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Bangalore a hotspot for NRI property investments

While Mumbai still retains the top spot at 31.86 per cent (leading marginally) amongst UAE-based Indians, Bangalore is in second with 24.35 per cent.

Bangalore has emerged as one of the hottest spots for property investments by non-resident Indians, according to a recent survey on Indian properties by Sumansa Exhibitions, the organisers of the Indian Property Show in Dubai.

While Mumbai still retains the top spot at 31.86 per cent (leading marginally) amongst UAE-based Indians, Bangalore is in second with 24.35 per cent. Chennai and Pune were in third with almost equal percentages of people preferring these cities. Delhi was at fourth followed by Cochin, Navi Mumbai, Hyderabad and Gurgaon.

“Bangalore’s property market bucked the trend in other metros with many new launches, good demand and resilient prices.Sector experts predict that residential property in the city will remain a good bet for 2014, too,” said Sunil Jaiswal, chief executive officer of Sumansa Exhibitions.

“Bangalore is the third-largest real estate investment hub for high net worth individuals and tops the list in terms of investments from NRIs looking at settling down in India in the future. With a high net-worth individuals population of about 10,000 — the third highest in the country after Delhi and Mumbai — Bangalore’s super-luxury segment is also worth watching.”

The Indian Property Show, will be held from June 12 to 14 at the Dubai World Trade Centre.

— business@khaleejtimes.com