One of two non-resident Indians (NRI) in the UAE plan to buy property within the year, according to a new survey, with real estate investment options in their homeland gaining strong interest in light of a weakened Indian rupee.
The top five locations for purchasing property, based on the survey by the Indian Property Show, are Mumbai, Bangalore, Chennai, Cochin and Pune. Other locations that emerged as favourites are Pune, Delhi, Coimbatore, Ahmedabad and Goa.
The survey said that a little over 40 per cent of NRIs are looking to buy property as an investment, rising from around 35 per cent in the previous year. Kowshik Mukherjee, head of Indian Property Show and COO of Sumansa Exhibitions, credited the improving attitude towards Indian real estate to regulatory reforms, as well as the continued decline of the rupee.