CHENNAI: High land prices do not deter
the NRIs from investing in real estates in India as their. investments gathered
momentum despite high land costs, a top official of a leading online property
portal said.
"These NRIs earn much more than what an average Indian
get and this is also one reasons for them to make property investments in
India", Consim Info Pvt Ltd's Chief Marketing Officer P Gopala Krishnan said.
Referring to a property fair conducted by them at Dubai in May last,
he said more than 5,000 people visited the two day expo and a business of Rs 250
crore was transacted.
"We took around 50 builders with us and almost
all the people who visited the fair were NRIs" he said.
Giving
statistics, he said that 50 per cent of NRIs prefer to invest anywhere in India
while 23 per cent ranked Chennai, Bangalore, Mumbai as the most preferred
destination for property investments.
"About 15 per cent preferred
to opt for Tier II cities", he added.
On the choices of investments
preferred by NRIs,he said 30 per cent of NRIs prefer to buy properties worth Rs
50 lakh to Rs 80 lakh, 20 per cent prefer properties worth 1.5 crore to Rs two
crore while 15 per cent NRIs prefer properties between Rs five lakh to Rs 20
lakh and five per cent prefer Rs two lakh to five lakh.
"Through our
website we have around 5,000 clients and 2,50,000 properties are listed on the
website and about one million visitors view our website per month" he said,
adding the NRI traffic per month was between 30-40 per cent.
