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Developers say NRIs continue to invest in real estate in India, and they account for nearly a fourth of the sales.
“The depreciation of the Indian rupee has further enhanced NRIs’ purchasing power, making luxury properties more accessible. NRIs from the United States, United Kingdom, United Arab Emirates, Canada, and Singapore have shown the highest interest in Indian real estate," said Aakash Ohri, joint managing director, DLF. "These regions host affluent Indian communities with the financial capacity and aspiration to invest in high-value properties.”
NRIs accounted for 23% of DLF’s total sales in FY24, the highest in recent years. This marks a substantial rise from 14% in FY23 and 5% in FY22. Additionally, in specific projects like Privana West in Gurugram, nearly 27% of units were bought by NRIs, underscoring their strong preference for luxury living.
“India’s real estate sector is entering a new era of global integration, where both domestic and NRI buyers play a pivotal role in shaping its future. With strong economic fundamentals and increasing confidence in India’s growth story, developers are expanding their reach to connect with Indian communities worldwide,” said Pradeep Aggarwal, founder and chairman, Signature Global (India) Ltd.
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Housing sales in India’s eight prime residential markets dipped 26% in the October-December period of 2024 when compared to the same quarter last year, according to a report by digital real estate transaction & advisory platform PropTiger.com.
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“We are actively engaging with overseas buyers across key markets like the US, UK, Australia, Singapore, and Dubai. NRIs trust in India's growth story, coupled with a robust infrastructure push and evolving lifestyle preferences, makes Indian real estate an attractive and secure asset class for global investors,” said Ravish Kapoor, managing director, Elan Group.The Delhi NCR market stood out as the only region among the top eight cities to register positive growth in new home sales, with 9,808 units sold in Q4 (Oct-Dec 2024), a significant rise from 6,528 units in the same period last year.
“Real estate demand in India remains robust, particularly in the high-end luxury segment, where strong buyer interest meets a constrained supply. While global real estate markets have struggled with economic uncertainty, India’s housing sector has displayed remarkable resilience, making it an attractive investment destination,” said Aman Sarin, director and chief executive officer, Anant Raj Limited.
New developments featuring world-class infrastructure and amenities on par with global cities are drawing increasing interest from Non-Resident Indians (NRIs). Additionally, India’s strong economic performance and its emergence as a preferred destination for Global Capability Centers (GCCs) by multinational corporations are creating high-paying job opportunities, further boosting demand for premium housing.
“Beyond the metropolitan areas, NRIs are also expanding their investment portfolios to include Tier II cities. This trend underscores a shift in focus, where NRIs are recognizing the potential of emerging urban centers that offer promising growth opportunities,” said Udit Jain, Director, One Group.
Among the most favored locations in Northern India, the tri-city region of Chandigarh, Mohali, and Panchkula stands out as a prime destination for NRI investments.
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Additionally, areas on the outskirts of Delhi, such as Bahadurgarh and Rohtak, are gaining traction among NRIs due to attractive features like lower property prices, robust rental yields, and optimistic growth prospects.
( Originally published on Mar 16, 2025 )
