NRIs Fuel Luxury Real Estate Boom in IndiA: A Promising Investment Opportunity
Non-resident Indians are driving the growth of India's real estate sector
Real EstateNrisLuxury HousingIndiaInvestment OpportunityReal EstateMay 29, 2024
Key markets such as the United States, Singapore, the UAE, Australia, and Saudi Arabia have been instrumental in driving this growth. Real estate developers have responded by creating dedicated teams to assist NRI buyers. For instance, DLF's recent project in Gurugram saw 25 per cent of its sales from NRIs, contributing to an overall NRI sales figure of ₹3,400 crore for the fiscal year 2023-2024.
Ravish Kapoor, Managing Director of Elan Group, emphasized the wealth of opportunities for NRI investors in Indian real estate. 'Indian real estate has always been a market brimming with opportunities for NRI investors. The surge in interest from High-Net-Worth Individuals (HNIs) and NRIs in luxury housing has significantly strengthened the market. Over the past few years, there's been a noticeable rise in the number of NRIs seeking to purchase homes in India, which has led to increased demand,' he noted.
A recent survey by India Sotheby's International Realty found that a growing number of high net-worth individuals (HNWIs), many of them NRIs, plan to purchase luxury real estate in India over the next two years. According to a report by NoBroker, NRI investments in India's real estate sector are expected to contribute 20% by 2025.
Delhi-NCR and Mumbai Metropolitan Region (MMR) remain the top choices for NRI investors, but other smaller cities are also experiencing increased demand due to their cosmopolitan lifestyles, world-class educational institutions, and thriving start-up ecosystems. NRI buyers typically seek properties priced above ₹1 crore, indicating a preference for high-value investments.
The Indian real estate sector has experienced a remarkable increase in foreign institutional inflows, driven by structural and policy reforms that have enhanced transparency and ease of doing business within the sector. Non-Resident Indians (NRIs) in the Gulf Cooperation Council (GCC) are increasingly optimistic about the Indian market, which has outperformed competitors in numerous countries, including developed ones.
Elan Group is a leading real estate developer in India, known for its luxury residential projects. Smartworld Developers is a prominent real estate developer in the Delhi-NCR region, offering high-end residential projects. Exp Realty India is a leading real estate consultancy firm, providing expert advice to NRI investors.
Frequently Asked Questions
What is driving the growth of NRI investments in Indian real estate? A: The depreciation of the rupee against the dollar emotional ties to the homeland and the availability of high-quality real estate in India are driving the growth of NRI investments Q: Which cities are attracting the most NRI investments in real estate? A: Delhi-NCR and Mumbai Metropolitan Region (MMR) are the top choices for NRI investors followed by other smaller cities such as Gurgaon and Bangalore Q: What is the expected contribution of NRI investments to India's real estate sector by 2025? A: According to a report by NoBroker NRI investments in India's real estate sector are expected to contribute 20% by 2025 Q: What is the typical price range for NRI investors in Indian real estate? A: NRI buyers typically seek properties priced above ₹1 crore indicating a preference for high-value investments Q: What is the appeal of Indian real estate to NRI investors? A: Indian real estate offers attractive rental yields long-term capital appreciation and a promise of sophisticated living environments making it an attractive investment opportunity for NRIs
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