Weak rupee, regulatory changes make realty attractive for NRIs: Experts

Property prices have reduced by 10% or more compared to last year

Last year when US-based Pawan Chadha was looking for a property in Mumbai’s western suburbs (Andheri and Goregaon), the houses he liked cost about $220,000 (Rs 16.1 million). Stagnant real estate prices and a depreciating rupee have made the same houses cheaper for him by 12 per cent. 

The improving regulatory environment is also giving the Indian diaspora the confidence to invest in its home country. “Most people of Indian origin today believe that the recent regulatory changes have made the real estate sector more efficient and transparent, rendering the environment conducive for investment,” says Anuj Puri, chairman, ANAROCK Property Consultants.