In the last quarter, the rupee slid to such depths that there were alarm bells ringing in economic circles and the RBI decided to take stringent steps to put the rupee back in place. But in real estate, the story was quite different. The weakening of the rupee brought NRIs untold profits. Due to the weakening of the Indian Rupee, NRIs could think of investing in property back home. Investment in property has now become the safest and the best bet for NRIs wanting to invest in an asset in India. This is because the appreciation in Indian Real Estate is slated to give them tremendous returns in the next 4-5 years.
When we talk of NRIs investing in property in India, there are certain cities that they can look at as favorite destinations for their investments. Gurgaon is one of them. Since the last quarter, the property market is experiencing a resurgence thanks to renewed interest shown by NRIs and selected MNCs who have set up their offices in this upcoming suburb of Delhi. This tier 2 city is slated to become the hub of all NRI activity in the times to come. Apart from that, it is also the IT hub of the north. Moreover, properties in this suburb are also expected to give tremendous returns.
Gurgaon, also referred to as the “Millennium City” is slated to buck the recessionary trend that is currently prevailing in the real estate market countrywide. In fact, on the back of this resurgence in the real estate market in Gurgaon, the outlook of the whole real estate industry has changed looking at the positive developments. This is because even though the whole country is reeling under the effects of excess supply of both residential and commercial properties, the story in this hub of the north is totally different. Here, there is a lot of demand for residential properties both from NRIs and the local working population.
This demand has come primarily from the working population who have jobs in the newly set up offices of the MNCs and the migrant NRI population who are looking for investment avenues to park their surplus funds. Therefore, property investment in Gurgaon is becoming a hot topic these days in discussions among NRIs. With the renewed interest in Gurgaon, big ticket developers too have started taking up projects in this suburb of Delhi as they see a lot of returns for their investments in this region.