text: Weak Rupee Attracts NRIs to Indian Property | 2013-06-19 | Global Online Marketplaces
  Home » Weak Rupee Attracts NRIs to Indian Property
  Weak Rupee Attracts NRIs to Indian Property
  According to Mansi Taneja of Business Standard, India's weak rupee is motivating non-resident Indians (NRIs) to buy properties back home. The decline in the rupee might not be a good sign for the Indian economy but for non-resident Indians, this is the time when they scout for properties back in their country. Cashing in on the opportunity to buy residential units cheaper by up to 20%, NRIs are queueing up big time.
  "The enquiries from NRIs for buying property in India have risen by at least 15-20% following the rupee depreciation. The enquiries may go up further once it touches the 60 mark," said Harinder Singh, managing director, Realistic Realtors.
  Sumit Jain, CEO, Commonfloor.com, said the NRI traffic was coming primarily from the US and Australia. And the demand is more for high end properties, and Delhi-NCR and Mumbai being the preferred locations.
  To cater to the NRI needs, property portal IndiaHomes has customised its home page specific to countries where a potential buyer resides. It is also planning to open offices in the US, West Asia and South-East Asia by end of the year, where it already services customers through the online medium.
  Property Portal Watch wrote about how, NRI visitors have contributed to the growth of Property Feast with the top five international locations by unique visitors and growth in 2012/13 originating from the United States with (101%) increase, United Arab Emirates (138%), United Kingdom (75%), Singapore (142%) and Saudi Arabia (135%).
  IndiaProperty.com has hosted very successful Gruhapravesh or 'Property Expo' which showcases high quality options to NRIs, as have other Indian property portals.