Indiabulls set to launch operations in GCC countries

United Arab Emirates: Wednesday, June 12 - 2013 @ 11:21

Alongside company has also formalized strategic alliances with banks and financial institutions to offer home loans to the Indian expatriates in the region interested in investing in their projects.

“There has been a growing demand from expatriate Indians for home loans and property acquisition. Given our pan India presence, Indiabulls’ housing projects have evoked a tremendous interest among the NRI community. Indiabulls alliance with Doha Bank offers mortgage loans to its NRI customers for acquiring properties in India. With that, company has now concluded similar alliances with banks and financial institutions in UAE, Oman and Kuwait to offer home loans to the NRI community alongwith providing personal loans from local financial institutions. Our endeavor is to present end to end solutions to the expatriate segment giving investment options as well as financial solutions. The idea is to reach out to the customers, offer convenience of dealing and comfort in decision making,” said Mr Santosh Tandel, Regional Head – MENA Region, Indiabulls.

“Indiabulls exclusive real-estate residential projects range from premium housing that comes with affordable solutions to the most luxurious, upscale and swanky signature residential projects. The projects are equipped with top of the line amenities and are built with superior construction quality standards. Additionally by adding element of attractive payment options and exclusive financing solutions for home loans through the financial services wing of Indiabulls Group, buying a property has been made so very convenient for the customers.Homeloans starting from 10.15% and schemes like 15:85 or 20:80 ensure that the customers are able to take investment decisions much faster considering that they don’t have any financial burden of EMI or interest payment for the first couple of years,” added Mr. Tandel.

Given the favorable exchange rates in the past couple of days, remittances back to India have again seen an upward trend. This would be a great positive factor for the expatriate community in taking their investment decisions. With rupee being near to an all time low, the customer can expect appreciation on both the currency as well as the real estate transaction in years to come.

“Our experience has been that good products at good price points are well accepted by the customers. GCC market has the ability to absorb units with prices from 20 lacs to 20 crores. The only thing is that the customer needs to see value. Our Sky forest project with an average ticket size of 7-8 crores got a huge response from the NRI community and we were able to achieve our targets in the just 3 days,” commented spokesperson.

Non-Resident Indians (NRIs) are one of the key contributors to the growth of the real estate industry. There are two segments of customers– the asset creators and the investors. The asset creators typically look for residential properties back at their home towns, so their interests lie in the cities where they originate from. The investors typically would invest in the properties, then dispose of the property after about 3 to 5 years and for the very reason they look at areas where they expect considerable appreciation in property prices. With rupee depreciating in past couple of years, there has been a good amount of remittance going back to India. Additionally the bank deposits have also started yielding good returns, making it a good investment alternative. However properties continue to be a preferred choice for expat Indians for investment and asset creation. What they look for is a good brand to invest and a price point which is good to enter. Integrated township construction spread across acres of land is the most popular choice of NRI investors. It is also a way for them to connect with their roots.

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Wednesday, June 12- 2013 @ 11:21 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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