BackRise in NRI investments promising indicator for real estate industry
NRIs have mostly shown interest in luxury homes and holiday properties in India
PremiumNRI investment in the real estate market has increased, which has expanded the consumer market pool for developers and encouraged them to level up their projects to meet global living standards. Anurag Goel, Director, Goel Ganga Developments said that corporate culture is evolving and expanding its origins. High-paying career opportunities are becoming more scalable, and the emergence of colleges and universities for multinational corporations is booming.
The expansion of these intertwined factors has all contributed to an increase in NRI interest in investing and possibly settling in India, he added.
NRIs have mostly shown interest in luxury homes and holiday properties in India.
“The NRI real estate investments came at a time when the Indian real estate market was slowing down. They have shown a strong interest in luxury homes and vacation properties, with the significant proportion of bookings occurring in those categories. It is also a promising indicator for the real estate industry, as it is consistently chosen as an appealing asset enticing greater and more favorable returns compared to any other investment," said Suren Goyal, Partner, RPS Group
The well-connected habitat, along with recent and ongoing infrastructure growth, have greatly helped the considerable attention of NRIs.
“Attempting to establish connections with the native land and a chance to experience a similar lifestyle, as well as exchanges with individuals who share a similar social and cultural fabric and identity, have all played a significant role in the phenomenal growth of NRIs in the real estate sector," said Ankit Aggarwal, MD, Devika Group.
Investment in immovable property is considered valuable in India.
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