NRI’s Investing into Second Homes

Waking up to the sound of birds chirping, walking on
tender grass wet with the morning’s ew, listening to the sweet songs
of flowing water as memories of an earlier time come flooding over you,
soaking in the delights of nature over a cup of coffee. if this is your
dream, investing in a second home is the road to realise it.

Though owning a single house continues to remain a
dream for most people, buying a second home obviously continues to be
nothing more than a fantasy.

However, this relatively new concept in India is catching
up with many high net worth individuals (HNIs) and non-resident Indians
(NRIs). The main aim for buying a second home is to have a relaxing
place away from the hustle and bustle of city life. This also becomes
a good investment avenue, as the second home segment all over the country
has appreciated astronomically in recent times.

The aspirations of the new generation are changing
and steadily growing. As a result of liberalisation and strong growth
of the economy, they have very high incomes and, therefore, have huge
disposable amounts. Home loans are easily available and at highly competitive
rates to fill any gaps that exist. Real estate has already emerged as
a decent and transparent investment option. The availability of a wide
variety of residential formats and options of locations and budgets
became an attractive proposal for the newly-emerged consumer class besides
NRIs to go in for it.