As an NRI, maintaining a strong bond with your home country, India, is vital. Apart from the irreplaceable connections of family and friends, having a home in India gives a unique sense of belonging. But the question arises, where should an NRI invest in India? This guide will help you understand the best places for real estate investment in India for NRIs.
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Top 10 Indian Cities in 2023 for NRIs to Consider Investing in
1. Pune
Pune’s growth trajectory has been impressive, marking its presence in infrastructure, technology, connectivity, and other industries. With a significant contribution to the state’s GDP, Pune’s real estate landscape offers considerable returns on investment. Furthermore, initiatives like the PMAY scheme have benefitted the residents, enhancing the city’s livability quotient.
Prominent educational institutions and top-tier hospitals further make Pune a desirable destination. Not to mention, major infrastructural projects in the pipeline promise to elevate the city’s connectivity and job opportunities.
2. Mumbai
Despite its reputation for high real estate prices, Mumbai’s ever-expanding nature makes it a real estate magnet. Key areas in Mumbai offer promising returns on investment, and government initiatives aim to cater to the growing population’s needs. Plus, Mumbai’s diverse industry base and infrastructural projects highlight its growth potential.
3. Kolkata
Kolkata offers a mix of rich culture and promising real estate prospects. The city’s affordable property prices, when compared to other metropolitans, make it an attractive investment hub. Government incentives and comprehensive amenities further strengthen Kolkata’s position as a favorable investment city.
4. Bangalore
Bangalore’s reputation as a tech-hub and startup city drives its real estate market. The increasing presence of major corporations, high-end amenities, and upcoming infrastructure projects ensure that Bangalore remains a prime location for investment.
5. Thane
Thane’s strategic location near Mumbai gives it an advantage in the real estate market. Its booming local economy and infrastructural developments make it an attractive proposition for NRIs.
6. Hyderabad
Hyderabad’s affordability, coupled with top-notch infrastructure and the presence of MNCs, drives its real estate appeal. Its strategic connectivity and government-friendly initiatives ensure a steady growth trajectory.
With the upcoming Navi Mumbai International Airport and other major projects, Navi Mumbai has been witnessing substantial real estate interest.
8. Chennai
Chennai’s dynamic real estate market, coupled with infrastructural developments and a skilled builder community, makes it a prime city for investment.
9. Ahmedabad
Ahmedabad’s steady real estate growth and forward-looking projects like the Smart City initiative amplify its appeal to NRIs.
10. Noida
Noida’s planned infrastructure, affordability, and forthcoming projects bolster its position as a prime real estate destination.
Cities With the Best Growth Potential
A study by Oxford Economics suggests that the top 10 cities for growth from 2019 to 2035 are all in India. With the potential of high GDP growth, India emerges as a lucrative investment destination for NRIs.
Fundamental Parameters of Selection
When considering a city for real estate investment, NRIs should evaluate several parameters:
Employment opportunities
Mobility and transportation
Infrastructure development
Healthcare and education facilities
Safety and security
Sustainability and eco-friendliness
Governance and socio-political stability
Cities Ranked on Quality of Life
India’s metropolitan cities are globally recognized for their quality of life, with several making it to Mercer’s 2019 Quality of Living Survey.
NRIs Most Favoured Cities to Invest in Real Estate
A survey by the Anarock Group and CII highlights the renewed interest of NRIs in India’s housing market post-COVID-19, particularly in luxury properties.
Real estate in India is projected to reach a market size of US$ 1 trillion by 2030, contributing significantly to the country’s GDP.
For comprehensive guidance and property investment options, NRIs can turn to Housewise. Offering bespoke services, Housewise ensures a seamless, secure, and stress-free property buying experience in India. For a deeper dive into the process and to explore suitable properties, connect with Housewise.
FAQ’s
Q1. Is India a good real estate market to invest in for NRIs?
Ans. Absolutely, given India’s rapid urbanization and economic growth.
Q2. Which cities offer the best quality of life?
Ans. Major cities like Bengaluru, Pune, Hyderabad, Chennai, Mumbai, Kolkata, and New Delhi rank high.
