NRIs are showing amazing propensity to purchase properties in India in order to lease out independent houses which could be anything from plush bungalows to farmhouses to corporates or to serve as vacation homes for a fat rent. Instances of owners in premier getting their houses designed to suit the tastes of high profile tenants abound. The known takers for the fancy new apartments coming up all around the premier cities are those who wish to make an investment.

Another new concept in area of investment property is Condo Hotels. A Condo Tel is a group of luxury condominiums that have units owned by individual owners for serving as a vacation home. Usually one entity manages it. A good management company with excellent track record has credibility for the services it provides and it is easy to capitalize on their management expertise.

The owners stay only for some part of the year as agreed with the operator. It works on the arrangement that after vacation when the owner moves back to his work life hen he has the choice of putting up his unit in a rental programme that the operator /developer of the complex runs. In this arrangement, the operator carries out the task of renting out the apartment to travelers and shares the revenues with the owner on terms agreed between them. The expenses of the owner also get settled without much effort.

Condo Hotels cater to those buyers who have the intention to buy a dream vacation home that affords them the opportunity to share rental income. Travelers on a vacation look forward to staying in a place that gives them the feeling of not being too far away from home. There are add-ons like fitness centers, spas and good housekeeping services. The vacation rentals ensure that there is a suitable return on the investment made. There is an added flexibility of selling the condominium whenever the owner sees a prospect in the appreciation of his property. The exercise will bring immediate cash inflows.

The business prospect further deepens when the operators can tie up with companies like RCI Global Vacation Network or get affiliated to luxury brands that provide holiday exchange programmes. It offers the owners destination alternatives such as the option of swapping their holiday plans in a certain destination with a holiday at an affiliated condo or a resort for a similar price across the globe.

Goa has tasted a lot of success with the rent back model. The beach houses due to their strategic positioning can boast of good rental and maintenance facilities. Adjoining the Fort Aguada Beach resort is Resicom Homes Pvt. Ltd. which sets up with the travel industry as well as their property management company to facilitate renting out property.

Service apartments, also a type of furnished apartment fulfilling the accommodation needs of individuals, corporate houses and multi national companies enjoy their status as a viable investment option. Offering quality living and contemporariness, its amenities are no less than that of a hotel and range from security, power backup to leisure activities and housekeeping services. A number of hi-tech facilities are available keeping the expectations of globetrotters in mind. It is conducive to people from a new culture and setting as it makes them feel at ease. Besides, rentals are more competitive and give a respite from the exorbitant hotel room rates.

Studio apartments in IT cities give a good option to buyers for rentals.

Egged on by attractive loan terms and strong investment culture due to a substantial disposable income, buying rental property in India for investment with an eye for future planning is a practice that is picking up fast. Chennai is a case in point. Going by the current trend, the preference for improved lifestyle that comes with modern facilities and a pleasant environment will only increase. At the same time the importance of having property that assures attractive rental returns have dawned on those wanting to invest in Indian real estate. This spells great hope for rental property in India.