CONTRIBUTION OF NRIs TO THE REAL ESTATE BOOM

The real estate market in India is getting hotterThese are not just one-off reports that are
not only from within but also from outside. If themaking headlines in the Indian real estate business.
local investors are leveraging the higher trend ofRather, such investments are becoming a routine
real estate rates from within, it is pressure fromin the highly rated real estate boom in India. The
the Non Resident Indians (NRIs) and global marketNRI investment in India is constantly on the
players that are determining the future of the realupswing thanks to the liberal investment policies
estate boom in India.of Indian governments at the Centre and the
Malini Alles, a Silicon Valley billionaire and socialStates.
activist has launched Maia Fund, a real estateThe technology boom is largely considered as a
$150m fund with a greenshoe option of anothermajor contributing factor in the present boom in
$100m to invest in the Indian property market.the Indian real estate sector. The tier I cities like
She also proposes to chip in $10m into the fund.Bangalore, Delhi, Mumbai have registered a
An entrepreneur from US, Raj Vakharia,phenomenal growth in the past decade. This
announced the launch of a private equity fund,boom is slowly percolating to the tier II and tier
which will invest $250m worth of US institutionalIII cities like Chandigarh, Gurgaon, Pune,
capital into India's booming real estate market.Hyderabad, Mysore.