In any big project, a quarter share belongs to them.
Non-resident Indians (NRIs) are the backbone of India’s real estate sector. They account for a quarter of the total sales of projects undertaken by large developers. Before COVID, it was between 7 and 10 percent; now it has increased to 25 percent. As a result, the demand for houses in the seven major cities of the country is increasing, and the prices are also increasing accordingly. The US, Singapore, UAE, Australia, and Saudi Arabia are big markets for NRIs. Recently, the investments of NRIs have also increased in India.
NRIs accounted for 25 percent of the sales of the country’s largest developer, DLF’s Privana project in Gurugram. Its value will be around Rs. 1800 crore. In total, in 2023–24, Rs 3400 crore in sales related to DLF came from NRIs. It is noteworthy that this is almost 20 percent of DLF’s total sales value. Statistics show that nearly 10 percent of the investments in the Indian real estate market in the financial year 2019-20 were from NRIs. It is expected to increase further in the future. Especially NRIs staying in Dubai, Abu Dhabi, London, Singapore, Hong Kong, and the US are coming to invest in India. Experts say that they play a key role in our real estate sector, with a share of about 20 percent.
A recent study has shown that more NRIs are planning to invest in the luxury real estate sector of our country in the next two years. It revealed that they feel that this is an ideal time to invest in large properties in the country.
