Real estate is the most attractive option for NRI buyers who have surplus capital to invest. NRIs look at Bangalore as one of the best investment destinations because of the emotional connection with the country, more lucrative investment opportunities, and the availability of caretakers to protect their purchased property. They find these real estate investments as a means to protect their future and to make endowments for living when they would require coming back to their motherland and settling down here. Young NRIs have a typical way of looking at real estate investments. They want the best property to invest, in short, they are in search of luxury projects in the best location. The Bangalore Real Estate market has flourished over the years, providing attractive options for all kinds of investors.
Here are the top reasons why you should invest in Bangalore if you are an NRI.
Cosmopolitan lifestyle: Because of the cosmopolitan lifestyle this city offers, NRIs prefer real estate investment in Bangalore. People from all castes, faiths, races, and nationalities settle down at various residential areas and seem to get easier with the environment of this city. NRIs choose to live in a city that gives them a cosmopolitan feel and helps them settle down faster. Residents busy with themselves and all service providers using English as a means of communication make it easier for NRIs with families to provide their children with the same atmosphere as found in the overseas destination.
Prevalence of luxury house segment: Most of the big cities in India have very few areas devoted to the luxury housing segment. The per capita income of the Bangalore residents is higher than most of the cities of India. This figure suggests that the buying capacity of the residents of this city is higher than other areas of the country. Thus, the builders and developers find it easy to launch luxury housing projects in this city. The availability of numerous luxury housing choices helps buyers to shop more before the property is finalized.
Lucrative prices of Bangalore property: As the strength of the rupee continues to weaken against the US dollar, the discounted and tempting prices of Bangalore property fuels NRI real estate investment. In addition, the RBI’s simplification of rules to attract foreign investment through the Foreign Exchange Management Act or FEMA has throttled this already booming market. The Act allows Indians living anywhere abroad to purchase residential and commercial property except agricultural land.
Tax benefits: The tax advantages of NRI’s real estate investment in the country is enviable. With the absence of a cap on the number of properties an NRI can buy, they can easily invest in property by renting, selling, leasing, etc. They can invest in multiple properties and, by rental income, leasing income, short-term and long-term capital gains, earn a good return on investment.
Parts of Bangalore City Where NRI investments are at the top
Koramangla, Jayanagar, JP Nagar, Whitefield are a few of the hot destinations for real estate investment in Bangalore for NRIs. These areas have several options of Independent houses, Villas and plots. Because of the ease of moving out of the city without getting stuck in the city traffic, areas closer to the International Airport are also seen as a lucrative area of investment for Bangalore Real Estate.