India's luxury housing market is booming, driven by rising incomes, NRI investment, and a preference for upscale living. Sales of luxury homes have tripled in five years, with key cities like Delhi-NCR and Mumbai leading the surge.
FERA, enacted in 1973, regulated foreign exchange dealings in India. Replaced by FEMA in 2000, which focuses on managing foreign exchange while promoting trade and investments. Key differences include property acquisition criteria, shifting from citizenship under FERA to residency under FEMA.
Real estate prices rose across 8 major Indian cities in Q2 2022, with Delhi-NCR leading at 10%. RBI's repo rate hike could influence lending rates. Pune saw a 5% rise, driven by 2 BHK demand.