The decline in the rupee might not be a good sign for the Indian economy but enquiries from NRIs for buying property in India have risen. Online real estate portals have seen increase in traffic in last few months.
Business Standard, reports “Weak rupee draws NRIs to Indian realty-The enquiries from NRIs for buying property in India have risen by 15-20% .” Real estate experts and online portals like Realistic Realtors, Strategy & Alliances Investors Clinic, Commonfloor.com, IndiaHomes, Jones Lang LaSalle India confirms the increase in enquiries from NRIs for buying property in India.
Sumit Jain, CEO, Commonfloor.com, said the NRI traffic was coming primarily from the US and Australia. And the demand is more for high end properties.
Delhi-NCR and Mumbai are still the most preferred destinations for NRIs to buy property, a property broker said.