Mumbai top choice of UAE NRIs for realty investment

Mumbai is top choice for non-resident Indians (NRIs) in the UAE for investment in the real estate sector in India, said a survey.

Around 27 per cent NRIs chose to invest in Mumbai, said a survey conducted by Sumansa Exhibitions, the organisers of Indian Property Show.

Inching closer and grabbing 2nd spot is Bangalore with 17.10 per cent preferring to invest in coming 3-6months. Delhi & NCR, Pune and Chennai are the other 3 cities featured in the top 5.

Around 14,000 NRIs across UAE participated in the survey which was conducted to understand the reason of buying property in India, type of property, time frame to buy, budget and finances planned etc.

Sunil Jaiswal, CEO of Sumansa Exhibitions, said: “In the recent times, there are more people looking at buying a second property purely from an investment point of view and in this case choosing the right city and location is very important. Buyers focus is primarily on properties that have potential for assured rental yields and capital appreciation. Mumbai enjoys commercial prominence, location advantage and increasing wealth, hence it continues to remain investor’s favourite. Bangalore sales market witnessed increased demand levels both from end-users as well as the investor community. The survey actually points out that Mumbai is looked for quick capital appreciation whereas Bangalore is more for ownership and better lifestyle. Delhi NCR region and specially Gurgaon has registered substantial price appreciation in the range of 20-25 per cent whereas several locations in Delhi are expected to rise over next few months”

The study further indicates that most NRI’s are looking at apartments as compared to land, Villas or commercial properties.

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