As a nation with the 4th largest GDP in Asia, and the 4th largest economy in terms of purchasing power in the world, India’s real estate scenario is set to expand by enormous proportions. By 2010, the real estate sector in India is estimated to be 45-50 billion USD .Every industry, from IT to Hospitality will witness growth of steep proportions, and they will require more floor space. Organized retail in India, which accounts for just 2 % of the USD 200 billion sector, is expected to grow from USD 4 billion to USD 15 billion by 2010. As far as the Hospitality segment is concerned India will need another 75,000 to 100,000 rooms in the next 5 years.

This is also the right time for Non Resident Indians (NRIs) and People of Indian Origin (PIOs) to invest in this sector. Under the new procedures, NRIs can purchase residential/ immovable property in India, rent lease, transfer or sell them. However, the regulations do not permit the NRIs and PIOs to acquire agricultural land, plantation and farm house. With the government allowing 100 percent repatriation, they can also take the rental income and capital investment in the property outside India, subject to foreign exchange regulations. The NRI/PIO may use his own funds to acquire immovable property, other than the option of availing home loans from banks for this purpose.

Tracing an appreciating property in a premium location is not an easy task for an NRI and to provide proper guidance to them in this regard, a league of realtors has evolved, which caters primarily to NRI investors.

India in its hour of glory will definitely need the skill and capital that NRIs have to offer, and it will be a cherished homecoming.

The ache on leaving the nation, and the consequent nostalgic longing, can now be replaced by a joyous sense of homecoming coupled with the pride that owning a share of the motherland only can give.