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05 June 2014

How first time home buyers are making moves to purchase property and NRIs increasing in buying Property for Investment in India

Property for investment, NRIs are boosting sales with correction in property prices and land is coming as a gold mine for investors from abroad. Not only do they feel the prices low as compared to Dollars but also they get a space in the home land which also has sentimental value for them. On one side where there is lots of activity going on from the NRI sector there are comparatively fewer sales for first time buyers. Still as they start making moves in buying property, the first time buyers, the couples who are both working are happy to move ahead and invest in their own homes.
Home rates and home loans amounting of large sums to be repaid every month as EMIs is taking its toll on the psyche and pocket of new married and planning to settle individuals. When smaller sized homes are also going beyond budget there is little hope for any prices to fall any lower.
It really becomes impossible for individuals to pay out lakhs of rupees as every month repayment amounts. Where people love to have bigger homes the actual area they are receiving is getting smaller and smaller as compared to the picture photograph plan they are shown at time of purchase. 
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Also the first time buyers with the inflation and increasing costs and insecurities of job and work are hesitant to make the move as this is a long term planning and needs patience and well financial planning. Most of the couples opting for buying home today and applying for home loans are the ones that are both working. Here it becomes simpler as one of the salary is kept aside to repay the home loan and the other used up as family expenses. Construction everywhere is going in full swing and towers are getting full sooner and sooner.
There is a positive trend seen in purchase of home and as many financial companies are continuing to lure the borrowers with perks and offers people who are ready to shell out every month are the ones making the moves and going ahead in purchasing first time homes.

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For the NRI investors the rates are just a matter of time and as they already have the money to be invested , they just need the right place. India is coming up a as favorite among foreign investors because of its land rates and available of large expanses of open land property. Also once their financial  consultants find the right papers and clear off the documents there is no looking back and heavy investments continue pouring from NRI sector in form of property investments.


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