Home Calling: Tata Housing Offers Lucrative Offers For NRIs
As the sector recovers from a stagnant phase, this may be the right time to invest in the real estate in India, for domestic as well as Non-Resident Indians (NRIs). Property prices are already witnessing an uptick in major Indian cities and may shoot up further in future. A recently released data from the Reserve Bank of India's House Price Index showed a price rise of 13.73 per cent in the 10 cities surveyed. Sensing the opportunity, developers are coming up with lucrative offers and schemes to target real estate investors, especially the NRIs.
Tata Housing Development Company, for example, has been running several campaigns to attract NRIs keen on investing in real estate in India. To make buying homes more convenient, Tata Housing displays all its projects online, and has launched an integrated payment gateway system to attract NRIs. Using the integrated online payment gateway system, NRIs can do the entire purchase online. NRIs contribute to about 15-20 per cent of the sales of Tata Housing and the company expects to raise the share of purchase from NRI real estate investors to 25-30 per cent in the next three to four years. As more NRIs visit India in the later part of the year, Tata Housing thinks that this is the best time to reach out to them.
A look at the offers real estate major Tata Housing Development Company recently launched:
- In July 2015, Tata Housing had run a “Happy Returns” campaign that was successful in attracting NRI investors.
- The company recently launched a “Buy Home Fly Home” special offer for NRIs. NRIs who buy homes in any of the Tata Housing projects across India will receive 87,000-40,00,000 Jet Privilege miles. The free miles will be credited to the NRI's Jet Privilege account after he makes the 20 per cent payment for the house. Even if the NRI home buyer, does not have a Jet Privilege account, he will be able to get the free miles credited, after creating a new account.
- Tata Value Homes, a Tata Housing subsidiary, also launched “Double Your Dollar” scheme on December 17, which allows NRIs to profit from the weakening of the Indian Rupee. The company expects customers to buy more homes under this scheme at the end of this year and the beginning of 2016. Tata Value Homes says that it sees the number of queries from NRIs to make investments here going up.