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NRI - Buying the Smart desi
For the 20 million Indians spread across the world, India, as a real estate investment destination, was far away. Even until the turn of the millennium, NRI investment in Indian real estate was a trickle. Some promoters would appoint a part-time local representative in cities with large Indian populations. The more enterprising ones would occasionally participate in an exhibition where there would have more questions than answers. You bought property there if you had to. And prayed that your money and property would be safe.

In the last couple of years there has been a sea change in NRI's buying land and property in the Indian market. What was a trickle is now a steady stream. No major housing project can afford to ignore the NRI market and many earmark exclusive NRI blocks in their building plans. Indians abroad want to buy into their home country not only for parents and annual holidays but purely for investment. They have recognised that while, in much of the world, real estate may be slowing, in India's land value is growing by leaps and bounds.

The nature of investors / buyers of real estate and the motivation to buy land / property also varies from country to country. NRI Indians look at India's land not only for investment but also a security for their families and also a holiday retreat. 2nd and 3rd generation Indians invest in land / flat / an independent house first in the first metros like Delhi, Mumbai, Calcutta & Chennai. Then the other smaller towns for realty investment. Predominantly, however, NRIs look for a return on investment with more affluent individuals seeking to invest in commercial space where rental incomes are usually over 10% and offset the interest cost.

There have been many factors fuelling NRI demand. The India story now merits regular articles in mainline newspapers such as The Times, Wall Street Journal or New York Times, encouraging everyone to seek a piece of the action. The easing of repatriation rules has made it simpler to encash returns on investment. Real estate developers have become more professional. Banks are more willing to lend. In recent months the strengthening rupee and weakening US real estate market have made India even more attractive. The most important reason perhaps is that the Indian real estate boom is seen as being led by genuine end-user demand and hence sustainable in the long run, making the investment safe.

The marketing of real estate is also getting more organised, facilitating the buying and selling of land or property process. While earlier, property developers would seek to do their own marketing, today they rely on online property selling. NRIs too depend on the professional advice and transaction management to ensure a smooth & good investment online. NRI's are extremely techsavvy and they do a lot of research. Chennai flats is a virtual office but which makes Chennai based realty / land / property

Property information is manaed by Chennaiflats.com with an extensive database depending on need and availability of land / property. Currently the NRI market accounts for about 20% of the Indian realty sector. Delays in construction and quality of service remain issues of concern with many developers mostly as NRI's are concerned. If India were to catch up with developed countries on matters of title, transparency, service and contract integrity, the floodgates would open up. There is a lot of money waiting at the wings.

 
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Beware of frauds
Gloomy atmosphere in real estate
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2 Bhk, Flat for Sale in Porur
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Chennai Ladies Hostels / PG Accomodation
Nissi Ladies Hostels
No.73, L.B. Road, Adyar,
Chennai - 600 020
Ph: +91 98840 24447
Sneha Ladies Hostels
29,G N G Colony, Ambattur,
Chennai - 600 053
Ph: +91 44 2625 2088
Kalaimagal Ladies Hostels
10, Mehta Nagar, Rajeswari Street,
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Ph: +91 44 4218 6551
Anna Adersh Working Women Hostels
21/162/1,9th Main Road
Anna Nagar, Chennai - 600 040
Ph: +91 44 2626 5435
Working Women Hostels
19, East Spur Tank Road,
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Ph: +91 44 2836 1434, 2836 1825
Aiswaryan Ladies Hostels
21,Loganathan Nagar, 1st Street,
Choolaimedu, Chennai - 600094
Ph: +91 44 23610194
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Builders/Promoters
ACCORD BUILDERS
Shanti Colony, Anna Nagar,
Chennai - 600 040.
Mobile : 98400 66740
sms@accordbuilders.com
sales@accordbuilders.com
FIRM FOUNDATIONS
Q-93, 4th Main Road, Anna Nagar,
Chennai - 600 040.
(Near Yes Yesi Supermarket)
Phone : 26192619
Mobile : 99400 22619
firm@vsnl.com
GOLDEN HOMES PVT LTD.
AC-63, 5th Avenue, Anna Nagar,
Chennai - 600 040.
Ph : +91 - 44 - 2621 3388 /
2626 8388
Man and Soil Builders (Pvt) Ltd
No.54, 1st Flr, Vada Agaram,
Nelson Manickam Road, Choolaimedu,
Chennai - 600094
Tel: (044)-23744892
Mobile: 919841029736
Pearl Constructions
5/15A, Brindavan Colony,
Gandhi Road, Choolaimedu,
Chennai - 600 094
Phone: 044 - 23613833
Mobile: 98412 34678,
94444 18981
info@pearlconstructions.com
www.pearlconstructions.com
PREETHA BUILDERS
"Pozhil" #29(Old # 61),
Bajanai Koil Street,
Choolaimedu, Chennai - 600 094.
Ph : +91 - 44 - 2361 4740 /
2361 4780
Cell : 94441 00300 / 94440 02934
prpreethaa@yahoo.com
NU-TECH ASSOCIATES
56-C, Lakshmanaswamy Salai,
K.K. Nagar, Chennai - 600078.
Phone : +91 44 2366 3322
Tele / Fax : +91 44 2366 1617
contactnutech@gmail.com
Macro Marvel Projects Limited.,
Glenden place, 813,
Poonamallee High Road,
Kilpauk, Chennai - 600 010. INDIA.
Phone Nos : 2661 5678 (6 lines)
macromarvel@vsnl.com
www.macromarvel.com
PALACE HOMES
A-2, Ruby Palace, 5034, V Main Road,
Ram Nagar North, Madipakkam,
Chennai - 600 091.
Phone: 044- 65317156
Mobile: 9841153962
customercare@palacehomes.in
KISHORKUMAR GOKALDAS
No.5, Bishop Wallers Avenue (East),
Mylapore, Chennai - 600 004
Telephone : 91 - 44 - 2499 2042 / 2499 3371 / 2499 3470
www.kgbuilders.com
Mahalakshmi Builders
107/59, P.S. Sivasamy Salai,
Mylapore, Chennai - 600 004
Phone: +91 44 2499 1752,
+91 44 2499 1896
www.mahalakshmibuilders.in
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