Indiabulls and Doha Bank signed Agreement for NRI Deals

Posted: March 21, 2013 in Current affairs
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Financial non banking private firm Indiabulls Real Estate Ltd has signed agreement with Doha Bank to provide its NRI customers lucrative deals on their properties in India. This will open a new door of opportunities, and it will be a win-win situation for the both.

 
This special offer will provide a few great features like special offers on Indiabulls properties, Complimentary Home Loan eligibility checks, and exclusive promotion for Doha Bank Indian customers.
 
This agreement will eventually help its NRI customers to acquire lands or properties in India by offering them mortgage loans for the purpose. The demand for home loans and property acquisition has been increasing quite a lot among the NRIs in Indiabulls’ housing projects. This new agreement will serve this purpose for the better results.
 
Mr. Santosh Tandel, who is the current Regional Head of MENA Region, Indiabulls, explained a few key details of the agreement. The following is the some excerpts from what he said on this pact.
 
“With the opening of an office in Dubai last year, company’s future plans include opening of offices in other GCC countries including Qatar. We aim to connect more and provide seamless service through the arrangement. Gulf NRIs have always contributed significantly in the Indian economy whether it is remittances or investments in properties.”
 
He added that NRIs of Gulf Cooperation Council (GCC) countries are showing their interestfor accurate investment opportunities in the lucrative properties for quite constant basis. They are mainly looking to invest on such properties, which can be used for investment purpose and end use both. According to him overall NRIs manage for 25 per cent of its overall business plan.
 
“With an approximate 20 per cent of the Qatar’s population comprising of Indians, the need to have a local representation catering to this segment was vital,” he quoted. Here we should understand that India-USbilateral trade likely to touch $500 billion in next 10 years.
 
It has to be mentioned here that the Indian core real estate market is very much likely to reach $90 billion by the year of 2015, and as per now the market is undergoing a prime shift to boost up the wheels of fortune. Various Gulf-based NRIs are showing their interest to into the realty market of India for high returns. Due to the continuous fall of the Indian rupee in the global market the high returns are very much likely from the investment in Indian properties, and this fact is quite encouraging for the Arabian NRIs.
 
Mr. Tandel also said a few more things on the advantages and impacts of the said agreement. As per him when a NRI thinks about investing in India, he/she always prefers to choose invest on the properties, as it is one of the most safe, secure and lucrative option for the high return chances. In order to create assets in the country they always look for a good, reputed reliable brand to invest and a considerable price point which is good to enter.
 
All the NRIs, who want to invest, always want to go with reputed developer with good previous track record. Quality and possible price appreciation is a very important factor to them, Tandel concluded.

 

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