Re depreciation helping UAE NRIs buy properties in India
DUBAI : The decline in value of rupee over the last one year is luring NRIs living in the UAE to buy property in India even if the price stretched up to one crore or more, according to a survey.
According to the survey conducted here by Sumansa Exhibitions who are organisers of Indian Property Show, 89 per cent of NRIs (non-resident Indians) in the UAE are planning to leverage the power of their additional income by investing in properties worth up to 1 crore and beyond.
The weakening rupee gives more power to dirham currency that they have and current sluggish market enables them to buy properties at a cheaper rate in India , it said.
It added that 26.7 per cent NRIs are looking to buy properties as additional investment, a sharp rise of 6 per cent in one year.
