The number of NRI investments in the real estate market has increased, which has broadened the consumer base for developers and encouraged them to upgrade their projects to keep up with rising living standards around the world. According to Anurag Goel, Director of Goel Ganga Developments, corporate culture is evolving and expanding. Scalable high-paying career prospects are growing, and the number of colleges and universities catering to multinational corporations is rising.
According to him, the growth of these interconnected variables has significantly boosted NRI’s interest in making investments and perhaps relocating to India.
NRIs have mainly 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 highly significant attention of NRIs has benefited considerably from the well-connected habitat and recent and ongoing infrastructure growth.
“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.
Immovable property is valued as an investment in India.