RERA restores NRIs’ confidence in real estate projects back in India
Delays, Lack Of Transparency Were Hurdles
Nisha.Nambiar
Pune: After years of indecisiveness, the implementation of MahaRERA has helped Qatar-based Shibu and Josy Thomas make up their mind to invest in a realty project in Baner.
With Josy’s parents from Pune, the couple have been looking to invest in a project here for the last few years. “We always wanted a home in the city, our birthplace. We will finally have an investment in the realty sector and can do it with confidence,” Josy said.
Another US-based couple, who did not wish to be named, said they have asked their relatives to look for investment in the real estate segment here. “My sister-inlaw, who would hesitate to invest in Pune till the other day, has asked us to be on the look out for RERA-registered projects,” said M Rao, whose brother and sister-in-law are in the US.
Non-resident Indians have been traditionally attracted to investments in the real estate sector because of currency exchange rate and easy laws for investments by NRIs under the Foreign Exchange Management Act. These potential buyers appear to have become all the more confident to invest in the post-RERA days.
Credai-Maharashtra president Shantilal Kataria said they were getting online inquiries NRIs and their exhibition in the coming month is a proof that the buyers were more confident of investing in the sector with RERA in place. “We are not hesitating to reach out to them,” he said.
Earlier, the lack of transparency in the realty sector, delay in execution of projects, no update from builders, misleading marketing strategies and the absence of accountability were some of the fears expressed by NRIs . Kataria said RERA took care of most of these issues.
Puranik Builders MD Shailesh Puranik said, “The NRIs are now inclined towards investing in residential projects — be it in the micro or luxury segment — because the act (RERA) allows the investors monitor all activities. This creates a transparency in transactions and provides better scope of attracting NRIs.”
Anuj Puri, chairman of Anarock Property Consultants, said the Indian real estate sector evokes a lot of interest from NRI investors. “This interest is driven by long-term fundamentals such as emotional connect, safeguarding retirement plans, better returns and yield on investments and depreciation in the rupee’s value. While there are around 30 million NRIs across the globe, investment in the Indian real estate is led by NRIs from the US, UAE and Saudi Arabia.”
Between 2000 and 2014, he said, NRI investments in the Indian real estate reached substantial levels ranging between 10% and 18% a year. But there was a drop because of the slowdown in the market from 2015 and that continued till last year.
“Besides, there was a slew of reforms and policy changes such as demonetization, RERA and GST. The combined effect was a decrease in investments by the NRIs in the sector. The worst hit was residential real estate market. But after RERA, the sector is finally reviving,” Puri said.
Nisha.Nambiar
Pune: After years of indecisiveness, the implementation of MahaRERA has helped Qatar-based Shibu and Josy Thomas make up their mind to invest in a realty project in Baner.
With Josy’s parents from Pune, the couple have been looking to invest in a project here for the last few years. “We always wanted a home in the city, our birthplace. We will finally have an investment in the realty sector and can do it with confidence,” Josy said.
Another US-based couple, who did not wish to be named, said they have asked their relatives to look for investment in the real estate segment here. “My sister-inlaw, who would hesitate to invest in Pune till the other day, has asked us to be on the look out for RERA-registered projects,” said M Rao, whose brother and sister-in-law are in the US.
Non-resident Indians have been traditionally attracted to investments in the real estate sector because of currency exchange rate and easy laws for investments by NRIs under the Foreign Exchange Management Act. These potential buyers appear to have become all the more confident to invest in the post-RERA days.
Credai-Maharashtra president Shantilal Kataria said they were getting online inquiries NRIs and their exhibition in the coming month is a proof that the buyers were more confident of investing in the sector with RERA in place. “We are not hesitating to reach out to them,” he said.
Earlier, the lack of transparency in the realty sector, delay in execution of projects, no update from builders, misleading marketing strategies and the absence of accountability were some of the fears expressed by NRIs . Kataria said RERA took care of most of these issues.
Puranik Builders MD Shailesh Puranik said, “The NRIs are now inclined towards investing in residential projects — be it in the micro or luxury segment — because the act (RERA) allows the investors monitor all activities. This creates a transparency in transactions and provides better scope of attracting NRIs.”
Anuj Puri, chairman of Anarock Property Consultants, said the Indian real estate sector evokes a lot of interest from NRI investors. “This interest is driven by long-term fundamentals such as emotional connect, safeguarding retirement plans, better returns and yield on investments and depreciation in the rupee’s value. While there are around 30 million NRIs across the globe, investment in the Indian real estate is led by NRIs from the US, UAE and Saudi Arabia.”
Between 2000 and 2014, he said, NRI investments in the Indian real estate reached substantial levels ranging between 10% and 18% a year. But there was a drop because of the slowdown in the market from 2015 and that continued till last year.
“Besides, there was a slew of reforms and policy changes such as demonetization, RERA and GST. The combined effect was a decrease in investments by the NRIs in the sector. The worst hit was residential real estate market. But after RERA, the sector is finally reviving,” Puri said.
Good information Deepak Sir, post more blog related to RERA. Such an informative blog keep it continue.
ReplyDeleteongoing projects in Pune
Your Blog contains quality data which gives another point of view about the venture and Real domain.
ReplyDeletePuravankara Kondhwa
Nice Blog !!
ReplyDeleteGodrej Life Plus Eternity
Sobha HRC Pristine
Tata New Haven
Prestige Fontaine Bleau
Prestige Falcon City
Mantri Serenity
Awesome Blog!!
