Indian currency is crashing! I would like to buy Indian property...

[italiandragon]

But I think foreigners can't, is that correct?

Also, can anyone tell me if a Lakh is 100,000 Rupees?

Thank you

 

[BrandFishing]

Yes. 1 lakh is 100000 rupees

 

[johname]

Gold Hits All-Time High Against Rupee

http://www.forbes.com/sites/kitcone...gh-against-rupee-curbing-demand-say-analysts/

 

[Keral_Patel]

Yes :D Time to earn some dollars for Indians if they want to get the best out of this situation. :D

And Lorenzo I would like to mention that Yes property rates have been stable from last 1 year or so. They were rising very fast but now there is a bit of correction in that market.

 

[GILSAN]

Indian stocks are also way down at the moment. May be a good time to buy some

 

[Sabre]

What kind of capital do you need to enter into the Indian property market at the moment? Where's growing at the moment (and is likely to keep growing)?

 

[Kenny]

This is a dandy little conversion site:
http://coinmill.com/

100,000 INR = $1502.08
9/1/13

Peace,
Cy

 

[Keral_Patel]

What kind of capital do you need to enter into the Indian property market at the moment? Where's growing at the moment (and is likely to keep growing)?

I don't know much about other cities.

But in my city.

Getting a house in multi storied apartment = Starts at 50K USD approx upto 200K USD.

Getting a bungalow in good locality and proper area = Starts at 150K USD upto 600K USD. Rest just depends on how many square feet the area of the land is.

Return of investment used to be 2 to 3 times within 5 years but this used to be true back in 2008 and 2009.

Now you can expect returns after a long term investment. Until and unless you find a great deal somewhere just waiting for you to jump in

It is growing in many cities but after saying that I have spent quite sometime researching all the things. There are like 50,000 homes which doesn't have any buyer because they are located on outskirts of the city. While there are like 200 homes and 2000 buyers at one place which is located inside the city and in good neighbourhood.

All in all. Till today I have just made 20 to 30 times the returns in last 5 years but now it is getting tougher and I have not been able to even get 1 house because I just don't want to buy in order to buy it. It should also be profitable in short or long term.

Have negotiated with one guy from last 2 or 3 months and have dragged him down till 35K USD to sell me one of the house so maybe next week I might give it a try. If there is a short term gain then great. Otherwise it can sit back for a decade and fetch me something. :bingo:

Thanks.

 

[princysharma1990]

Yes exactly Indian rupee is hitting its record low and also the property rates in India have fallen, so its good time to invest in properties.

 

[anupam27]

Yes 100000 is one lack.

 

[italiandragon]

Yes :D Time to earn some dollars for Indians if they want to get the best out of this situation. :D

And Lorenzo I would like to mention that Yes property rates have been stable from last 1 year or so. They were rising very fast but now there is a bit of correction in that market.

Oh oh oh look who is alive! I missed you boy....how is life?

I did buy some Lyxor Ucits Etf Msci India since I wrote here and made a few $$$ in few days :D

 

[Keral_Patel]

eheh How are you

Welcome back

I was just sneaking around not being active a lot

Oh oh oh look who is alive! I missed you boy....how is life?

I did buy some Lyxor Ucits Etf Msci India since I wrote here and made a few $$$ in few days :D