Non-resident Indians (NRIs) from Mysore have taken the advantage of the fluctuating value of the rupee against the dollar to invest in real estate and constructed assets. Banks in Mysore say that only 10 per cent of their customers are NRIs and they hold 10-12 per cent of the total funds deposited in the banks.
Inflow of funds have increased from NRIs in the past few months, say banks and confirmed that most of the NRIs are actively investing in real estate. In Karnataka, Bangalore and Mangalore have highest NRIs. Whereas in Mysore most of the NRIs are from Middle East countries and the US. Most of them are techies.
Some NRIs have also opted other areas like Hassan to invest, considering their fast development in the near future.