Decline in value of rupee luring Gulf NRIs to buy property in India

[email protected] (CD Network)
November 15, 2012

nri

Mangalore, November 15: The decline in value of rupee over the last one year is luring expatriate Indians living in Gulf countries to buy property in India even if the price stretched up to Rs 1 crore or more, according to a survey.

According to the survey conducted here by Sumansa Exhibitions who are organisers of Indian Property Show, 89 per cent of NRIs (non-resident Indians) in the UAE are planning to leverage the power of their additional income by investing in properties worth up to Rs 1 crore and beyond.

The weakening rupee gives more power to dirham currency that they have and current sluggish market enables them to buy properties at a cheaper rate in India, it said.

It added that 26.7 per cent NRIs are looking to buy properties as additional investment, a sharp rise of 6 per cent in one year.

NRIs in the UAE mostly prefer investing in property as it is one of the safest option and gives good return as the capital value of any property appreciates, Sumansa Exhibition CEO Sunil Jaiswal said.

"Plus, there is always feeling of returning home since NRIs don't get citizenship in this region, so property investment becomes natural choice. We can support this further as the survey also reveals that Mumbai, Bengaluru and Delhi feature in the top five destinations list," he said.

This shows that they are looking for cities which will give them good returns, he said. "Even if the NRI takes home- loan, his payouts are much cheaper as compared to last year. Hence, overall investing in this sector when rupee is low, makes sense," Jaiswal added.

Honey Katiyal, CEO of Dubai-based Indian real estate consultancy Investors Clinic, said over the last year, his company has witnessed demand for properties which are higher in value as the NRIs want to cash in on this situation and invest more to get better returns in future.

The trend is to invest in additional property in metro cities and enjoy the capital appreciation in 4-5 years time, he added.

A representative of Indiabulls said with rupee depreciating in the past couple of years, there has been a good amount of remittance going back to India.

Additionally, the bank deposits have also started yielding good returns making that as a good investment alternative.

"However properties continue to be a preferred choice for expat Indians for investment and asset creation. What they look for is a good brand to invest and a price point which is good to enter. For NRIs, a reputed developer with good track record, quality and possible price appreciation is an important factor," he said.

Sunil D'Costa, Manager (International Sales) Sahara Prime City, Sahara Group's real estate division, said: "Property investments in India are believed to be the smartest move as chances of loss are negligible. The growth graph of the real estate sector is observed to be escalating day by day".

Rupee depreciation against the dollar is a great attraction for NRI's to invest back home so if you keep a horizon of 2-3 years, an average return of 25-30 per cent is guaranteed, he added.

"In terms of location, other than metropolitans and Tier-1 cities, momentum of investment in Tier-2 and Tier-3 cities is quite high, plus the rate of appreciation is much more due to fast paced infrastructural developments," he added.


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News Network
December 4,2025

Mangaluru: Chaos erupted at Mangaluru International Airport (MIA) after IndiGo flight 6E 5150, bound for Mumbai, was repeatedly delayed and ultimately cancelled, leaving around 100 passengers stranded overnight. The incident highlights the ongoing country-wide operational disruptions affecting the airline, largely due to the implementation of new Flight Duty Time Limitations (FDTL) norms for crew.

The flight was initially scheduled for 9:25 PM on Tuesday but was first postponed to 11:40 PM, then midnight, before being cancelled around 3:00 AM. Passengers expressed frustration over last-minute communication and the lack of clarity, with elderly and ailing travellers particularly affected. “Though the airline arranged food, there was no proper communication, leaving us confused,” said one family member.

An IndiGo executive at MIA cited the FDTL rules, designed to prevent pilot fatigue by limiting crew working hours, as the cause of the cancellation. While alternative arrangements, including hotel stays, were offered, about 100 passengers chose to remain at the airport, creating tension. A replacement flight was arranged but also faced delays due to the same constraints, finally departing for Mumbai around 1:45 PM on Wednesday. Passengers either flew, requested refunds, or postponed their travel.

The Mangaluru delay is part of a broader crisis for IndiGo. The airline has been forced to make “calibrated schedule adjustments”—a euphemism for widespread cancellations and delays—after stricter FDTL norms came into effect on November 1.

While an IndiGo spokesperson acknowledged unavoidable flight disruptions due to technology issues, operational requirements, and the updated crew rostering rules, the DGCA has intervened, summoning senior airline officials to explain the chaos and outline corrective measures.

The ripple effect has been felt across the country, with major hubs like Bengaluru and Mumbai reporting numerous cancellations. The Mangaluru incident underscores the systemic operational strain currently confronting India’s largest carrier, leaving passengers nationwide grappling with uncertainty and delays.

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News Network
December 2,2025

Mangaluru, Dec 2: Mangaluru International Airport responded to a medical emergency late on Monday night. Air India Express flight IX 522, travelling from Riyadh to Thiruvananthapuram, was diverted to Mangaluru Airport after a passenger in his late 30s experienced a medical emergency on board.

The Airport’s Operations Control Centre received an alert regarding the passenger’s health condition. The airport activated its emergency response protocol, mobilising the airport medical team and coordinating with stakeholders including CISF, immigration, and customs. 

Upon landing, airport medical personnel attended to the passenger, assessed his condition, and arranged to shift him to a local tertiary-care hospital for further treatment. The passenger’s relatives accompanied the passenger, who incidentally received necessary medical care on board, which helped stabilise the situation.

Following the handling of the emergency, the flight departed for Thiruvananthapuram at 2:05 am on Tuesday.

"We appreciate the cooperation of all parties involved, and this incident reaffirms our ongoing commitment to prioritising passenger safety and readiness to respond to unforeseen emergencies with professionalism and care," the Airport spokesperson said. 

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News Network
December 15,2025

Udupi, Dec 15: What was meant to be a post-pilgrimage gathering turned tragic in Padukere village of Brahmavar taluk, Udupi district, late Sunday night, when a clash among youths escalated into a fatal assault, leaving one man dead.

The victim has been identified as 30-year-old Santosh Mogaveera, a resident of Padukere.

According to preliminary information, the incident took place during a late-night drinking party involving a group of local youths who had recently returned after completing their pilgrimage to the Sabarimala shrine. An argument reportedly broke out among the group and soon escalated into a violent confrontation.

During the ensuing brawl, Santosh Mogaveera was allegedly assaulted and collapsed at the spot after sustaining serious injuries. He was rushed by local residents to a private hospital in Brahmavar, where doctors declared him dead.

On receiving information, senior police officials, including Brahmavar Circle Inspector Gopikrishna, Kota Police Sub-Inspector Praveen Kumar T, Station ASI Manthesh Jabagoudar, and head constables Pradeep and Ashok, visited the spot and conducted an inspection.

Police have taken four youths into custody in connection with the incident. A case has been registered at the Kota police station, and further investigation is underway to ascertain the exact sequence of events leading to the death.

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