ReplyDeleteGodrej Joka
Godrej Haralur Road
Great Blog! I
ReplyDeletePuravankara Skye Homes
Awesome Blog post it has bunches of data Regarding 2 BHK and 3 BHK here I additionally have some Information in regards to this.
ReplyDeleteGodrej Joka Kolkata
Godrej Haralur Road
Godrej Mamurdi Pune
Puravankara Skye Homes
Provident Viva City
Provident Viva City
Puravankara Skye Homes
It’s a really interesting blog which posts the latest news and most reliable information. Devonwood Apartments. I also want to share an information about Apartments for rent in Charlotte NC at Devonwood Apartments.
ReplyDeleteSuperb blog designing by you and sharing articles are very informative, I study your blog articles posting. Cherry Creek Apartments
ReplyDeleteAwesome blog.I have also some information about a new real estate project in Joka KolkataGODREJ JOKA
ReplyDeleteWow, this is really interesting and very useful post, thanks for sharing.
ReplyDeleteGodrej Life Plus
Sobha HRC Pristine
Prestige Fontaine Bleau
Mantri Serenity
Sobha Grandeur
Ozone Promenade
Prestige Dolce Vita
Great Blog! I am also going to sharing some residential projects.
ReplyDeleteSalarpuria Serene Life
Salarpuria Misty Charm
Very impressive blog. Thanks for this wonderful post. Find apartment for sale hyderabad
ReplyDeleteGreat blog. Very informative post. We take the outside-in approach to make 2bhk homes that best fit your needs, while keeping in mind your luxuries and comforts.
ReplyDeleteYes, RERA have made a much impact on real estate sector and it’s becoming very good news for real estate buyers. For NRI's this is the good time to investment, prices are going down, If anybody interested to buy 1 bhk Flats in Wagholi Pune , then I would suggest Konark Oasis a project by Karia Developers and designed by Hafeez Contractor in Wagholi Pune.
ReplyDeleteHello, Interesting, you have shareda blog which is useful and getting a lot of new thing its really nice and making best thing.
ReplyDeletesobha palm court
skylark dasos
Assets Here And Now
Godrej Avenues
Navya nisarga
Awesome blog.A obligation of appreciation is all together to share the information us.
ReplyDeleteGodrej Montella
Godrej Active
Omkar Kanjurmarg
Godrej Active Pune
Lodha New Launch Jogeshwari
Tata Gahunje
Omkar Mahim
Thanks for sharing such a great info. I too have something exited, a luxury township developed by well-known developer Hiranandani in Panvel mumbai checkout complete info here: HiranandaniPanvel
ReplyDeleteHiranandani Fortune City Panvel
Panvel Hiranandani
Hiranandani Panvel Price
Hiranandani Panvel Location
Thanks for sharing such a great info. I too have something exited, a luxury township developed by well-known developer Lodha in Dombivali mumbai checkout complete info here: Palavacitymumbai
ReplyDeleteLodha palava
Palava city Dombivali
Palava Dombivali price
Such a great Post!! Thanks for Sharing. Are you looking to buy flats / apartments in Delhi / NCR within your budget, Low Budget Flats, 2,3,4 BHK Affordable Apartments, buy property online, buy plots, resale flats, Top builders & developers, residential property for sale, new housing projects, low budget flats in Residential Projects Gurgaon, Dwarka Expressway New Projects Residential Projects for Buy and sale in Gurgaon all Prime location visit at:-www.dwarkaexpresswaynewproject.in
ReplyDeleteHii.., It’s Amazing to see your blog.This provide us all the necessary information regarding upcoming real estate project which having all the today’s facilities. For the property details in Bangalore follow the below mentioned links.. Or call 8861951188
ReplyDeleteShriram southern Crest
Code name five rings
prestige jindal
mantri Serenity
prestige park square
Hii... Thanks for providing the information about the property.. For the property details in Bangalore follow the below mentioned links.. Or call 7899708028
ReplyDeleteprovident park square kanakapura road
prestige park square price
The address makers Central Regency
lgcl happy days
Nice blog,your post is very helpful for every one.
ReplyDeleteVisit architectural rendering studio
Thanks For Sharing This Nice Information.
ReplyDeleteBoulevard by Bramhacorp Builders provides the new shops for sale in pune And new shops for sale near pune station And new commercial projects in pune with Premium office spaces now for sale!
thanks for sharing this nice information.BramhaCorp Provides Ready Possession Apartment in Pune with best specifications and amenities Apartments in Pune.
ReplyDeletethanks for sharing the nice information.BramhaCorp Provides Ready Possession Apartment in Pune with best specifications and amenities Apartments in Pune.
ReplyDeleteNice blog and thanks for sharing the post.
ReplyDeletePrestige Tranquil
Prestige High Fields
Incor One City
Udaya Cresent
Western Exotica
PBEL City
Sumadhura Horizon
Urbanrise Spring Is In The Air
Sark Town Homes
Ambience Courtyard
Magnus Shaikpet
Spring Is In The Air Urbanrise
Sri Aditya Athena
Vamsiram West Wood
Nice Blog and Thanks for sharing with us,
ReplyDeletePrestige Tranquil
Urbanrise Spring Is In The Air
Prestige High Fields
Ambience Courtyard
Spring Is In The Air Urbanrise
Aditya Athena
Sark Town Homes
Sri Aditya Athena
Vamsiram West Wood
Provident Kenworth