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NRI’s Investing into Second Homes
Waking up to the sound of birds chirping, walking on tender grass wet with the morning’s dew, listening to the sweet songs of flowing water as memories of an earlier time come flooding over you, soaking in the delights of nature over a cup of coffee. if this is your dream, investing in a second home is the road to realise it.
Though owning a single house continues to remain a dream for most people, buying a second home obviously continues to be nothing more than a fantasy. However, this relatively new concept in India is catching up with many high net worth individuals (HNIs) and non-resident Indians (NRIs). The main aim for buying a second home is to have a relaxing place away from the hustle and bustle of city life. This also becomes a good investment avenue, as the second home segment all over the country has appreciated astronomically in recent times.
The aspirations of the new generation are changing and steadily growing. As a result of liberalisation and strong growth of the economy, they have very high incomes and, therefore, have huge disposable amounts. Home loans are easily available and at highly competitive rates to fill any gaps that exist. Real estate has already emerged as a decent and transparent investment option. The availability of a wide variety of residential formats and options of locations and budgets became an attractive proposal for the newly-emerged consumer class besides NRIs to go in for it.
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