The real estate sector has steadily proven to be an attractive asset class with healthy returns, and thus has gained the attention of both locals and NRIs alike. NRI buyers usually visit India in large numbers between the months of October and December, and many try purchasing a residential property during this period. They primarily tend to look for a well-connected ecosystem curated with numerous choices to live, work, and play.
This influx in property investment has expanded the consumer market pool for developers, encouraging them to take their projects a notch up; in order to meet international living standards in a holistic manner.
The residential realty sector of India saw a surge of up to 13.1 billion dollars last year and that number is expected to increase by 12% this year. Gurugram and Mumbai are the top cities that have attracted a major part of these figures.
“The NRI real estate investments came at a time when the Indian real estate market was slowing down. Buyers have shown a strong interest in luxury homes and vacation properties, with the significant proportion of bookings occurring in those categories. It is also a promising indicator for the real estate industry, as it is consistently chosen as an appealing asset enticing greater and more favorable returns compared to any other investment," said Suren Goyal, Partner, RPS Group. (Quote Source)
A report by real estate firm Anarock found that 71% of NRIs consider investment in the Indian housing market as the safest and wisest bet, markedly higher than 55% in a Pre-Covid edition of the survey. This shows that the real estate sector still remains one of the most attractive and lucrative assets, especially when it comes to offering unmatched opportunities and a reliable growth rate. (Source)
The value of one US dollar against Indian Rupee, is currently around ₹82. The industry observers see it as an opportunity for NRIs to invest in India's fast growing and lucrative realty sector, as they are assured to gain a lot considering the given economic situation. Adding to that, the Central and many state governments have launched various policies and schemes to encourage homebuyers.
Our efforts at Chandak Group are to build great living spaces and in turn build communities that are positive, modern and secure. One that is suited for both locals and NRIs, and one that over the years prove to be an appreciating asset. We extend priority services for our NRI clientele and ensure that the entire process of booking a home is as seamless and hassle free as possible. If you are looking to explore investment options for the Mumbai Market, the time is now.