Weaker rupee, stable prices makes realty in India attractive for NRIs

Experts say demand will help offset liquidity problem affecting sales

The sharp fall in the rupee’s value against the US dollar since the beginning of this year has generated interest among non-resident Indians (NRIs) to buy property in the country.

Sector experts say the total value of investment by NRIs in the first eight months of this financial year has already exceeded the total for 2017-18. “These investments in Indian real estate have touched more than $10 billion (Rs 730 billion) so far in this fiscal year (FY19), up from $8.9 billion invested in FY18. Depreciation in the rupee and low property prices have led to this,” said Surendra Hiranandani,