How to woo NRI investors?

There are an estimated 30 million non-resident Indians (NRIs) spread over 140 countries with an estimated wealth of $1.2 trillion. The NRIs constituted the highest remitters of foreign exchange consecutively for the years 2010 and 2011. Over 6-8 lakh resident Indians leave the country in search of greener pastures and an estimated one lakh NRIs return home every year. Real estate is the most lucrative investment option for these millions of expatriates, who can pump in their hard earned funds in indian real estate sectors and can earn handsome returns in a short period of time. Real estate plays a key role as the rate of appreciation and periodical returns on investment are more in India. Moreover, a number of NRIs, particularly in West Asia, who cannot continue to stay there due to various domicile laws will have to come back home sooner or later. This is a prime reason why they always look at various investment options including real estate back home for permanent settlement. These NRIs can invest in three kinds of investors in real estate - low, middle and high income groups. In the Association of Gulf Cooperation Council countries (comprising UAE, Saudi Arabia, Qatar, Oman, Bahrain and Kuwait), an estimated 55-60 lakh NRIs are working today including semiskilled and unskilled labourers. Similarly, out of 1.6 million NRIs in Malaysia the preference is more towards southern cities here from where a majority of them come. In Canada, there are NRIs predominantly from Delhi, Chandigarh, Punjab. In the US, out of 2.5 million NRIs, southern cities of Bangalore, Chennai and Hyderabad dominate in terms of real estate requirements. The specific real estate needs of NRIs vary depending on the region, savings potential and a combination of other factors.