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

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

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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 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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News Network
December 17,2025

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Melkar, Dec 17: The 17th Annual Day and Graduation Ceremony of Melkar Women’s PU and Degree College, themed “Fusion-2K25,” was celebrated with dignity and enthusiasm, marking a significant milestone in the institution’s academic journey. The programme reflected the college’s steadfast commitment to academic excellence, character building, and the holistic development of students.

The event was inaugurated by Mr. Asif Mohammed, whose presence greatly enriched the occasion. The celebration was further graced by the chief guests Mr. P. B. Ahmed Mudassir and Mr. Nissar Fakeer Mohammed, along with the distinguished guests of honour Mr. B. A. Nazeer and Mr. Ibrahim Gadiyar. In their inspiring addresses, the guests encouraged the graduating students and appreciated the dedicated efforts of the management, faculty, and students.

The annual report was presented by the Principal, Mr. Abdul Majeed S, highlighting the institution’s academic progress, notable achievements, and extracurricular accomplishments during the academic year.

The presidential address was delivered by the esteemed Chairman of Melkar Women’s PU and Degree College, Dr. Haji S. M. Rasheed, who emphasized the vital role of education in empowering women and shaping responsible citizens. He also stressed the importance of discipline, dedication, and perseverance in achieving success.

Cultural programmes and academic recognitions formed an integral part of the celebration, showcasing the talents and achievements of the students. The graduation ceremony was a proud moment for the outgoing students as they were formally conferred degrees and wished success in their future endeavours.

Ms. Mashmooma Fathima served as the Master of Ceremonies. The welcome address was delivered by Ms. Fathima Nida, and the programme concluded with a vote of thanks proposed by Ms. Ayisha Suhana.

The event successfully achieved its objectives and was highly appreciated by the guests and attendees.

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News Network
December 4,2025

Udupi: A 40-year-old NRI from Udupi has reportedly lost more than Rs 12.25 lakh in an online investment scam operated through Telegram.

According to a complaint filed at the CEN police station, Leo Jerome Mendonsa, who has been working in Dubai for the past 15 years in computer accessories sales, maintains NRI accounts in Karkala and Nitte.

On November 12, 2025, Mendonsa was added to a Telegram group called Instaflow Earnings by unknown individuals. Users identified as Priya and Dipannita persuaded him to invest in “Revenue Tasks.” Initially, Mendonsa transferred Rs 1,100 multiple times and received the promised returns, encouraging him to continue.

On November 14, another user, Nishmitha Shetty, directed him to register on a website, digitvisionuoce.cc, and invest Rs 4 lakh in various shares. Over the next few days, he made multiple transfers totaling Rs 12,25,000, including Rs 50,000 via Google Pay, believing the scheme was legitimate.

After receiving the money, the alleged handlers stopped responding, and neither the invested amount nor the promised profits were returned.

The CEN police have registered a case under Sections 66(C) and 66(D) of the IT Act and Section 318(4) of the Bharatiya Nyaya Sanhita (BNS), and investigations are ongoing.

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