NRI interest in Gurgaon realty up as touches historical low

GURGAON: The fall of Rupee has raised speculations of increased NRI investments in the reality sector. Builders and analysts say that Gurgaon continues to be a popular destination for NRIs buying property mainly for the purpose of investment.

The Indian Rupee (INR) has seen 12.0% depreciation against the US dollar since the start of May till June, thereby forcing its value go down against all other currencies pegged to US dollar, including the UAE Dirham (AED). As a result, the Rupee has also depreciated against the AED by 12.0% during the same period.


Builders maintain that this slip might prove a good opportunity to tap the potential offered by the NRIs.

According to Ravi Saund, COO, CHD Developers Ltd, most developers are taking cue from this situation and coming up with products primarily targeted at the NRI segment. “We, at the CHD, are coming up with high-end studio apartments in our upcoming commercial tower CHD Sky One. This will majorly be targeted at our NRI customers,” he said.

Gurgaon has emerged to be one of the most lucrative investment options for NRIs since it ensures a good return on investment. The areas most preferred by the NRI segment are Golf Course Extension, Sohna Road and the upcoming Dwarka Expressway. “If the rupee maintains its current levels, real estate developers could see more NRI investments during the period. On the downside, cost of construction may marginally go up as we will have to pay more in rupee in order to procure raw materials,” Saund added.

Said Pankaj Bansal, director of M3M India: “For many NRIs, buying a property in India (either for self-occupation or for parents or siblings) remains a popular investment option. The momentum, however, may get a temporary boost or bust depending upon the Rupee’s equation vis-a-vis the American Dollar.”

However, Bansal said, like any other price factor, after the initial euphoria settle down as reality sinks in and is accepted. “Over the sustained long term, demand from NRIs settles down at the normal levels eventually,” he said.

Explaining the trend, Sanjay Sharma, managing director, QuBREX, said, “The queries from NRIs might have increased but the actual investment in India will depend upon whether they feel the Dollar is headed towards Rs 50 or slips towards Rs 70. If they believe that the Dollar is going to get stronger, then they might prefer to invest in the recovering market of US rather than in the Indian real estate market.”

A recent survey conducted by Sumansa Exhibitions, organisers of the successful annual event called the India Property show in UAE, possibly reveals that NRIs place a higher intrinsic value on property owned in India over that of property owned in Dubai or elsewhere.

Comparing the market in UAE and India, Ashutosh Limaye, head, research & REIS, Jones Lang LaSalle India, said real estate transactions in Dubai had increased by 8% to 154 million AED in 2012. Not surprisingly, this recovery is backed by huge investments being made by expatriates, particularly from India.

“It could be argued that expatriate Indians may be favouring Dubai over Indian real estate on the basis of socio-economic and other factors. Indian investors were buying properties in Dubai as it offers relative political stability, world class infrastructure, tax benefits, attractive prices and geographical proximity. Also, Dubai’s economy has been recovering since last two years, growing by 4.4% and 3.4% in 2012 and 2011, respectively,” said the analyst.

http://timesofindia.indiatimes.com/city/gurgaon/NRI-interest-in-Gurgaon-realty-up-as-touches-historical-low/articleshow/21077562.cms

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Gurgaon property news | Gurgaon real estate market news, India Properties - Real Estate India - Indian Property News Site, Non Resident Indian – Property Investment and Real Estate News for NRIs

New home launches in NCR decline 39% in January-March

New Delhi: The property market of the National Capital Region (NCR) saw a 39 per cent fall in the new launches of apartments to about 7,600 units during January-March period compared with the previous quarter, global realty consultant Cushman & Wakefield said today.

In the top eight cities of the country, Cushman & Wakefield (C&W) said that an estimated 38,000 residential units were launched in the first quarter of 2013, registering a marginal fall of about 2 per cent over the previous quarter.

These major eight cities are -- NCR, Chennai, Kolkata, Bengaluru, Mumbai, Hyderabad, Pune and Ahmedabad.

"National Capital Region (NCR) witnessed the launch of approximately 7,600 units, a decline of 39 per cent compared to the previous quarter," C&W said in a statement.

The new launches were concentrated in the suburban locations of Gurgaon (66 per cent) and Noida (34 per cent) with over 80 per cent of units catering to the mid-range segment.

"Due to the subdued demand, Noida witnessed a steep decline in new launches at close to 70 per cent and ended up being the primary contributor for the overall decline in number of launches in the NCR," the consultant said.

