NRI real estate investment is gaining new momentum in India in the aftermath of economic reforms being made in the country. Non-Residentially Indians already represent a major stake in the market due to their heavy cash inflow in Indian real estate markets.
A recent report stated that the real estate returns across 8 major cities of India have been encouraging and about $11.5 billion of capital is expected to be invested in the subcontinent by the NRIs.
This can be attributed to many reasons. Some of them being NRI interest in their motherland and hopes of settling back to it as they retire, or gaining rental income from pre-existing properties. Other reasons include fully functional business opportunities in India as the dollar to rupee conversion opens up investment windows for NRIs.
The Rupee Push
The recent turnarounds in the international currency exchange have proven out to be beneficial for NRIs. Rupee rates plummeted below record levels in the past few decades by crossing the 71 INR per dollar price.
Although it was bad news for other markets of the trade in the country, it meant that the same number of dollars abroad could buy more in India.
No better opportunity for prospecting NRIs who are already interested in investing. They were offered a major push towards this timely moneymaking chance.
Spacio Realtor’s NRI investment advisory and brokerage desk have been actively monitoring all the latest requests. If you’re an NRI who wants to grab this short-lived chance of making additional income on the sidelines, you can contact us.
The Best Places to Invest In India for NRIs
NRI investment in India is usually marked by high-magnitude of capital and premium sector properties. Most of NRI investments go well beyond crores of rupees and focus the top tier cities, where the property turnover is significantly high.
Therefore, for successful investments offering high ROI, we have shortlisted a few places in India that are worth your attention.
Mumbai continues to be at the apex of the real estate market in India. It is bustling with new developer projects and all sorts of luxury apartments that capture buyer interest from the top investors.
Refer to Spacio’s Mumbai Location Analysis for detailed information.
The most noticeable trend in Mumbai has been the hike in sales of apartments units that went up considerably high in past two years.
Carpet area prices in South Mumbai range between 60k to 125k for luxury flats going well beyond 3.44 crores per apartment. While, in the suburbs, the property rates fluctuate between 7k to 20k.
Furthermore, the sales of flats in Mumbai are being aided by the inception of RERA in the country that is now strengthening buyer interest in real estate again.
One important statistic that came forward due to this was the rise in affordable housing segment. More buyers are opting for affordable housing due to the on-going financial crunch in the country and it is being aided by everyone including bank house loans, government subsidies and new projects offering more-in-less.
The movement of the workforce into Mumbai in response to new job opportunities is a constant trend. The peripheral areas such as Thane, Naigaon, and others continue to get populated with newer townships each passing year, creating areas for investment.
Where in Mumbai?
Bengaluru or Bangalore is India’s unthroned IT capital with offices of various international IT giants and the biggest IT job sector in the country. With a population of over 10 million, the city has some of the finest properties to look for in India.
Unlike other metropolitans, Bangalore has an aesthetically planned architecture that boasts beautiful botanical gardens, commercial places, and residential colonies.
Bangalore is being seen as the most preferred destination for the startup generation and they have contributed towards the cities real estate growth significantly.
According to Hindu Business Line, Bangalore outnumbered Hyderabad in apartment sales and grossed close to 11,500 units in Q1 2018, which is nearly thrice the sales reported in Hyderabad.
A cumulation of factors ranging from rising IT jobs in the city and the ever-growing outsourcing industry in Bangalore has prompted the sales in Bangalore, which only stand second to sales in Mumbai.
Where in Bangalore?
Pune is a growing city in the state of Maharashtra of India that has seen a ton load of growth in the recent years. It’s spreading across various suburbs and villages, fueling in more real estate and opportunities for the buyers.
Pune has become the hub for a number of industries such as the automobile, Information Technology, and education. This is resulting in a surge of buyer demand in accommodation units in Pune.
The city’s traffic has been a constant problem for the residents and the upcoming airport project is eyeing to resolve this problem. With this new development, the rise in real estate in neighbouring areas would be eventual.
Experts look at Pune as the market of tomorrow considering how fast it is growing and the vast amount of investment opportunities it has for NRIs. Right now, it is being counted as the rising-metropolitan of India and once it gets there, the people who would have invested in it will be all rich.
Where in Pune?
Goa is a state in the west coast of India that enjoys beautiful sea views and heavy Portuguese influence, making it one of the most popular tourist attractions in India.
Unlike other metropolitans in India, Goa is calmer, more relaxed and less congested (at least in the offseason). It is marked by colonial houses, villas, beach homes and a lot of restaurants.
The ministry of Goa is taking special steps to develop the IT scene of Goa by introducing startup incubation centres and making it easier for newer small businesses in the state to set shop here.
This will bring in more employment, workers and ultimately, more real estate development in the state.
Due to its aesthetics and smooth paced life, Goa has received heavy interest from NRIs in past few years. For the families who wish to settle down in India in the next decade are eyeing Goa as their preferred home because of the large variety of beautiful homes it houses.
Where in Goa?