The real estate market has achieved remarkable progress during the past 10 years. The role of the NRIs is significant in the progress. Because of the hybrid work culture, many NRIs are keen to build a home in India. Their desire to lead life with high standards in one’s country is propelling them forward to make investments in India. If the NRIs buy homes in India, they will make their investments domestically. It would give the much-needed support to the nation’s economy.
The overseas investors constitute a very important resource of funds. Currently, the conditions favour the NRIs to make investments in realty sector to derive benefits from rapidly expanding real estate sector. Because of the global economic consequences, Indian rupee is experience turbulence. The NRIs feel like achieving financial security by making investments in realty sector. This line of thinking has pushed the demand for homes in property market in India.
When the rupee falls, the NRIs, especially those who live in countries whose currency is stronger, benefit a lot. Out of all investment opportunities, the NRIs give priority to have their second home. The trend of owning week-end homes is continuing. Moreover, the NRIs consider investing in Indian real estate as a profitable opportunity. It would improve their income and also help diversity their investment portfolio.
Those who live in the USA, Canada, Middle East, Europe and Asian nations are inclining to invest in cities like Gurgaon, Bangalore and Hyderabad. They prefer to acquire property in Tier-2 towns and cities besides their native place. In the wake of the Covid-19, familial bonds grew stronger. The people give priority to live in native place with parents and grandparents. The series of measures initiated by the government has been helpful in hastening up the property acquisition for the NRIs.
Availability of diversified properties in India and facility to inspect the property virtually sitting in a remote corner of the world are some of the factors that promote NRI investments in real estate sector. Many NRIs give weightage to investments in real estate sector, compared to investing in shares and gold because they feel investing in realty is safer.
The RERA Act implementation has induced transparency, making the NRIs feel investments in Indian reality are secure. Strong economy of the nation and remedial measures initiated to safeguard the economy in the light of global recession are attracting investments from NRIs in realty sector.
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