Right time for NRIs to buy residential or commercial property in India

Though the rupee has strengthened against most currencies, buyers can still benefit from the attractive prices in India

After the recent regulatory changes, the interest of non-resident Indians (NRIs) in the real estate market in India has revived. They typically visit the country around this time of the year. Inquiries from them are on the rise, say property brokers.  

On his recent visit to India, US-based Pankaj Kalra noticed a significant change when dealing with developers. “After demonetisation and introduction of goods and services tax (GST), developers now prefer transactions through banking channels, instead of cash. Many projects are offering subvention schemes with upfront payment of only 5-10 per cent, compared to 20-25 per cent last year.