Rupee fall lures NRI investment to Bangalore

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A sharp fall in the rupee has prompted developers target NRIs in the residential real estate market in Bangalore. To make the offering attractive, developers plan to provide extremely customized high-end options for end-users.

“A flat domestic market and steep fall in the rupee are two factors that are likely to get the NRI population to invest in India now,” said a prominent developer in Bangalore. “Our approach is to provide them with an Indian version of home styles they are used to in the country they are currently residing in, in keeping with the personality of the family as a group.”

Private swimming pools, children’s play area and activity centers are no more enough. Builders are hiring makeover and color profiling experts to provide greater degree of customization to the high-end segment.

Companies plan to develop villas that are painted in colors as per the personality of the lady of the house or the family as a group.

“While architects can provide a Mediterranean or Spanish villa based on construction, buyers also want a little Indianization of the finished product. This is where the developers would like to leverage the expertise of makeover and color profiling professionals like me,” said Manjula Jaikanthan, who offers makeovers and colour profiling services to high net worth individuals (HNIs).

There is a distinct difference in the requirements of NRIs from the US and those from Europe. NRIs from Europe prefer warm and natural colors of red, brown, yellow and greens for a Mediterranean feel. While NRIs from the US prefer bright yellows and oranges on the interiors and pastel colours on the outside to catch sunlight while deflecting away much of the summer heat. Additionally, Indians like to include the dull brown and beige colours to Indianize it a bit. All these have to be incorporated keeping in mind the personality of the buyer and his family.

And this is where professional makeover and color profiling experts are roped in.
“For a typical Italian kitchen, the NRI from Southern Europe might like a pattern of stripes on the lower half of the wall, with a waist-high border of framed diamonds or leaves. At the same time they also may want to include the earthen colors of India. A finished product needs to be developed that is in keeping with expectations and their personality. And this is where my strength in developing personality specific color schemes comes in,” states Jaikanthan.

“As home painting is a minimum two year investment and often clients have only a broad idea of how the finished product will look, it is essential to read what they will really want and be comfortable with and suggest accordingly,” continues Jaikanthan. “And this includes even the flowers in the garden, the shades of green in hedges and the color of the garden chairs.”

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