NRI market for Indian properties becomes positive

Recent expert surveys indicate a remarkable growth in demand from non-resident Indians in the country's residential real estate.

- Kausar Firdausi

For non-resident Indian (NRI) investors, Indian real estate has always been a market with enormous opportunities. But post-pandemic there has been a keen interest from the NRI diaspora to invest in the country’s real estate like never before. The penchant to remain connected to their roots is one of the underlying factors which provides motivation to these NRIs. It is further fuelled by factors like appreciation of dollar against the rupee, better capital appreciation in property being witnessed in the country, great rental yields in both residential and commercial. Land reforms, regulations like RERA, the availability of comprehensive end-to-end online services, digitisation of land records have also made the entire buying process more streamlined and seamless.

According to a survey by NoBroker, a prominent prop-tech unicorn, there has been a 35% rise in the investment of NRIs in the country’s residential real estate market over the past few months. “Based on our analysis, we have witnessed that while 35% of NRIs are showing interest for investment purposes, a substantial 65% are opting to buy properties either for themselves or their parents,” says Amit Agarwal, CEO & co-founder, NoBroker.

NRIs are showing increased inclination towards 3BHK and 4BHK units for their spacious living experiences and versatility. Additionally, they prefer gated communities for investment for their enhanced security; and a host of amenities ranging from swimming pools, and well-equipped gyms to large parks, playrooms, centralized maintenance services, and green spaces for calm and peace.