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Services for Non Resident Indians (NRI) from Australia

Indian Population in Australia:
As per 2011 Australian Population census, there were 390894 people with Indian ancestry. However, approximately 295362 people of Indian origin were actually born in India and migrated to Australia. In 2011-12, Indians were the largest migrating group to Australia at 15.7% of all migration to Australia in 2011-12.

State of Victoria has largest Indian community followed by New South Wales and then Queensland. Approximately 111787 people of Indian origin are in Victoria, 95387 in New South Wales, and 30259 in Queensland.

Indian community in Australia has formed various Indian Associations in states such as New South Wales, Victoria, Queensland, Western Australia, South Australia, Tasmania, etc.

Indian community in Australia has increased significantly since 2004. It is now the second largest non-European community in Australia after Chinese born Australians.

Property Management Services for Indian Diaspora living in Australia

Australian economy is primarily based on services (80.1% of GDP), followed by mining sector (7.6% of GDP), manufacturing (11% of GDP). Indians in Australia migrate to study management, science, and engineering and after completion of studies they take up employment in financial services, manufacturing, mining, and engineering sectors. At the same time, many software professionals from India go to Australia to work in Information Technology field on short term as well on long term basis. Various Indian entrepreneurs have also set up businesses and franchises in Australia.

Remittances by Indian Diaspora:
In 2013, Non resident Indians (NRI), Person of Indian Origin (PIO) remitted approximately 1.25 billion US$ from Australia to India. The total remittances by Indian Diaspora spread across the world during this period were 70 Billion US$.

The remittances by Indian Diaspora in Australia were invested in various asset classes including real estate. At the same time, remittances were used to support the households in India. By investing in property, an NRI or PIO not only develops a close connection with India but also provides a source of Income to his/her family in India by way of rental income.

Relations between India and Australia:
India Australia relations date back to 1800 when as part of the British Empire some Indians arrived in Australia. However, real movement of people started post 1966. Many qualified doctors, teachers moved to Australia in 1960s and 70s. Thereafter, in 1980s software professionals started to migrate to Australia.

India Australia trade relations have deepened in 21st century. In financial year 2013-14, the bilateral trade (goods and services) between the 2 countries was 13.37 billion US$. India’s exports during the same year were 3.9 billion US$, while Australia’s exports to India were 9.47 billion US$.

India mainly exported Refined Petroleum and Jewelry, Medicaments (including veterinary), Passenger Motor Vehicles, Pearls & gems, technical services such as software products. Australia exported Copper ores & concentrates, coal, vegetables, gold, wool & other animal hair, education services.

Source: High commission of India in Australia

Property Management Services for Indian Diaspora living in Australia:
Majority of Indians in Australia continue to maintain strong connection with India. Some of them still have families in India and visit quite often. Some of them maintain professional contacts by investing in businesses, joint ventures, real estate, etc.

Real estate investment in cities such as Bangalore, Mumbai, Gurgaon, Noida, Delhi, Chennai, Hyderabad, Kochi, Kolkata, Pune, Ghaziabad, Faridabad, Ahmedabad, Chandigarh, Jaipur has fetched substantial returns to NRIs in form of capital appreciation. However, one can further enhance rate of returns by renting their properties.

However, managing these properties is extremely difficult for Non Resident Indians (NRI) since they are living far away in Australia or other countries. And it is improbable to visit and keep an eye on the property 3-4 times a year. Further, protecting the property from encroachers is extremely important. And therefore, hiring the services of a Property Management company can provide much relief to NRIs and PIOs.

Managed Homz provides property management services to Indian Diaspora living across the globe. One can simply list the property with us and our team of Property Managers inspects, and subsequently handles the property on a monthly basis. One can read about full set of Property Management Services here.

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