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'Rupee aids NRIs buy properties in India'

Nov 14 2012, 20:09 IST
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The weakening rupee gives more power to dirham currency. (Reuters) The weakening rupee gives more power to dirham currency. (Reuters)
SummaryThe weakening rupee gives more power to dirham currency.

point which is good to enter. For NRIs, a reputed developer with good track

record, quality and possible price appreciation is an important factor," he said.

Sunil D'Costa, Manager (International Sales) Sahara Prime City, Sahara Group's real estate division, said: "Property investments in India are believed to be the smartest move as chances of loss are negligible. The growth graph of the real estate sector is observed to be escalating day by day".

Rupee depreciation against the dollar is a great attraction for NRI's to invest back home so if you keep a horizon of 2-3 years, an average return of 25-30 per cent is guaranteed, he added.

"In terms of location, other than metropolitans and Tier-1 cities, momentum of investment in Tier-2 and Tier-3 cities is quite high, plus the rate of appreciation is much more due to fast paced infrastructural developments," he added.

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