In the ever-evolving landscape of India’s real estate sector, 2024 is poised to witness a heightened surge in the investments by non-resident Indians (NRI), particularly in the luxury residential market. As per a NoBroker report, between 2019 and 2020, NRIs constituted 10% of total real estate investments in India, which surged to 15% in 2023 and are projected to reach 20% by 2025. This surge in interest in luxury properties is fuelled by various factors that make the industry an increasingly lucrative investment opportunity for them.
Non-resident Indians (NRIs) have been increasingly looking beyond major metropolitan cities in India for investment opportunities. Tier-2 cities stand as vibrant hubs of opportunity with their better work-life balance, connectivity, and affordability that are uniquely positioned to spearhead India’s journey towards a thriving future envisioned in “Viksit Bharat” by 2047. Earlier, rental yields hovered between 2% and 3%, but now they have surged to a more lucrative range of 3% to 5%. Additionally, significant capital appreciation has been witnessed across key localities in major cities over the past two years. According to a recent report by JLL India, almost 44.4% of land deals transacted by developers between January 2022 and October 2023 were in Tier II and III cities. As a result, Tier-2 cities are increasingly becoming a promising destination for the investment in luxury residential properties.
As urban living becomes increasingly chaotic, there is a noticeable trend among Non-Resident Indians (NRIs) and other individuals seeking a serene retreat away from the hustle and bustle of city life. The idea of owning a luxurious home surrounded by breathtaking natural scenery has become
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