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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.

ET Now: What are you buying on the muhurat day?

Raamdeo Agrawal: I have still not gone to the trading floor. I will definitely be doing something, but I was just wondering what to buy in the sense that there is so much of excitement in the market now. Certainly in the last 2-3 months, the mood has changed so much that it looks that we are in for a good time. So I have little money left. I will go and buy the same   stocks   what I have in our portfolio. So that is it what I am going to do.

ET Now: So would it be   SBI BSE -0.85 % ,   Central Bank BSE 1.48 %   as well as   Hero MotoCorp BSE -0.36 %   again or are there newer names that you would want to punch in this Diwali?  

• DLF announces Q2 FY13 results
• Revenue at Rs 2,157 Crore
• Net profit at Rs 139 Crore

Editors Synopsis:

Financial Highlights –

Q2 FY13 (all comparisons with Q2 FY12)

• Consolidated Revenue at Rs 2,157  crore, down by 16% from Rs 2,577 crore
• EBIDTA at Rs 864 crore, down   by 29% from Rs 1216 crore
• Consolidated PAT at Rs 139  crore, compared to Rs 372 crore
• EPS for the quarter at Rs 0.81