Because of the rupee continues to fight a losing battle against the greenbuck, realty-sector is bucking up on a new trend.

Indians living overseas are now looking back home for some moneymaking gains as the currency market throws up good investment options. 28-year old Kabir Batra is living the great Indian dream in America, a secure job at Siemens, sufficient savings and now it is time for making future investing. And during his holiday trip to Delhi he spotted the right chance in Dwarka.

“I wanted to make a good investment in reality sector but last year I didn’t have enough funds, and this time it is a blessing in disguise as because of depreciating rupee, I am getting deals which are 20 per cent cheaper from last year,” said Kabeer Batra, a NRI.

And as the rupee continues to fight a losing battle against the greenbuck, realty sector is bucking up on a new trend.

“The main demand is coming from Dubai and interestingly new markets like South Africa are also witnessing a new change. Of course traditional markets like US and UK continue to generate demand front the NRI community,” said Anuj Puri, chairman of JLL.

Given that the rupee dollar price equality has resulted in at least 20-25 per cent discount on the project, developers are willing to extend further discount of 10-15 per cent to boost their sales. Many are participating in abroad road shows and have their bets on rupee-weakening further.

“We are looking at Dubai road show to get more sales from the NRI community which is abruptly in action owing to weakening rupee,” said Bandish Ajmera, chairman property exhibition at MCHI.

And while investors like Kabir continue to look for future investments here there is no-denying that for these developers weakening rupee is actually a gaining-strength.

Needs to realise roughly Rs 3,000 crore to keep to debt decrease target for current financial year.

India’s largest developer by market capitalization, DLF Ltd, is banking on at least two to three big ticket sales in early 2012, to stay to its debt reduction target for the current financial year. The developer needs to realise Rs 3,000 crore to Rs 3,500 crore from noncore asset sales, to attain its 2011-12 goals.

Although the company is still far from the divestment figure it had set, Rajeev Talwar, executive director sounded sure about making it on time. He told Business Standard the developer was expecting a couple of big ticket sales before the current financial year closes.

Besides the much talked Aman-Resorts deal, DLF is looking at a transaction to offload stake in its Pune IT Special Economic Zone (SEZ), sometime early next calendar year, Talwar said. Another deal to sell stake in the Noida IT-SEZ is also in the offing. According to analysts, these three deals could fetch DLF Rs 3,300 crore.

“The Aman hotel sale is only at arm’s-length, but would not conclude this calendar-year. Early next year looks more likely,” said Talwar. The stake sale in Aman will exclude the Delhi hotel (earlier named Lodhi). Analysts said the Aman Resorts sale could be a projected Rs 2,000 crore deal. The Pune-SEZ deal could be worth Rs 900 crore and the stake sale in Noida SEZ could fetch the company between Rs 400 crore and Rs 450 crore.

The company may seem at selling the un-built land of DLF Hotels and Hospitality Ltd (DHHL), again as part of its noncore divestment strategy. “We will try to get the maximum valuation of the sale,” he said.

Earlier this week, DLF acquired an additional 26 per cent stake in its joint venture DLF Hotel Holdings Ltd (DHHL), from Aro Participation Ltd and Splendid Property Company, affiliates of Hilton International, for Rs 120 crore. The joint venture has one Hilton hotel, in Delhi.

Another divestment DLF has initiated is in Galaxy-Mercantile, a JV between DLF Home Developers Ltd and Infrastructure Development Finance Company. Four days ago, DLF announced signing an agreement to divest its entire stake in Galaxy-Mercantile. Galaxy will buy the entire DLF stake in the project for Rs 450 crore over the next 12 to 18 months. DLF has already received the first share of Rs 200 crore from this deal. The balance payment has been linked to various leasing milestones.

As for the SEZ-projects in Pune and Noida, DLF holds 70 per cent in both. The Pune SEZ is a joint venture with Ackruti City. According to Talwar, the company is in talks with Indian and foreign companies to sell its stake in the Pune SEZ. The industry buzz is that international private equity Major Blackstone will buy into DLF’s Pune SEZ. The Noida SEZ asset is a JV with another real estate company, 3C.

In the case of Aman hotels, DLF has got the final-bids from four or five companies. Khazanah, Malaysian government’s wealth fund, is being seen as the most possible buyer. Other prominent bidders include Kingdom Holdings, the company which owns the Four Seasons Hotel, and a Chinese hospitality group, it is learnt.

DLF’s net debt stood at Rs 22,519 crore as the half end of September. It aims to bring down debt to Rs 19,000 crore to Rs 19,500 crore by the end of this financial year, and to Rs 10,000 crore by 2013, through sale of noncore assets.