Most UAE-based NRIs keen to buy property in India

Abu Dhabi, May 30, 2015
Almost 80 percent of non-resident Indians (NRIs) in the United Arab Emirates (UAE) want to buy apartments in India, withBengaluru and Mumbai being the most preferred choices, a survey has revealed.

The poll showed that 79 percent of the buyers were interested in buying apartments as compared to plots, villas or commercial property in India, with 72 percent planning to purchase the property in the next six months, Arabian Business online reported.

“Today, Bengaluru is a much sought after city with NRIs returning to India. Many are keen on making the city their home,” Sunil Jaiswal, president of Sumansa Exhibitions that conducted the research said.

“The city has evinced so much interest among NRIs of late that even those who have not had the occasion to visit the city have plunged into investments in real estate here. It is most popular among techies and skilled professionals,” Jaiswal added.

Following Bengaluru and Mumbai, NRI property investors also considered Chennai, Pune, Cochin, Delhi, Hyderabad, Navi Mumbai, Goa and Ahmedabad.

The survey showed that 67 percent of buyers were in the age group of 31-50 years.

The UAE is home to around 2.6 million expatraie Indians, according to Indian embassy figures.

Business Line