as provide a better scope of
attracting the non-resident Indians.
The Indian realty sector evokes numerous
interests from the non-resident Indian investors.
This interest is actually driven by the long-term
fundamentals of safeguarding retirement plans,
emotionally connect, the yield on investments,
better returns, and depreciation in the rupee's
value. While there are over 30 million
non-resident Indians across the globe, the
investment in Indian realty estate is led by the
non-resident Indians from UAE, US, and Saudi
Arabia.
Between 2000 and 2014, non-resident Indian
investments in Indian real estate reached
extensive levels ranging between 10-18 a year.
But, there was the drop in the slowdown in the
real estate market from 2015 and it continued
until last year.
Also, there was a slew of the policy changes and
reforms like Goods and Services Act, Real Estate
Regulation Act and Demonetization. The blending
effect was decreased in the investments by
non-resident Indians in the realty sector. The
worst hit was the housing real estate market. But
after the Real Estate Regulation and Development
Act, the sector is lastly reviving.
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