If the NRI wants to buy property in India, it will make a dent in his cash flow, as he will have to transfer many more dollars for the same property price. He would have been better off if he had bought his property in India five years ago when the prices were not so astronomical and the dollar was at a peak versus the rupee.
But in the present state of affairs when the Indian Real Estate market is showing little down-ward trend due to increase in interest rates of home loans, the NRIs have equal opportunity to buy property in India to offset the higher cash flow of their dollars. In other words we may say that weakness of dollar has been compensated by the present fall in property prices and hence to buy property in India for NRIs stands neutralized.
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