Indian summer for property investors

Despite purchasing laws excluding most foreigners from purchasing property in India*, experts are tipping India as the next country to experience a buy-to-let property boom.

As overseas property investors search for the next exotic hotspot, they anticipate substantial financial dividends.

Amar Sodhi, Chairman of pioneering overseas estate agents, Avatar International, said: “The property market in India represents an exciting opportunity for Non-resident Indians and Persons of Indian Origin but deciding where is best to invest can be daunting as India is such a large country. Many buyers look to coastal towns such as Goa, where they can have a holiday home that will also generate some rental income. However, for those looking for a purely buy-to-let investment, undoubtedly one of the prime locations for investment is the city of Amritsar in Punjab. Punjab is the best performing Indian state in terms of economy, with the highest income per cap“ita. DLF, one of India’s biggest developers, are, jointly with the India Government, investing over $197 million to develop the infrastructure in Amritsar which will boost the already buoyant financial centre. Increased foreign and local business investment and high levels of religious tourism are supporting the strengthened economy and the resultant influx of business men looking for affordable, high specification homes in Amritsar is fuelling the beginnings of a property boom.

“There is currently a limited supply of suitable housing for these workers on the rental market in Amritsar, and business men are having to resort to staying in local hotels with basic facilities. The unfulfilled high demand for quality properties means that buy-to-let investors who do their research and put their money in to the right scheme should have little trouble leasing their properties and could potentially see high returns on their investments.”