Dubai’s realty hot mkt for South Indian expats
Tax-free regime, world-class amenities, high value appreciation, investor-friendly climate and golden visa attract many from AP, TS, TN
image for illustrative purpose
Dubai calling
- Average rental income 6-8%
- Appreciation value around 20%
- Studio with open kitchen costs Rs 2.7cr
- 2 BHK furnished apartment priced at Rs 4cr
Visakhapatnam: With Dubai’s thriving real estate market offering a wide variety of properties for investment by the Indians, Dubai Homes, an Indian company which partnered with Enrich Castle Real Estates, organised a roadshow in Visakhapatnam for the first time on Sunday.
The event showcased how buying apartments, condos and town halls, villas offers them higher returns compared to investment in their motherland.
Stating that the daylong roadshow, the sixth they have held till date across India, has evoked an encouraging response with several investors paying the initial amount for booking, Manoj Addanki, CEO of Dubai Homes, told Bizz Buzz on Monday that they showcased the immense potential for high returns in Danube Properties in Dubai where 91 per cent population out of 55 lakh are expats.
Tax-free regime, world-class amenities, over 40 amenities, high value appreciation, investor-friendly climate and the opportunity to acquire a golden visa for two million Emirati Dirham (AED), attract many to Dubai.
Half of the expat population is from South India, he said, underlining the scope for high investment potential from the Southern States like Andhra Pradesh, Telangana and Tamil Nadu.
Manoj said in India the average rental income is 2.5 per cent whereas in Dubai it is around six to eight per cent. The appreciation is also expected to be around 20 per cent. He said in Danube Properties, town halls, villas are offered with full-furnishing. While a studio with open kitchen is available for Rs 2.7 crore, two BHK fully furnished apartment is up for grabs for nearly Rs 4 crore.
Aruna, Director of Dubai Homes, said semi-furnished villas are available for about Rs 4.5 crore. She said the initial down payment is 20 per cent plus four per cent payment of total value towards Dubai Land Development Charges. The interested buyers after initial payment need to pay one per cent of total value as EMI every month with five per cent as bullet payment at a specified time till the construction is completed by 2026.
With more than 40 amenities, the 430 houses in each category are available for grabs. The firm is offering investment opportunity for Fashionz (presidential suite with a carpet area of 847 sft for Rs 3.28 crore, Elite-3 bedroom plus pool (1,279 sft) for Rs 4.50 crore, studio for Rs 1.58 crore, Oceanz-3: Studio (429 sft) for Rs 3.05 crore, presidential suite (760 sft) for Rs 4.5 crore to Rs 4.9 crore, 2 bedroom (1,197 to 1,440 sft) for Rs 6.56 crore to Rs 7.88 crore and 3 bedroom (1,897 sft) Rs 9.28 crore to Rs 10.12 crore.
