JEDDAH, 1 May — The best option for the non-resident Indians (NRIs) is to invest in real estate rather than any other forms of investment like bank deposits and shares or mutual funds, said Basheeruddin Babu Khan, a Telugu Desam Party (TDP) member and former Andhra Pradesh minister.
Speaking during his visit to the computer center of Khak-e-Taiba Trust (KTT), here on Sunday night, he compared NRIs’ real estate investments with those setting up new business ventures back home while still being overseas, and said: “It’s not a wise decision for the overseas Indians to invest all his savings in a project back home and hand over his running business to a local individual as a managing partner.”
The NRIs should also take adequate measures to protect their real estate investments from encroachments. He said the quota of NRI seats in professional colleges had been increased from five to 10 percent and NRI children should be ready to face competition back home for their further education and prospects instead of depending on management seat quotas and donation seats. The trust’s General Secretary Saidat Ali Khan introduced Babu Khan to the gathering and echoed the desire of the Khak-e-Taiba Trust’s President Shameem Kausar to start a college in Hyderabad for BCA and MCA courses in computer education. Treasurer of the trust, Sadiq Ali, proposed a vote of thanks.