NRIs, particularly who are in the US, have a great opportunity to buy homes in India. It has all happened in the wake of rupee’s devaluation against the US dollar in the last few quarters. On the last April, 2011 Rupee was trading at $44.17 whereas in the month of December, 2012 the exchange rate stood at $54.54 which is very much high.
This makes it a lot cheaper to buy a home in India for NRIs. Have a look at this simple table below:
April, 2011 Dec, 2012
Cost of a Home (INR) 50 lakhs 50 lakhs
Exchange Rate 44.17 54.54
Cost in USD 113199.00 91675.83

 It is the right time to benefit from the rupee devaluation and invest in a property back home.
Equation t1 Appreciating of Dollar vs. Rupee Value
Where to Invest?
Hyderabad is surely one of the best places to invest in India right now. There are multiple reasons for the same:
  The realty prices in Hyderabad still remain much lower than other metros.
  The housing demand is exceeding supply and realty rates are only going to go up.
  Hyderabad is slated for a realty boom riding on the back of mega projects coming up in the Gachibowli to Shamshabad growth corridor. Huge investments,      both by private and public, have been already committed.
  The rail/road infrastructure is getting ready for the development which is going to follow in the next few years. The work on the Outer Ring Road (ORR) is       in full swing. Parts of the ORR have already become operational.
The above diagram depicts a typical Business Cycle. As you can see right now economy has reached stage 7. Slowly we will move towards 8 and within a few months it will be in Stage 12 (Boom Again)
Think Beyond Brick & Walls
Don’t just invest in any property in Hyderabad. Think beyond brick and walls. Maximum appreciation in value depends on many factors:
   Strong Value Proposition
A property which is located strategically and also has a strong value proposition is likely to yield higher returns. Whether you choose to stay or invest, evaluate the property on these parameters.