Saturday, Aug 16: There is a growing number of Indo-Canadians who
are snapping up luxury residential properties in India. Some are flipping
the homes for steep profits or using them as vacation residences.
Others are treating them as lucrative rental properties. Non-resident
Indians in the United States, United Kingdom and Middle East are also
fuelling the trend which has arisen in the wake of legislative changes
that have made it easier for so-called NRIs to buy property, but is
not without controversy.
Saturday, Aug 16: The real estate boom is officially over in Hyderabad
and many other cities. The prices of real estate land have fallen
in the outskirts and the price of apartments per sq ft has crashed
in the past year. A key reason could be the sub-prime real-estate
crisis and its impact on real estate abroad has led to several NRI's
burning their hands in real estate.
Friday, Aug 15: Despite the current slowdown in the Indian economy,
the Non Resident Indian is investing in various sectors, including
real estate. Several real estate projects across India have garnered
approximately 10-20% participation from NRIs.
Friday, Aug 15: The moneyed in Bangalore are still buying despite surge in prices of property. Amber Maheshwari, director of real estate consulting firm DTZ, said, "There has been no slowdown in demand for the Rs 2.5 crore-plus homes. People who can afford these homes are from the affluent segments that are not impacted by inflation or higher interest rates."
