NRIs home in on India, account for 10% of sales
Home sales in India might have turned sluggish but sales to non-resident Indians (NRIs) are booming. According to Jones Lang LaSalle Meghraj (JLLM), residential sales to NRIs have tripled over the last six months, from 3% to about 10% of the total sales.
What would happen when one loses his job in the US? The downturn is scaring many NRIs who fear job cuts, says JLLMs Raminder Grover. There is a renewed interest in selling abroad, says Lodha Group senior VP R Kartik.
Many NRIs have been thinking of coming back to India and many of them are making safety investments, explains Mr Kartik. Over the last few months, Lodha has seen a 25% increase in its sales to NRIs.
More : economictimes.indiatimes.com