Media Release
Abu Dhabi, Oct 5: After the commendable success of four property exhibitions, Adsync Advertising LLC is all set to launch the 5th edition of its flagship property exhibition; India Property Fest (IPF) on October 23 and 24 at Emirates Palace, Abu Dhabi.
The real estate industry in India is burgeoning. Declining rupee, dips in borrowing costs, affordable housing projects are encouraging prospective buyers to purchase new properties. There is an indication that a rising number of consumers would be keen to invest in residential properties. Today, the Indian realty market is once again a prime focus area for NRI investors. Long-term investments into Indian realty pay off very well indeed as long as sound investment decisions have been taken. In addition, the Indian government is also looking to develop a hundred smart cities to spur growth. "The time to invest in India is now!" says Pradeep Pinto, organizer of India Property Fest and CEO of Adsync Advertising LLC, Middle East.
The decline in the value of the Indian rupee over the last few months has triggered NRIs to buy property in India. NRIs can take advantage of the exchange rate and increase their purchasing power which enables them to invest in a property (except agricultural property) in India. This is the right time for NRIs to buy property in India, as prices of the Indian property market value have stabilized and the rupee is weak which gives more power to the UAE Dirham.
In addition to this, NRIs can also avail hassle free home loans for acquisition of property in India and leverage the benefits just like any regular resident Indian. NRIs can avail loans upto the extent of 80 per cent. Banks have become more flexible with loans in turn adding to the growth of real estate industry. The recent steps taken by lending agencies to curtail lending rates taking a cue from RBI's interest rate outlook would go a long way in convincing consumers to start opening their purse strings and help generate demand for new homes. The slash in the interest rate regulation implemented by RBI has made way for cheaper home loans which has benefited the common man at large. Consumers can take maximum advantage of this as home loans will now get cheaper and more affordable. Real estate analysts believe that in future there would be a further reduction in home loan rates and availing home loans may be still cheaper.
The scope of real estate investment in metros is more and the appreciation is noteworthy. The cities of Mumbai, Bengaluru and the national capital region are the major hot spot destinations for real estate investments and are expected to yield returns between 9 to 19 per cent on real estate investments over the next 5 years. When it comes to long-term property investment, there is no reason to look only at the metros. Tier II cities such as Lucknow, Ahmedabad also yield good returns and will grow exponentially in times to come. According to a recent report, nearly 80 per cent of NRIs residing in UAE are considering investing in India and of which 72 per cent are likely to invest within the next 6 months with the preferred choice of investment destination being NCR, Bengaluru and Mumbai. Considering long term savings the property market is the best and one of the safest options for NRIs and offers a good return, since the capital value of any property appreciates.
Besides this, property developers are also luring NRIs with attractive schemes. Developers are also showering attractive offers during the upcoming festive season in the hope of boosting sales. Fully furnished flats, gold coins, tax waive-off, free power back up, covered car parking, cash discounts etc are some of the offers provided by developers. Sources state that festive season is a good opportunity to avail best deal on properties. However along with these attractive offers, it is necessary to verify the property value, financial schemes, location etc.
Such a conducive environment for property investment encourages NRIs to invest and buy their dream homes. Generally, the NRI community prefers to invest in their states of origin – primarily Kerala, Karnataka, Tamil Nadu, Maharashtra and Delhi NCR. However, before investing, NRIs must take into consideration, the below mentioned key factors.
Primarily, NRIs should personally evaluate projects; he/ she should opt only for reputed developers. This reality check is essential to verify the track record and brand visibility of the builder, location, amenities and facilities in the project, status of construction and timelines of possession in case of under- construction projects
Secondly, everything should be documented.
In addition to this, protection of consumer interests, promotion of fair play in real estate transactions and ensuring timely execution of projects have been some of the long pending demands of Indian home buyers. This has given birth to associations like Credai in every major city to guarantee the interest of investors.
The property market has huge investment potential and the ‘Indians’ living in UAE possess significant purchasing power and are always on the lookout for investment options. It is therefore with this positive background that ‘Adsync’ will be hosting the 5th edition of India Property Fest at Emirates Palace, Abu Dhabi on October 23 and 24. The 2 day exhibition will give a snapshot of Indian Property Market as a whole and property seekers can avail of exclusive offers and value-added benefits during the exhibition.
India Property Fest gives the opportunity to meet top builders from India who will showcase a wide spectrum of properties designed to suit all budgets of the Indian community in UAE. It’s the ideal forum for NRIs residing in UAE to come face to face with the developers and get solutions to all their real estate queries. The exhibition is a ‘one-stop shop’ opportunity to capitalize and take advantage from the best property deals.
This season we have most of the original exhibitors again plus they have been joined by new exhibitors covering some of the biggest cities and states in India. Visitors can look forward to some exciting deals from developers of Mumbai, Pune, Delhi, Bengaluru, Gurgaon, Noida, Ahmedabad, Chennai, Coimbatore, Kochi, Mangalore and Hyderabad who will all be present to showcase attractive investment opportunities while banks and remittance services will also be present to assist with NRI banking needs.