NRI Investments in Indian Real Estate Expected to Grow by 12%
Indian real Estate is going to experience a hike of 12% this year due to return of NRI investments in the realty market. Last year, the Indian realty market’s investment amounted around $13.1 billion and this year, according to the research reports by a property consultancy organization, it is expected grow by 12%.
Real Estate sector of India is reaping healthier returns and high rental values which is continuously proving its worth to be an attractive asset to the country’s economy. This market has grown exponentially grabbing the attention of both HNI’s and NRI’s for the investments. “NRI’s are specifically looking for a market that enjoys a sturdy socio-civic infrastructure and social fabric that caters to the modern needs of millennials”, said Akash Ohri, Group Executive Director and Chief Business Officer, DLF Developers Ltd.
Delhi NCR region, specifically Gurgaon has become the hub for corporate offices and therefore, influx of youth is coming to this city in bulk. With strong infrastructure including premium healthcare and educational institutions, luxurious corporate office and retail space, sturdy connectivity between key locations, loads of options for recreation and leisure activities, Gurgaon has become a preferred destination for NRI’s to target for healthy returns on their investments. Already being a commercial hub, NCR is now experiencing the surge in their residential sector. It is expected that in coming years, Gurgaon will become one of the premium cities offering the luxurious lifestyle and modern amenities to their residents and will lead in the residential sector. This makes the Gurgaon, NCR region a top investment destination for NRIs as they prefer to live the same lifestyle as they do in other countries.
Possible reasons behind this newfound interest of NRI’s in the Real Estate market of India may be because of the weakening of rupees as a currency and Pandemic that led to the one’s perception of owning a home in one’s home country and lower interest rates. Hence, this recent heed of NRI’s in Indian residential market for investment purposes as well as self-use is bolstering sales of luxury homes.
Krisumi Corporation, a joint venture between Sumitomo Corporation, Japan, and Krishna Group is developing Waterfall residences at sector 36A, Gurgaon which is the amalgamation of Japanese art and Indian aesthetics, providing an ultimate luxurious experience to its residents. “Projects like this catch the eye of NRI’s for investments. Their inclination is primarily for self-use only because of the fact that Delhi NCR has become a one-stop destination for business”, said Vivek Singha, CEO of Smart World Developers. Hence, the increase in flocking to this region is because of the numerous benefits this location provides to them like close proximity to IGI-Airport, Hub for corporate, Luxury living, Exponential growth etc.