NRIs Flock to Indian Real Estate Market
After nearly four decades or more abroad, numerous Non-Resident Indians (NRIs) are part of a reverse migration trend, channeling investments into Indian properties. This shift is driven by the desire for retirement or semi-retirement homes that can also serve as a connection point for their children and grandchildren with their Indian heritage. Additionally, these properties are recognized as prudent investment opportunities.
Growing Interest Across NRI Demographics
Both older NRIs seeking tranquil post-professional life settings and younger, recently migrated professionals from India are exhibiting increased interest in Indian real estate. This heightened attention aligns with developers and financiers strategically catering to NRIs with an array of modern housing options, arguably at the most opportune time.
Facilitators of NRI Investments
Ease of Financing: Arijit Sanyal of HDFC highlighted, “The interest has always been there. I just think that now we are able to serve that interest. Because provision of finance is easier, the developers are willing to come, they are better able to exhibit their properties to the NRI community.”
Global Market Recognition: This burgeoning interest is also attracting wider attention from the London market, including property developers and financiers. Andrew Fassnidge, Managing Director of Navyroof.com, noted, “Currently, there are huge potential investments. If we look at investment banks, Merrill Lynch has increased 7%,” underscoring the lucrative nature of these investments.