Buyers from India purchased residential properties in the U.S. estimated at $5.8 billion in value during the one-year period ended March 2014, up 6 per cent over 2013.

On an average Indians invested $459,028 (Rs 2.81 crore) to buy properties across cities like Los Angeles, Las Vegas, Chicago, Dallas, and New York, according to a report of the U.S. National Association of Realtors published in October.

Anuj Puri, Chairman & Country Head, JLL India, in a statement said, “Indian HNIs who have obtained American citizenship and are settled there have several reasons for investing in properties in the U.S. Apart from India's long-standing love affair with America and all things American, many Indians who have become naturalised U.S. citizens have business interests as well as families in major American cities.”

Investment into the U.S. property market is once again favourable. After the steep post-Lehman downturn, countless investors had been able to snap up properties in American cities at unbelievably low prices, and these investments are seeing handsome returns now that the U.S. real estate market is reviving.

As for resident Indians, the Reserve Bank of India had earlier curtailed the flight of Indian money by capping outward remittances and rendering investment into foreign properties impossible. Recently, the annual investment ceiling for individuals to buy overseas property under the Liberalized Remittances Scheme was increased from $75,000 to $1,25,000.

This enhanced investment limit is a small but important window. For example, a married couple can now together buy a small property in a U.S. suburb if they have the inclination to do so. Previously, real estate as an option was entirely withdrawn from the LRS scheme and the limit purview.

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