The second Indian Property Show held in Dubai last week has been a thunderous success, with deals worth Rs. 265 crore actually being completed during the event. Over 14,000 visitors browsed through the choice of properties on display at the 3-day exhibition, registering a 10% increase over the previous show held last year.

Over Rs. 2,500 crore worth of enquiries were generated during the event. Encouraged by the success, a third event along similar lines is being considered by the organizers, Sumansa Events, at the 124,800 sq. ft sized venue at Airport Expo again between 13th and 15th December this year.

Participants to the show included the Vatika Group, Alliance Projects, and Devansh Construction. Apart from showcasing the range of residential and commercial properties in India, finance companies and legal desks were also set up for the convenience of NRI investors.

ICICI and Emirates Bank ventured to offer 100% finance to NRI investors. through a joint scheme promoted by the two banks. The meNRI Home Finance is a value-added scheme which combines a home loan from the ICICI Bank and a Personal Loan from the Emirates Bank.

The ratio of their lending would be 70:30 respectively. This facility is extended to all NRIs employed in the UAE who have salary accounts in the Emirates Bank.

The loan can be availed to either purchase a residential property or to renovate or expand their existing homes, Added benefits to borrowers of the meNRI scheme include dual banking facilities through the ICICI Bank and the Emirates bank in UAE.

Loans upto one million dirhams can be sanctioned speedily by the Emirates Bank through a simple procedure. The convergence of realty and banking services would give a fillip to NRI investments in Indian real estate.

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