NRI Investments in Indian Real Estate Expected to Grow by 12%
NRIs have started investing again in Indian real estate as NRI’s investments in Indian real estate amounted to US $ 13.1 billion last year and are expected to increase by 12% this year, according to a report from 360 Realtors.
“The Indian real estate sector has proven to be an attractive asset class with relatively healthier returns, attracting the attention of both locals and NRIs. Today’s NRI buyers are looking for a well – connected home ecosystem with many opportunities to live, work and play in luxury, ”said Aakash Ohri, Group Executive Director and Chief Business Officer, DLF Home Developers Ltd.
Home to some of the most exclusive commercial and residential real estate, Gurugram has attracted NRIs over the years and for the past two decades has been a hub for real estate investment.
With a strong infrastructure and social fabric representing some of the best international schools, hospitals, financial institutions and retail space in and around it, it is now a destination of choice for NRIs and expats.
NCR is already a hub for IT, BPO and the corporate sector. Now with sales of residential properties soaring, Gurgaon is catching up with the top cities in terms of service standards and luxurious amenities.
Due to the availability of premium luxury, premium and asset projects in all categories, the NCR is a prime investment destination for NRIs as they prefer to live the same lifestyle as other countries.
“Residential property has always been the preferred asset class for non-resident Indians. In recent months, the NRI has gradually returned to the property market, contributing to luxury home sales. The trend is now primarily for personal use. The significant spike in NRI investigations and closures can be attributed to the weakening rupees, perceptions of the pandemic of a homeowner in your own country and lower interest rates, “said Mohit Jain, Managing Director, said. Krisumi Corporation.
Krisumi Corporation, a joint venture between Sumitomo Corporation, Japan, and Krishna Group is developing Waterfall Residences at Sector 36A, Gurgaon. The project represents the confluence of Japanese art and architecture and popular Indian aesthetics by BRIs and the expat community.
NRIs actively invest in NCRs to maximize results and even for their own use.
“Due to the rapid growth of residential projects in the NCR as well as its rapid lifecycle, NRI investors are gradually moving to the region. In addition, Delhi NCR is a one-stop destination for businesses, so having a homeowner in the region has many benefits for NRIs, ”said Vivek Singhla, CEO, Smartworld Developers.
Gurgaon has always been the top investment destination in the North. Due to its proximity to Indira Gandhi International Airport, high quality infrastructure, strategic connections and cosmopolitan culture have made Gurgaon a southern location of real estate in recent years. It is also a major commercial and business center and houses several global Fortune 500 companies.