Chennai, Mumbai, Hyderabad and Ahmedabad also witnessed decline in new launches of residential units by 39 per cent, 3 per cent, 89 per cent and 62 per cent, respectively.

"New residential units launched more than doubled in Bengaluru and Pune in the last quarter, increasing by 144 per cent and 109 per cent, respectively," C&W said. Kolkata saw a modest increase of three per cent.

On prices, the report said that most locations in Delhi witnessed stable capital values in both mid and high-end segments.

However, capital values in high-end segment in South Central Delhi witnessed 15 per cent appreciation over last year due to limited supply and high demand.

Among the suburban locations, Gurgaon saw higher appreciation due to the high demand from both end-users, the workforce working in the various companies located here and investors, coupled with the limited project completions.

Gurgaon saw a change in the capital values in the luxury/high-end and mid-end residential segment at 29 per cent and 18 per cent respectively over last year, C&W said.

"The country's residential market witnessed some vibrant launch activity during the quarter despite the sluggish economic environment. Funding will remain a major challenge for developers while executing these projects," C&W executive managing director (South Asia) Shveta Jain said.

"Capital values have largely remained stable across most micro markets except for some key locations in NCR, Chennai and Bengaluru. Prices are expected to remain largely stable in the coming months as developers will be looking mainly to boost sale and increase cash flows in projects being currently executed," Ms. Jain added.

source:- http://profit.ndtv.com/news/industries/article-new-home-launches-in-ncr-decline-39-in-january-march-322962

Buying Property in Gurgaon -

In the opinion of industry experts, the year 2013 will be a booming year for the real estate sector. The main reason for this is growth in buying property in gurgaon is investment.  Investing in real estate inIndia is one of the most preferred investment avenues today. Survey shows that 91 percent of people want to buy property for investment purposes in Gurgaon and all over India. Surprisingly Delhi-NCR tops the chart of real estate investment. It is suggested by the property investment advisors as well. Among all the regions and towns in the NCR, buying property in Gurgaon is one of the best options for investment. So it is highly advisable to Buy Property in Gurgaon now. Even if your unable to buy a ready flat , you can buy a plot in Gurgaon which will reap results later.

Why would someone buy property in Gurgaon?

First of all it is close to the National Capital. Secondly, it is close to services like the international airport. Gurgaon also offers better standards of living as compared to other cities. So whether you live or buy plots in delhi ncr , buying property in gurgaon for investment purposes, or simply buy property in Gurgaon,or buy a plot in Gurgaon, it is a right decision. The growth of multinational companies in the area and availability of job opportunities makes many interested in buying property in Gurgaon.

Buying Property in Gurgaon which will offer people a good chance to live nearby their work-site. So those who find suitable employment in the area often decide to buy property in Gurgaon and settle their life in this fast-growing city. Superior and ultra-luxury flats, residential flats are up for sale in new gurgaon. Builders offer top quality facilities in their societies. They invite people to buy sell rent property in gurgaon, buy property in Gurgaon and have lucrative deals.

There are many commercial properties in Gurgaon and each commercial Property in Gurgaon is highly sought after by the investors now. There is no doubt for any of the investors that their investment is done in one of the best locations in India. They expect greater returns and their expectations have never been in vain so far.

Why Buy property in Gurgaon?

Because it is developing, because it is leading, because it is no less than a metropolitan city and many more reasons. High return on investments being the biggest reasons of all.

Why buy homes in Gurgaon?

Homes here are fully furnished and are a value for money choice. Here undoubtedly the cost of living is high but when you buy a home in Gurgaon there is nothing else one can ask for. Such beautiful homes in a planned city are rare to find.

It is seen that majority of the people who work here plan to settle here and buy a home in Gurgaon. Top level professionals consider the luxurious surrounding and status living of the area and have preferred to buy ahome in Gurgaon.

Which is profitable…. buying a ready flat or buying a plot inGurgaon?

Buying a plot in Gurgaon is somewhere close to buying a plot in Delhi Ncr but buying a ready flat is a different story. If your plan is to buya plot in Gurgaon central then chances of getting one is zero percent. This same situation when we try to buy a plot in delhi NCR. However when we move towards old and outskirts of the city we have fair chances that we can buy a plot in Gurgaon.

Now that you finally decided for buying property for investmentpurposes in Gurgaon, or buy property in Gurgaon for residential purposes or buya plot in Gurgaon it is advisable to take suggestions from property investment advisors too. 

 source:- http://www.sreindia.in/buying-property-in-gurgaon.phphttp://www.sreindia.in/buying-property-in-gurgaon.php