A report by CII (Confederation of Indian Industry) and Anarock
titled, “Indian Real Estate Vision 2025” said that the COVID-19 pandemic
combined with lower real estate prices and a depreciating rupee has
attracted a lot of attention from NRIs (non-resident Indians).
“The pandemic has increased NRIs emotional association of longterm
security with physical assets,” said Prashant Thakur, Director &
Head (Research), Anarock. “They are also driven by the uncertainties
posed by Covid-19. Majority of NRIs are buying for end use, not as
investments,” he said.
NRIs are going in for larger, luxury homes, like 3BHK and 4BHK homes.
The price tags for these homes are between Rs 90 lakh-Rs 2.5 crores.
The report said, “3BHKs and 4BHKs are on top of their wish list. Out of
the total 24% respondents who had already booked property recently, 38%
were NRIs.”
State government initiatives like reduction in stamp duty by
Maharashtra and reduction in premiums by 50%, and developer offers plus
the extension of RERA deadline as part of the Atmanirbhar Bharat
package, have all helped NRIs take decisions to buy property in India.
The depreciating Indian rupee has been one of the most important
factors that have drawn NRIs to India. Realty players are also upping
their game showing off their properties virtually that has made it
easier for NRIs to make purchase decisions.
Gurugram same as Gurgaon - Gurgaon, a city in Haryana situated
towards the southwest of Delhi, is one of the fastest growing urban
areas in India. Once a sparsely populated area, Gurgaon today is one of
the most prosperous cities in India. Over half of the Fortune 500
companies have offices here. Gurgaon is known as the Singapore of India
and Indias Private City. Gurgaon has the highest literacy rate in
Haryana, at 84.7 per cent. The per capita income in Gurgaon is the third
highest in India. Much of Gurgaons growth was since its administrative
split with neighbouring Faridabad, a city which was once more prosperous
and better served by civic infrastructure and transportation networks.
Connectivity to Delhi, proximity to the Indira Gandhi International
Airport, the formation of Maruti Suzukis manufacturing plant in the late
70s are believed to be major factors behind the growth of Gurgaon.
In
summers, temperature in Gurgaon often crosses 43 degree Celsius, and in
winters, it often averages 3 Degree Celsius at its extreme. The weather
in Gurgaon is humid in summer and cold in winter.
The
Haryana Government on Tuesday decided to rename Gurgaon as Gurugram and
its neighbouing district Mewat as Nuh. ... The town derived its name
from Guru Dronacharya; the village was given as “gurudakshina” to him by
his students, the Pandavas, and hence it came to be known as Gurugram.
as on Apr 12, 2016
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