The real estate sector has always seen growth in Mumbai, but this growth has only started to accelerate of late.Despite the slump in global markets, real estate still continues to do well in Mumbai and property prices keep rising. The city’s real estate has been attracting a lot of foreign investment and not surprisingly,Non-Resident Indians (NRIs) are most interested in investing in the financial capital of the country.

NRIs have always been inclined to buying property in the overseas market, with some of the most popular locations including the likes of London, New York, Toronto, Singapore, Hong Kong, and Dubai. Mumbai’s real estate market has become increasingly important in the global scenario however, and lots more Indians are looking to invest in the city.

If you are an NRI there are plenty of good reasons to invest in Mumbai’s real estate:

1. Easy Buying:

Developers have made registration, payments, and the buying process for the NRIs a lot simpler. Interested investors also get to monitor the development of the property easily.

2. Discounts:

When NRIs make bulk or group purchases in the city, they are benefitted with sizeable discounts. Bulk purchases help developers as this maintains healthy cash flow. It also decreases the cost of acquisition for them and increases their turnover. Good cash flow also makes it easier to achieve timely completion of projects, attracting still more buyers. For this reason, builders offer bulk buyers payment flexibility along with discounts.

3. Cheap:

The Indian rupee has been depreciating. This makes the properties in India cheaper for NRIs.

4. Favourable Market:

While policy changes have given the city a more business friendly outlook, most economists also view the markets favourably and foresee growth in the coming years. Government initiatives like smart cities and other projects have also spurred growth, attracted heavy foreign investment, and have helped boost the city’s infrastructure.

5. Dual Benefits:

Buying a home in your own country doesn’t just cater to your emotional connection, but it is also financially viable. By buying property here, you can feel closer to home and also feel secure in the knowledge that you have a home to return to, should the need ever arise.At the same time, the positive market trends also offer investors the promise of big returns.

As per the findings of an Assocham survey, Indian real estate builders are expecting a rise of 35% in NRI inquiries, ascompared to the previous year’s 18%. This is because NRIs are anticipating more reforms and benefits. Most working professionals prefer mid-segment projects, while big industrialists are keen on luxury projects. Mumbai’s real estate market is big enough to cater to all of these segments and with its constant growth, the returns are only likely to entice further investment.

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