Indian real estate has been the talking point globally because of multiple reasons. The strong comeback of the realty sector despite fluctuating inflation and economic instability has lured foreign investors. Apart from all these, the inventory of luxury homes in India is also making NRI invest in the country.
When we say foreign investors, it is mainly about the Non-resident Indians (NRI). The Indian diaspora feels like the depreciating value of the Indian rupee is an opportunity for them to invest back home.
The recent report by NAREDCO (National Real Estate Development Council) and KPMG India assesses that Indian real estate is moving intensely when real estate industries across the globe are struggling to up a hold. The strong growth of the property market in India is likely to contribute 13% to the country’s GDP. In the fiscal year 20-21, Indian realty stood at $200 billion and will reach $1 trillion by FY25 approximately.
Another purpose behind the growth of the property market in the country is the demand for luxury residential property. The NRIs and HNIs (High Net Worth) Indians living abroad prefer to own property back home. Interestingly, the latest technology is proving beneficial in the modeling of abodes. The comeback home sentiment among NRIs and HNIs is taking the luxury housing segment in India by storm. The developing infrastructure and homes matching international standards lead to high rental values.
That’s the reason why NRIs are keen to invest in India.
Why Foreign Investors Lure to Invest in Indian Real Estate
World-Class Specifications
Evolution is the part and process of life. Interestingly, developers in India also welcomed the changing perspective of residential properties. With homebuyers wish to have capacious living spaces amid secured living atmosphere, the technological support made this possible.
Now the gated communities with round-the-clock patrolling and digital security display beef up the security. In the current times, people wish to accumulate several amenities at one place. Hence, developers are introducing townships that embrace specifications like fitness arena, play area, meditation zone and garden. The amenities encapsulating wellness space, leisure zone, sports activity areas, etc. create an urban living standard. Thus, NRIs can yield high rentals as professionals in India move to major cities for the job prospect.
Holiday Homes – Indian Real Estate
Call it a second home, a vacation home, or a holiday home! For many people, mainly the NRIs, an investment in immovable assets means a dedicated destination to relax.
However, the definition of a second home is just a few years old. Also, the pandemic made people realize family’s importance. Thus, owning a residential property close to loved ones makes them feel emotionally safe.
Conclusion
The rise of technological development led to the conceptualization of abodes with ample space and amenities in prime locations of Indian cities. The NRIs and HNIs are lured to property investment in India as homes are redefined with one living address with multiple amenities to enjoy.
These are the reasons why foreign investors primarily show a vested interest in property purchases back home.
