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The season of investments is here. Non Resident Gujaratis (NRGs) that return to homeland almost every winter invest in various properties. Here are popular real estate options NRGs indulge in.
These dollar earners come to hometown between November and March every year, and a major chunk of them invest in real estate. Amidst this time frame, builders and developers market their schemes addressing the NRGs. Also, some developers specifically launch projects during this phase that pre dominantly have NRGs as their target audience.
In last two years, the trend is changing though, the industry experts say that NRGs are looking for various alternatives to invest in rather than just bungalows. Let us gauge this trend and learn the alternatives that are popular amongst NRGs.
Developer Atul Patel exclaimed, “Now the Gujaratis settled abroad have realised India’s potential and can foresee where India is going. India’s international presence has improved and so have the NRGs hopes, now they are ready to invest open handedly and are plunging into new alternatives.”
Initially, they would just invest in a house or villa, but now they invest in weekend homes, destination homes, plot, farm house. When they leave India after their 23 month’s stay, this property is either looked after by any relative or they appoint servant. This way maintenance expense is compensated. Rita and Rahul Shah, American residents, say, “We were considering different alternatives then narrowed down on a weekend home near Sindhrot and have appointed a villager family to look after it until we are back next year in winters.”
Another family of NRGs who have settled in Australia, Mehta’s say, “On our last visit to India, we bought three shops in a commercial complex in Alkapuri and we have given them on rent. It is moneymaking as well as being farsighted and keeping an option ready in India.”
Garima Malvanker, Times Property, The Times of India, Ahmedabad