The Indian real estate market offers lucrative investment opportunities for NRIs, particularly due to the rupee's depreciation. Experts suggest that now is a good time for NRIs to invest in various property types.
The urban development ministry calls for a review of the proposed service tax on housing projects, amidst concerns over its impact on the struggling real estate sector.
Urban Development Minister Jaipal Reddy seeks additional package to reverse real estate sector slowdown. Proposes measures including rationalization of home loan interest rates and increased tax exemption on rental income.
NRIs are avoiding real estate investments in India due to the global economic downturn, significantly impacting the realty sector.