CHENNAI: The Indian rupee's sharp dip against the US dollar is tempting NRIs to invest more in the real estate sector in the country. Realtors are expecting a 35% increase in enquiries from expatriates this year, says a study by the Associated Chamber of Commerce and Industry of India ( ASSOCHAM).
The study ranked Bangalore as the most favoured destination based on early enquiries, followed by Chennai, Mumbai, Ahmedabad and Dehradun in that order. The demand appears dull in the Delhi-NCR belt.
The NRI traffic is primarily from the UAE other Gulf countries, the US, Singapore, Australia, UK, Canada and South Africa. A lot of Punjabis settled in Canada and the UK are expected to invest in Chandigarh, Mohali and Panchkula, the report said. The random survey of nearly 1,250 real estate developers across the country.
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