Chances are that you are reading this article because you are an NRI or PIO looking to invest in property in India.
Well congratulations on your great decision, because at this juncture India is a great place to invest in. Why is that?
- Firstly, the real estate industry in India has been literally unaffected by recession.
- Secondly, the governmental policies are also geared for the industry’s complete development.
- Thirdly, owning properties by NRIs has become a hassle free process.
- Fourthly, the profit return percentages are quite high.
- Fifth, the varieties of properties available are extensive.
But no matter how tempting it sounds, it is not always possible for you to come down to India, in person, to scout for properties. But don’t lose heart there are ways to do it without being physically present.
So let us see how the job can be made easier for you.
1.Take a peek into forums
If you want unbiased view points and real life accounts of personal experiences from customers (whether satisfied/unsatisfied) then real estate forums are the best place.
The best thing about a forum is that here you never feel alone because you find so many people undergoing the same crises that you are in.
It is also possible to contact them directly for a candid chat. It is most likely that you may bump into an NRI property investor with the same search criteria as yours. Here are the links to some of forums that I visited:
2. Make use of the social media channel
Social media is the rage nowadays and that is for a reason. It is versatile and can target specific audience, for e.g. on Facebook you may find the page of the builder you have selected.
The page will naturally have fans and also candid comments. You can get a fair idea about the project of the builder you are interested in. You can also contact any of the fans to get a personalized review from them.
3. Surf Youtube
This channel has till now been an excellent medium for sharing videos. But now to make your real estate search easy, there are many builders who are posting videos on Youtube. The detailed videos give a virtual tour of the exterior and even the interior of a property.
Real estate agencies too have channels dedicated to showcase properties of different builders. Some of the projects are even separate categories for your ease like a particular area, a particular builder etc. A popular real estate channel on Youtube is owned by Propertywala which showcases many residential apartments.
4. Check out builder websites
Some builder websites provide a detailed video tour of the whole property on their website. Renowned builder Prestige has a video tour on its website that guides prospective customers to its property via a detailed guided roadmap. Check out this link:
A handy tool, it is also a great navigation device for scouting the area.
5. Keep a lookout on property related websites
Many websites dedicated to property search, rentals and real estate news may have blogs to inform people about certain apartments, building or villas.
They usually have a large database of property related information that can come in handy, so it is easy to compare. Moreover all new properties are advertised here by owners, brokers and builders so you can get the best deal. I am sure as a NRI real estate investor you are aware of Magicbricks, 99acres, and Commonfloor some others are:
There are usually certain insecurities that plague every NRI property investor before and when they buy any property in India. But the Internet has successfully filled the void that NRIs used to experience when they wanted information about any property in India.
Presently there are innumerous websites dedicated to properties, property related queries, blogs, forums and almost every builder (renowned) has some kind of Internet presence. This makes it easier for you to choose, compare and even strike a deal without flying in to India.
Ali Vakil is the creative and marketing brain behind many widely successful real estate projects. He is majorly credited for the presence of credible and transparent data on the web, helping simplify various issues related to home buying for scores of home buyers.
Ali Vakil is a Chartered Accountant by profession and holds keen interest in Art, Graphics & Web Technologies. He is currently serving as the Director Marketing & Communications at Vakil Housing.