NRIs' Top Priority: Investing in Indian Real Estate for a Secure Future
Post-Covid, NRIs are turning to Indian real estate for a variety of reasons — from upgrading family homes to long-term investments. Real estate is viewed as a safer bet compared to the volatile stock markets.
NriIndian Real EstateInvestmentLuxury HomesEconomic GrowthReal EstateSep 25, 2024
Whether it’s securing a future home, ensuring family safety, or capitalizing on India’s booming real estate market, buying a house in India is now high on the to-do list for NRIs.
Recently, a leading property developer in Gurgaon sold 1,100 luxury apartments in just three days, with 250 of these purchased by NRIs. This is just one example of a broader trend. NRIs, who have always maintained an emotional connection to their homeland, are increasingly turning to Indian real estate for a variety of reasons — from upgrading family homes to long-term investments.
Amit Goyal, CEO of India Sotheby’s International Realty, explained that NRIs now make up about 15% of sales in new residential projects by top developers. “There’s been a clear rise in interest from NRIs post-pandemic. Many are consolidating their real estate portfolios by selling older properties and switching to newer, more secure, and well-managed homes,” Goyal said.
For NRIs, the decision to buy property in India is often driven by a mix of emotional and practical concerns. Many are investing in homes with the goal of securing a better living environment for their families. Others view it as a long-term investment as India’s economic growth continues to outpace many global markets.
“The NRI buyer today is not just looking for an investment; they see property as a tangible connection to their roots,” Goyal added. Real estate, he noted, is also viewed as a safer bet compared to the volatile stock markets.
Demand for premium and luxury housing has surged across Indian cities, with NRIs driving a significant portion of this growth. DLF Home Developers Ltd’s joint managing director, Aakash Ohri, told that 25% of their sales now come from NRIs.
In Bengaluru, tech professionals settled abroad are leading the demand for high-end properties. A recent luxury villa project by Prestige Group saw a large number of villas, priced between Rs 7 crore and Rs 11 crore, sold to NRIs in just six months.
Hyderabad is another hot spot for NRI investments, especially among tech entrepreneurs and professionals in the US. Though there has been a temporary slowdown due to uncertainties in the tech sector, NRIs with roots in Hyderabad continue to invest in high-end properties, with average ticket sizes ranging from Rs 3 crore to Rs 5 crore.
Mumbai is another key market, especially in neighborhoods like Powai, Thane, and Panvel. Niranjan Hiranandani, chairman of the Hiranandani Group, pointed out that NRI homebuyers now account for 22% of their total sales.
For many NRIs, investing in property in India is not just about financial security — it’s about creating a home for the future. A group of NRIs based in the UK and Europe, speaking anonymously, shared their concerns about the growing challenges in their adopted countries.
As India’s economy continues to grow, many NRIs, particularly those in their 30s and 40s, are looking to the country for future opportunities. Whether it’s returning home to be closer to family or simply capitalizing on the strong real estate market, the demand for Indian properties is expected to remain strong.
For NRIs, buying a house in India is no longer just about staying connected to their roots. It’s about securing a stable, safe, and promising investment for the future.
Frequently Asked Questions
Why are NRIs investing in Indian real estate?
NRIs are investing in Indian real estate for a variety of reasons, including securing a future home, ensuring family safety, and capitalizing on India’s booming real estate market.
What percentage of sales in new residential projects by top developers come from NRIs?
According to Amit Goyal, CEO of India Sotheby’s International Realty, NRIs now make up about 15% of sales in new residential projects by top developers.
Which cities are seeing high demand for premium and luxury housing from NRIs?
Bengaluru, Hyderabad, and Mumbai are seeing high demand for premium and luxury housing from NRIs.
Why do NRIs view real estate as a safer bet compared to the stock market?
NRIs view real estate as a safer bet compared to the stock market because it provides a tangible connection to their roots and is seen as a more stable investment.
What is the average ticket size for NRI investments in Hyderabad?
The average ticket size for NRI investments in Hyderabad ranges from Rs 3 crore to Rs 5 crore.
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