NRI investments in housing set to almost double to $11.5 billion this year from 2013 level: Report

The Narendra Modi-led government has given a significant boost to the confidence of the non-resident Indians (NRIs), with their investment into the primary residential real estate market expected to almost double this year.

About $11.5 billion of investment by NRIs is expected to come in the new home or primary residential market across top 8 major cities in 2017, against $6 billion in 2013, according to a report by real estate transaction platform Square Yards.

“It is believed that the new change in government has infused new sense of confidence about the prospects of Indian economy,” said Kanika Gupta Shori, COO and co-founder, Square Yards.

Read full story here- http://www.hindustantimes.com/real-estate/nris-back-to-their-investing-ways-expected-to-put-in-rs-1150-crore-in-realty-market-in-2017/story-PhTRzEe1BywdgWp2n5AJ0O.html