The real estate boom in India has created a new avenue for NRI investments. There is a growing number of houses being purchased by this segment. The growth in NRI residential sales, which rose significantly over the last year, underscores this point.

According to a report by NoBroker forecast report, NRI investments in India's real estate sector is poised to contribute 20% by 2025. This surge in demand can be attributed to several factors, both monetary and otherwise. Sentimentality has always been a key driving factor of NRI purchases in India, but with the world’s best comforts being available in India, the sentimental reason for buying a home “back home” amongst the NRIs, is also supported by valid reasons for quality real estate investing.

To make matters more compelling, the technological revolutions that the entire world has witnessed in the 21st century have now made it easy for people from any part of the world to invest in different parts of the world with minimal hassles. Not just that, the technology also makes it easier for buyers around the world to have access to information on a real-time basis.

While Mumbai and Bengaluru are the preferred destinations for NRI investors, other smaller cities have also been part of the real estate boom, especially the demand propelled by NRIs. With the availability of a cosmopolitan lifestyle, world-class educational institutions, and a thriving start-up ecosystem, real estate investment in Indian cities is quickly becoming a highly recommended investment destination. As far as preferences in ticket size are concerned, NRI buyers are typically looking for properties with a budget exceeding 1 crore. This number is more than 25% according to different reports. This is an indication that NRIs investing in Indian real estate are looking to find high-value investments in the Indian Real Estate Market.

It is worth noting that NRIs do have their qualms about the sector as well, specifically speaking, many are wary of a lack of transparency while navigating the Indian real estate markets. This highlights the urgent need for improved accessibility in the home-buying process in India. Property management services are an ideal solution for many who find the lack of information on regulations too cumbersome to manage by themselves. Property Management services are on the rise in India precisely to capture this category of NRIs. The services offered by such providers can be diverse and include services such as finding and maintaining tenants (And their agreements). Such options give NRIs the much-needed peace of mind that they are looking for while managing their properties in India.

The good news is that the real estate market is in such a phase in India right now that the market is dynamic and ripe for innovation. The innovation is being spread across the board when it comes to the real estate industry at large, from property management services to utilities offered by residential properties. One just needs to take a look at the growing skyline of a city like Mumbai to get a visual illustration of the growth in the city’s (the country’s) real estate sector. In addition, the Indian economy as a whole is heavily prioritizing sustainable practices and sustainable industry. This focus on environmental issues that is persistent in the Indian diaspora of today, has led to plenty of availability of sustainable homes for environmentally conscious NRIs looking for a value investment in real estate. What’s more is that these sustainably made homes are available across ticket sizes, giving NRIs a big pool of investment opportunities to choose from.

All things considered; things are looking bright for the Indian real estate sector. It must be mentioned that increased government spending on capital expenditure nationally has also been a gradual amplifying factor for the rising demand in Indian real estate, not just from NRIs but also foreign investors of varied heritage. One can say that every aspect of Indian Real Estate is on the verge of a demand wave the likes of which the nation, and possibly the world, hasn’t seen before.

Source: economictimes.indiatimes.com