The Indian diaspora has been an important source of inflow of funds in India. The remittances are received for a multitude of reasons, such as maintenance of family, repayment of loans or other purposes. Over the years, non-resident Indians (NRIs) have also invested a substantial sum in the real estate sector, including residential properties, due to its attractive valuation and potential for capital appreciation. NRIs may also inherit a residential property from their family members in India.
Partner, Grant Thornton India LLP
This article appeared in Live Mint on 01st February, 2019