How NRIs helping elevate India's realty play
NRIs) are contributing nearly a fourth to the total residential sales at large developers, up from 7-10% before the pandemic, as top cities continue to see price appreciation and rising demand.
According to developers and brokerage firms, the US, Singapore, the UAE, Australia and Saudi Arabia have emerged as big markets for them and they have dedicated teams to help buyers in selecting the projects.
According to market sources, the country's biggest developer DLF in its last project Privana South in Gurugram, had achieved 25% share (about ₹1,800 crore) in NRI sales.
Overall, during fiscal year 2023-2024, sales from NRI investors surpassed ₹3,400 crore for DLF, which is almost 20% of total sales.
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«The US has outpaced other countries by a significant margin in terms of demand and transaction. Demand has also increased from NRIs based in Singapore, the UAE, Australia, and Saudi Arabia. To provide some context, the average ticket size of investments from NRIs varies from country to country,» said Saurabh Garg, co-founder & chief business officer at NoBroker.com.
According to the company, during the fiscal 2019-2020, NRIs were estimated to account for approximately 10% of the total investments in the Indian real estate market. However, in the subsequent years, this figure has seen an upward trajectory.
«We have received a robust response, particularly from regions like Dubai, Abu Dhabi, London, Singapore, Hong Kong and the US with significant inquiries
