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Gera in News

Sliding has more NRIs look up Indian properties

Times of India - 14 July, 2013

PUNE: The continuous slide of the rupee against the US dollar may be a cause of concern for many, but has led to NRIs considering investing in real estate back home. Industry observers said there has been a marked rise in the number of inquiries from NRIs and international investors in the last six months, during which the rupee has declined over 10% against the dollar. Realty developers and observers told TOI that the trend is more noticeable in the commercial real estate sector, which is suffering from weak interest andhigh vacancy for the last many quarters. Though the US dollar has hardened against many other currencies, NRI investors are more inclined towards India, albeit partly, due to the emotional bond with the country. The interest is primarily rooted in the fact that they would be shelling out fewer dollars to acquire properties than they would have last year, experts said. The current interest in real estate is only reflective of an established trend, just that it has picked up. According to Reserve Bank of India (RBI), the net NRI remittances into India are rising with the current fiscal registering a record net inflow of over US $12 billion, almost double the remittances of US $7 billion witnessed in the last financial year. About 40% of these inflows have gone in the real estate sector, the RBI has said. Rohit Gera, vice-president of Credai Pune Metro and director of Gera Development, said, "Properties are cheaper than they were a year ago in terms of dollars. We have already seen a spurt in inquiries from NRIs over the last seven to ten days." Ashutosh Limaye, head of research real estate investor services at realty advisory firm Jones Lang LaSalle India, said, "The Indian rupee has seen 12% depreciation against the US dollar since May 2013. This has led to a decrease in its value against all the other currencies pegged to the US dollar." Limaye added that according to a recent survey conducted by Sumansa Exhibitions, NRIs place a higher intrinsic value on property owned in India over the ones owned in other countries. While global investors such as foreign private equity (PE) investors are shying from investing in India and waiting for the rupee to stabilize, NRIs have been thinking otherwise, say realtors. "The depreciation of rupee has eroded the exceptional gains made by foreign PE funds in the last few months. Hence, short to medium term interests from several foreign PE funds may be subdued in view of the current economic performance," said Neeraj Bansal, partner at business consulting firm KPMG in India. "However, there is no shortage of funding for grade 'A' projects with promoters having strong track records. The fall in rupee is being cheered by NRIs who are now in a better position to invest in properties in India," he said. "As the rupee continues to fall, the IT/ITeS sector, which is among the largest occupier of commercial real estate (SEZs and office space) in India, is expected to witness a strong growth. This may result in increase in offtake of commercial office space," Bansal said. Anuj Bhandari, secretary, Credai Pune Metro, said around 20% more NRIs as compared to the last couple of years inquired about residential schemes. This may result in 7-8% increase in the purchases by NRIs, he added. Realty Interest: 20% rise in NRI inquiries for residential schemes Much interest in 'A' grade projects Trend more noticeable in commercial real estate Realtors say inquiries have picked up in the last 7 to 10 days 40% of total remittances are towards real estate, says RBI

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First of all I would like to thank  you  and the Gera team for organizing different workshops at our doorstep.
The best thing I have done to my kids is that I  took a right decision to buy a flat in Gera.
Because of this decision , Vishnu could attend  the development workshops that were conducted.
Vishnu was a shy child who didn't like to participate in any of the programmes.
As far as Dale Carnegie workshops is concerned   it  has given him a lot of confidence and was presenting things in a much better way and I can see a lot of improvement in him.In simple words u made a person(..

My son Tattva had been enrolled in the intermediate level and has been coached by the Vishwanathan Anand Chess Academy coach . Tattva has made remarkable strides and will be on his way to get his FIDE rating in November. A lot of credit goes to the mentor for his unique way of handling his students. He has been very patient while working with Tattva on his areas of improvement. In addition before the tournament the coach had voluntarily added additional classes and doubled his efforts to get a better performance out of Tattva. He has shown complete ownership which is commendable. I hope he continues to develop more and more chess players in the coming days.


It's a wonderful experience with the tennis academy and my daughter liked it. Also she is getting good training and love for the game.
The coaches are good and we would continue using their expertise for Nishita going onwards. We are also looking forward for signing (actually instrument) and dancing coaching too.


This is to share with you that both my little girls (Aditi Anisha) are really enjoying their Tennis classes at the Mahesh Bhupathi Tennis Academy.
I always find them very excited whenever there is TENNIS CLASS, and this excitement matters to both of us, as the kids seems to be interested.
It’s nice to see them constructively engaged, and coming home happy and having felt productive in their own child little way. It’s a great way for them to bond with other young ones and feel belonged to a larger community.
Thanks to You, Gera Developments and MBTA for giving our young ones, an opportunity for a wonderful learning experience.
Now they are looking forwar..

Regarding the workshops & different academy sessions, it has been wonderful experience so far for Shlok and we’re looking forward for the new opportunities.
It’s absolutely fantastic to have all these academies in the premises, and that too from the renowned personalities, so we can send kids without worrying about other factors like safety & all.
And most importantly, a big thanks to you for the lovely follow-ups & timely updates about the upcoming/ongoing sessions.