NRIs going on house

The realty sector as of now is lull due to the property prices going overboard. The realty firms are in the doldrums as well as their construction costs are going up. And as if this were not enough, the pulsating middle and upper middle class are also waiting in the wings for the right moment to take the plunge for dreamhouse. In this rather dull period, the large NRIs, especially the Malayali and the Punjabi, are on a rampage. If the recent study of Assocham on the real estate scene in India is any indication, the large Malayali and Punjabi NRI community is on a homepurchase spree. Some of them are also into buying commercial space. This point of the survey looks very convincing as these two communities migrated to others parts of the world in droves, in the past. People from the land of five rivers have been migrating for almost one hundred years, and, the quiet Malayalis have also shown to the world that they are second to none when it comes to going abroad for greener pastures. Of course, that does not mean that NRIs from other states are not purchasing houses in either their home towns or other parts of the country.