Buying a flat in India isn't only about emotions. It's also good business sense that drives NRIs to put their money back home

MORE NRIS INVESTING IN PROPERTY HERE Buying a flat in India isn't only about emotions. It's also good business sense that drives NRIs to put their money back home, says AVIJIT NANDA     Buying a dream house in India is no longer a pipedream for Indians abroad. Be it in one's cozy little hometown, in the peaceful countryside or in a bustling business centre, investing in an apartment is now making business sense to a large number of non-resident Indians (NRIs).      Indians settled abroad retain an emotional attachment for the country. Even after decades of living abroad,they never get over the feeling that 'home' is a place called India. An urge to return sooner or later is integral to a NRI's mental makeup. For an Indian who has gone abroad and realised his dreams of making it big, there is also an urge to gift a beautiful and spacious home to his parents and siblings. It gives a NRI great satisfaction to know that his family is now living well back home.      And so, it makes emotional sense for a NRI to buy a dream house in India - usually in his city of origin, or close to it. The recent crop of construction companies is building homes of extremely high quality, comparable to the ones that NRIs are living in abroad. The high quality of recent constructions allays the NRI's greatest worry - that when he returns home, his family will have to compromise on the quality of life that they have become used to. The superior quality of tiles and fixtures in the apartments themselves are doubtless compatible with global benchmarking, but more importantly, the quality of amenities - lift, compound, swimming pool, club house etc - sets the NRI's mind at ease.      Buying a flat in India isn't only about emotions - it's also good business sense that drives thousands of NRIs to put their money in Indian real estate. Having sustained the ups and downs of several financial cycles - both Indian and global - Indian proper ties are a proven investment option.      Having decided to invest in a property here, a busy NRI has a number of questions - how to work through the modalities, who will guide him, site visit, finance, legal paperwork etc. Earlier, crossborder transactions posed challenges, given the need to send money across countries, buy or sell currencies etc. However, all that is a thing of the past. E-banking and ease of online money transfer is now motivating many Indians to exercise their choices. For this reason, businesssavvy NRIs who build their net-worth trading in other markets book profits, and then lock in the value by investing in spacious apartments for themselves and their parents, and also their growing children.      With the advent of online portals offering such services, many NRIs can now conveniently access worthwhile properties , virtually 'feel' the houses and its amenities, and invest in their dream homes. When the NRI customer reaches out across national borders and finds online service providers willing to reach out and hold his hand - that's when all challenges are overcome, and the promise of India is truly fulfilled.  QUICK  BYTES AN URGE TO RETURN SOONER OR LATER PROMPTS NRIS TO INVEST IN PROPERTY HERE A LARGE NUMBER OF NRIS BUY RESIDENTIA L PROPERTY HERE FOR THEIR PARENTS AND SIBLINGS LIVING HERE THE STATEOF-THE-ART RESIDENTIA L PROJECTS AVAILABLE HERE WOO NRIS

source  http://epaper.timesofindia.com/Default/Scripting/ArticleWin.asp?From=Archive&Source=Page&Skin=TOINEW&BaseHref=TOIA/2011/12/18&PageLabel=35&EntityId=Ar03500&ViewMode=HTML