The real estate bubble is blooming with huge investments from all sides, the Government of India (GOI), individual builders, infrastructure developers, large conglomerates and NRI's or the Global Indians. The contribution of the Indian Government and other factors to the attraction for NRI investments in realty sector of India includes:
Sale of land for residential, commercial and industrial development.
Infrastructure support for the realty development all across the country
Promotion of NRI investments and FDI
Policies for transparency and facilitation of real estate transactions
Liberalization of rules by GOI and RBI regarding NRI property and NRI homes investment.
No restriction on the maximum number of properties that can be bought
Easy finance availability
Simpler repayment processes like normal inward remittances or debit in their NRE or NRO bank account.
The various above-mentioned factors have given the Indian real estate market a potential of touching USD 30 million in the next five years. An estimate of 5 million homes recorded sales in 2005-2006. Even the returns from the real estate investments have out performed other investments. Easy home loan availability by financial institutions in India, NRI remittances and repatriation procedures and easy operability of NRE, NRO and NRCS bank accounts has emerged as the best of all the available prospects for the NRI's looking forward to returning to India.
