India Doesn’t Suits your Budget? Invest in UK, US or Dubai

February 11, 2008	(Be the first to rate this story!)  Loading ...
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If investment in Indian Real Estate seems to be out of your budget, go for UK, US or Dubai. Sounds unbelievable but its true! Real Estate prices in south and central Mumbai is higher as compared to prices UK, US or Dubai. And the best part is, you get all of it without excessive pollution and slums all around you.

Thanks to a foreign exchange relaxation, Indians can now legitimately remit up to $200,000 (Rs79.26 lakh) every year for investment purposes, including property. With two persons (you and your spouse), the amount can be raised to $400,000 a year, enough to buy you decent property in many global cities.

In a budget of around Rs80 lakh will expel you to the outer border of Mumbai’s western suburbs. On the other hand, a two-bedroom-hall-kitchen (BHK) flat at Dubai’s Marina would cost Rs35-60 lakh. More opulent residential configurations would cost Rs1 crore and above. This is a steal compared to rates in Mumbai. In Dubai, Indians cannot actually buy property, but they can lease one for 90 years. On this basis, it is possible to obtain four-bedroom luxury apartments or even decent-sized villas for up to Rs1.5 crore.

Similar investment won’t be able to fetch property in New York or London, but you can get great property for Rs4-5 crore — upwards of around £500,000 — which is what decent property in south and central Mumbai now costs.

News Published Under:   Property Prices |

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