Wealthy Indians buying properties in Dubai, London, NY for better prices

Anuj Puri, chairman of Anarock Property Consultants links wealthy Indians buying abroad to their purchasing power

It is open season for Affluent India seeking the priciest digs on earth. Mukesh Ambani, the country’s second-biggest billionaire, recently bought a villa in Dubai for $163 million (Rs 1,304 crore) in a record residential deal.

Ambani bought another property in Dubai for $80 million (Rs 640 crore) earlier this year, which is also among the year’s highest residential deals in that region.

He also bought a Rs 600 crore mansion in London last year.

Although not in the same scale and size, many wealthy Indians are buying properties abroad due to reasons ranging between lower prices and lower stamp