Best Indian Real Estate Investment Opportunities for NRIs: Top Locations

Investing in Indian real estate is now a popular choice for Non-Resident Indians (NRIs). We'll explore why this trend is growing and share details about the best cities and up-and-coming areas for investment.

Many Indians today are looking for different ways to make money and secure their financial future. Simply relying on their income and regular savings isn't enough anymore. People are seeking to invest their money and create multiple income sources alongside their jobs.

For a long time, investing in real estate has been seen as a smart and successful financial move. India has recently become known as a place with great potential for real estate investments, attracting both local and foreign investors. NRIs, in particular, have played a big role in developing the Indian real estate market. In this blog, we'll look at the possibilities for investing in Indian real estate, especially focusing on what's in it for NRIs.

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Top 5 Indian Cities in 2023 for NRIs to Consider Real Estate Investments

As an NRI, you always want to stay connected to your homeland, India. Besides the warmth of friends and family, having your own house here is incomparable. The experience of coming back to India and residing in your own home is truly priceless, creating a sense of belonging and comfort that justifies every rupee spent.

But as an NRI, how do you decide where to invest and which city to choose for your investment? This article will guide you through the best options for investing in real estate in India, ensuring you make an informed choice and find the perfect place to call your own.

Mumbai: The Timeless Hub for Investments

Mumbai, one of India's most famous cities, is continuously growing due to the influx of people looking to settle there. This expansion has sparked a growing interest in real estate investments, despite the city being one of the most expensive for such investments. However, experts suggest that areas like Goregaon, Mulund, and Kandivali in Mumbai are favorable for real estate investment.

To support the growing population, the government has implemented policies like the Jal Jeevan Mission, which aims to improve the quality of water supply across the city, ensuring safe water for all residents. Mumbai serves as a hub for various major industries, including the vibrant entertainment sector, multinational corporations, manufacturing, and textiles. The upcoming Mumbai Metro and Mumbai Trans-Harbour link are set to improve connectivity within the city.

Pune: The Hub of Cultural and Educational Excellence

Pune, a fast-growing city with great infrastructure, technology progress, and easy connections, stands as the top choice for NRIs to invest in 2023. Contributing 13% to the state's GDP, Pune has become a profitable real estate market. The real estate values shot up by 75% in 2023, and experts predict this trend will continue in the next year.

Moreover, Pune's residents have benefited from government schemes like PMAY, which have already allocated 4,884 units to scheme beneficiaries. Pune offers various facilities, including renowned educational institutions like Symbiosis Institute of Media and Communications, Savitribai Phule University, and Dr. DY Patil Vidyapeeth. The city also has excellent medical services available at hospitals such as King Edward Memorial Hospital, Ruby Hall Hospital, Deenanath Mangeshkar Hospital, Aditya Birla Hospital, and Jehangir Hospital. With upcoming projects like the Pune airport, Industrial Park, High Capacity Mass Transit Route, and the Mumbai Pune Expressway, Pune aims to improve residents' quality of life, create more job opportunities, and boost revenue prospects.

Delhi NCR: The Hub of Urban Development

The National Capital Region (NCR), encompassing areas like Gurugram, Noida, and Faridabad, offers NRIs diverse investment opportunities in both residential and commercial real estate segments. With its strategic location and robust infrastructure development, Delhi NCR continues to attract NRIs seeking high-yield investments and long-term growth prospects.

Bangalore: The Silicon Valley of India

Bengaluru, known for its lush greenery, lively brewery culture, and thriving start-up environment, stands as a top hub for real estate investments. The city has experienced a significant surge in demand, thanks to the presence of major international companies, well-known hotel chains, and a growing manufacturing sector. Localities such as Bellandur, Indiranagar, HSR Layout, Koramangala, and MG Road are particularly popular among investors.

Efforts to address issues like drainage and traffic congestion are underway, with plans for new metro lines and infrastructure corridors in the pipeline. Bengaluru boasts excellent healthcare facilities, including Apollo, Fortis, Manipal Hospitals, and Sakra World Hospital, along with renowned educational institutions such as IIM-Bangalore, National Law School, RVCE, M.S. Ramaiah College, and NIFT, ensuring a steady influx of young talent.

Hyderabad: The Rising Star

Hyderabad is renowned for being one of the most affordable metropolitan cities in India, particularly in terms of real estate and cost of living. The city's excellent infrastructure has attracted numerous leading multinational companies to establish their offices there. Moreover, Hyderabad enjoys seamless connectivity with two major national highway networks, NH765 and NH44, passing through the city. The state government has implemented user-friendly and transparent online services, enabling residents to accomplish tasks more efficiently and conveniently.

The presence of top-tier hospitals and educational institutions has made Hyderabad an ideal location for families as well.

“ Read Also: The Complete Guide for NRI Real Estate Investment in India ”

Exploring NRI Investments in Tier 1 and Tier 2 Cities in India

Residential real estate in both Tier 1 and Tier 2 cities appeals to NRIs seeking a secure and comfortable living environment in their homeland. They are drawn to properties that offer amenities such as green spaces, security, and reliable returns, along with a focus on healthy living. There's a noticeable trend of NRI investors looking beyond major cities towards developing areas for property investment. These customers are interested in spacious homes from reputable developers, surrounded by nature and promoting community living.

NRIs are particularly inclined towards investing in Tier 2 cities, often motivated by a desire to be closer to their families in their hometowns. They seek homes that come with features like lush gardens, fitness facilities, parks, balconies, open spaces, and jogging tracks, catering to their preference for a holistic and healthy lifestyle. Many NRIs are considering these properties as potential retirement options, especially in their hometowns, recognizing the long-term investment benefits these homes can provide.

On the other hand, the rapidly growing Tier 1 cities offer ample opportunities for significant investment returns and remarkable development. Reputable developers provide residential spaces with top-notch amenities and vibrant social centers, including shopping malls, integrated townships, office complexes, entertainment hubs, and IT parks. These areas are becoming strong competitors to metropolises, attracting affluent visitors and potential investors from around the globe.

Conclusion

India offers a diverse range of real estate investment opportunities for NRIs, with cities like Mumbai, Pune, Delhi NCR, Bangalore, and Hyderabad leading the pack. Additionally, Tier 1 and Tier 2 cities present attractive prospects, catering to various investment preferences and lifestyle choices. With robust infrastructure, growing industries, and favorable government initiatives, India remains a promising destination for NRIs seeking secure and lucrative real estate investments.