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RBI hit realty dreams abroad, but will local property benefit

RBI hit realty dreams abroad, but will local property benefit | Realtyminister | Scoop.it

Are you dreaming of owning a home in Dubai or a duplex flat in London for investment? You will now have to reconsider your plans as the Reserve Bank of India (RBI) has obstructed Indian people from employing local funds to buy immovable property abroad.

Despite a failing rupee, Indians have still been buying property abroad because of better worth and to offset the risks appearing out of economic uncertainty as well as domestic political. As per statistics provided by the National Association of Realtors (NAR), $68.5 billion that foreigners used up purchasing houses in the US, Indian buyers spend for nearly $3.5 billion, making it to fifth spot on the list of top 10 property buyers in the US.  This is because an Indian looking for to purchase a property in Singapore, London and New York can benefit himself of very much lower interest rates from local banks in those countries.


Via InfoBlaze
Realtyminister.com's insight:

Are you dreaming of owning a home in Dubai or a duplex flat in London for investment? You will now have to reconsider your plans as the Reserve Bank of India (RBI) has obstructed Indian people from employing local funds to buy immovable property abroad.

Despite a failing rupee, Indians have still been buying property abroad because of better worth and to offset the risks appearing out of economic uncertainty as well as domestic political. As per statistics provided by the National Association of Realtors (NAR), $68.5 billion that foreigners used up purchasing houses in the US, Indian buyers spend for nearly $3.5 billion, making it to fifth spot on the list of top 10 property buyers in the US.  This is because an Indian looking for to purchase a property in Singapore, London and New York can benefit himself of very much lower interest rates from local banks in those countries.

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How real estate market is booming in Bangalore

 As we know, Bangalore has emerged as the chief economic hub of India. The city is rich in the IT and software firms, it has opened the various door for real estate builders in terms of building the commercial and residential properties.

Nowadays, purchasing a home is not just a dream for various people but also their life’s dream. No matter it is a small or big property, individuals take the proper effort to own a dream house in Bangalore. The city is emerging as fastest rising city with an established IT market and yet flourishing in the same sectors. This is magnetized various IT professionals and others who find their employment and settle down. The boost in inhabitants day by day has now increased a demand for realty sector to create sufficient space for individuals to find their homes, apartments and related property.

Though the option is wide to find your home in Bangalore, searching the home within your budget is very important.

Gone are the days when bungalows are regarded as a symbol of prosperity and luxury. Bangalore has been in the clutch of apartment culture and flats for sale in Bangalore are in upbeat mood. The flat culture is not only  attracting mid segment investors but also rich and affluent classes. Luxury flats in the city are selling like hot cakes due to high end apartments are scored among NRIs and HNIs.

Realtyminister.com's insight:

Flats in the city have become the most-liked options because it provides various benefits over independent houses. Affordability is leading factors spurring the demand for flats for sale in Bangalore. Here, flats are more reasonable compared to houses as they are expensive. Apart from that, ongoing maintenance of houses is another reason which expands flat culture. Unlike independent houses where the owner has to give more attention towards general maintenance of the property, flats in Bangalore has a professional management team which takes care of day to day operations of the building.

A recent JLL report estimated that the NCR has the biggest chunk of ultra-luxury projects in the country with a 35-40% share, Mumbai has another 20 percent, Bangalore follows with 15-20 percent.  But realty developers are betting on Bangalore as they feel the demand environment is much more steady in the IT city than elsewhere.

Seeing the mounting demand for flats in Bangalore, the realty companies are giving more and more living spaces. The realty builders also make it a point of present living spaces in reasonable price. Builders present bungalows, townships, gated communities, flats, gated communities, townships and bungalows in the city and many more as the wide option to further make the selection. No doubt, Bangalore is growing as the one stop destination for various to invest in the most preferred properties.

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How real estate playing a major role in Indian economy

How real estate playing a major role in  Indian economy | Realtyminister | Scoop.it

Real estate plays a major role in the Indian economy because of it is the second leading employer next only to agriculture. The Indian realty market size is estimated to touch 180 billion USD by 2020. The speedy expansion of the Indian economy has had a major impact on the demand for commercial property to meet the needs of business, by way of offices, warehouses, hotels, retail shopping centers. Growth in commercial office space is led by the growing outsourcing, IT (information technology) industry and organized retail.

Realtyminister.com's insight:

India has believed as one of the preferred investment destination to the country's economic stability. India is growing at a speedy pace towards fast mounting economies as it is influenced by several factors such as robust economy-changing demographics, Interest of MNCs in India real estate, FDI, buoyant local stock market, Government relaxations, the emergence of the mall culture, new policies regarding realty and many more. As the development in the economy is the main reason for the growth in the realty sectors, hence, all these aspects have thus resulted hike in the economy thus bringing change in the realty scenario.

The demand for both residential and commercial Indian properties has increased swiftly that has given the real estate companies to set up their strong footage in the country and add a new page to their success stories as well. Large range realty projects were launched in the country to meet with the person's needs and thus changed the realty business into one of the most profitable sectors in the country. 

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25-bed country estate: yours for just £18m - Telegraph.co.uk

25-bed country estate: yours for just £18m - Telegraph.co.uk | Realtyminister | Scoop.it
Telegraph.co.uk
25-bed country estate: yours for just £18m
Telegraph.co.uk
He also created the bathing pavilion and the Temple of Music, which was modelled on Viceroy's Palace in New Delhi.
Realtyminister.com's insight:

Today, the purchase of a home is believed as one of the significant financial decisions in one's life and it takes a person's whole life savings to have a roof above his/her head. While the costs of flat in Mumbai have gone out of reached for any common man, there are still several individuals who desire to expend quite a lot on their houses, that is why they prefer to ready to move residential apartments. 

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