NRIs have started returning to invest in Indian real estate as NRI investments in Indian real estate amounted to $13.1 billion last year and it is expected to grow by 12% this year, according to a report by 360 Realtors.
“The real estate sector has proven to be an attractive asset class with healthier relative returns, it has gained the attention of both locals and NRIs alike. The NRI buyers today look for a well-connected living ecosystem curated with numerous choices to live, work, and play luxuriously,” said Aakash Ohri, Group Executive Director and Chief Business Officer, DLF Home Developers Ltd.
Gurugram, with some of the most exclusive commercial and residential real estate, over the years has attracted NRIs and has emerged as a real estate investment hub in the past two decades.
With a strong infrastructure and social fabric, representing some of the best international schools, hospitals, financial institutions, and retail spaces, in and around, it has become a preferred destination for NRIs and expats.
NCR is already a hub for IT, BPO, and the corporate sector. Now with residential sales surging, Gurgaon is catching up with top cities in terms of service standards and luxurious amenities.
The availability of super luxury, premium, and luxury projects across all categories makes NCR a top investment destination for NRIs as they prefer to live the same lifestyle as they do in other countries.
“Residential Real Estate has always been the preferred asset class for non-resident Indians. The last few months have witnessed a gradual comeback of the NRI to the realty market, bolstering sales of luxury homes. The inclination is now primarily for self-use. The remarkable uptick on queries and closures from NRI’s can be attributed to weakening rupees, pandemic induced perception of owning a home in one’s home country and lower interest rates,” said Mohit Jain, Managing Director, Krisumi Corporation.
Krisumi Corporation a JV between Sumitomo Corporation, Japan, and Krishna Group is developing Waterfall Residences located at sector 36A, Gurgaon. The project represents the confluence of Japanese art and architecture with Indian aesthetics which has been a favorite among BRI’s and expat community.
NRIs are actively investing in NCR so to maximize returns and even for self-occupancy.
“Due to the rapid growth of residential projects in the NCR, as well as its fast-paced life, NRI investors are increasingly flocking to the region. In addition, Delhi NCR is a one-stop destination for business, so owning a home in the region has many benefits for NRIs,” said Vivek Singhla, CEO, Smartworld Developers.
Gurgaon has always been the preferred investment destination in North. Proximity to Indira Gandhi International Airport, quality infrastructure, strategic connectivity and the cosmopolitan culture has made Gurgaon a realty hotspot over the past few years. It is also a prominent commercial and business hub and home to several Fortune 500 global companies.
Source : ET