Rupee depreciation may be bad news for the Indian economy, but not so for the non-resident Indians (NRIs) scouting for property back home. Cashing in on the opportunity to buy residential units cheaper by up to 20%, NRIs are queueing up big time.
"The enquiries from NRIs for buying property in India have risen by at least 15-20% following the rupee depreciation. The enquiries may go up further once it touches the 60 mark," Harinder Singh, managing director, Realistic Realtors, said.
Eager to hardsell the Indian real estate story, Singh said "it is the most advisable time for NRIs to invest in India".
Text: Business Standard
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