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With the depreciating value of rupee the builders who were finding it tough to sell the property are now gaining a good fortune. This has been revealed by the property show that was held in Dubai for three days. Here the Indian builders were able to attain bookings for property in India of Rs 250 crores approximately. This new interest of Non Resident Indians (NRI) in the Indian Real estate has prompted the builders to take a leap towards New York, Singapore and London for more such bookings.

As the NRI’s pay in dollars the depreciating value of the rupee has been beneficial to them. It is analyzed that if the value of the depreciated rupee is summed up to the concessional value offered by the builders then the new homes that are built in India would turn out to be cheaper by 30% in terms of dollar. Many Indian companies including Unitec, Ansal Housing, Nirmal Lifestyle, Vatika and Ireo presented their numerous projects ranging in different cities in India like Mumbai, Gurgaon, Ahmedabad and Pune. This led to their appreciation with the generating of many bookings of home.

Another significant reason for more NRIs turning toward Real estate in India is that real estate in places like in the Middle East and Europe is doubtful. Investing in the property, in countries other than India for NRIs is uncertain and therefore they taking full advantage of lose in the value of rupee.

As the currency of India has lost the value by 20% it provides a way too good a bargain for the NRIs. The United Arab Emirates currency- Dirham which has the same value as the US dollar has helped real estate market of India attain more attention from the Non Resident Indians.

With the huge investment in the Indian property it is expected that company’s revenue could rise up to 8% in the current financial year. It is been observed that many buyers have paid the entire sum while purchasing the property so that they can be benefited by the current rate of the currency. Many have bought the place for their own use while some have bought for investment purposes. This was seen in the Dubai property show which has been a boon to the real estate industry of India and therefore the Maharashtra Chamber of Housing Industry has planned to put up a an exhibition of the property in Dubai again in January. Property dealers who have incurred loss due to fall in the sale of property from the local buyers are looking forward for this exhibition which is to be held in Dubai.

As the exhibition was a hit for the Indian property market various such shows are in the planning stage. It is thought that selling property can be on a high with the intermingling of the NRIs and the companies in India.

The loss in the value of rupee has definitely has made the NRIs curious about the real estate in India.

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