Analysts believe the luxury real estate market will naturally pick up and aid in the overall real estate recovery cycle.
While the coronavirus pandemic slowed down the real estate market worldwide, the reopening of the market has garnered a huge interest in international property, especially from the uber-rich and NRIs. As per a recent survey, the HNIs and the ultra-rich investors are very keen on investing in the property market, especially in the properties segment of over ₹5 crores.
As per an article by Mint – the metro cities of Mumbai and Delhi saw multiple property deals worth over INR 100 Crore. The HNIs and Ultra HNIs prefer the commercial capital of India, Mumbai for investment and residential purposes. The recent short-term stamp duty waiver announced by the government during the Coronavirus crisis has also played a huge catalyst for high-end property transactions. The HNIs and NRIs interested in investing back home took advantage of this and saved a lot of money, hence making profitable investments.
As per Annuj Goel, MD, Goel Ganga Developments, investors are looking for reliable partners and projects to invest in to make sure they get the right deals and end-to-end support, especially if they are residing out of the country.
Most of the investors are looking for ready for possession properties. The luxury investors are wary of believing in promises of under-construction properties and want immediate possession. Thankfully, post pandemic there are enough and more such credible investment opportunities available, especially in the Indian market.
In a nut-shell, if you live outside India and are looking at investing in India in luxury real estate specifically, right now is the best time to do so. Take the advantage of the short term stamp duty waiver as well and get yourself that dream home.
Connect with us if you want to evaluate such an option right away. We would be happy to help.
