Bengaluru – The Emerging NRI Investment Hotspot
Bengaluru’s residential real estate is a significant investment destination now for NRIs. The allure of the Indian Silicon Valley can be traced back to an impressive lineup of infrastructure ventures, state-of-the-art IT corridors, a tranquil ambience, a secure cosmopolitan ethos and many other reasons.
Let’s dive more into what makes the investors look forward to the growth and the property market in Bangalore.
Diverse NRI Investments:
A remarkable sign that the investments pouring into our country, especially in Banaglore are distributed across the globe. Investors from diverse corners of the globe, spanning Asia, Singapore, the Middle East, and the United States, are putting substantial capital into Bengaluru’s thriving real estate landscape. Notably, NRIs based in the Middle East and Singapore are displaying a growing interest in reclaiming their roots and establishing a lasting presence in Bengaluru.
Bengaluru, Hyderabad, and Pune are among the preferred destinations for NRI investments in the real estate sector, as per the reports by trade experts.
2023 Investment Projections:
As per the expert prediction the NRI investments in India, are expected to surge to an impressive $80 billion by the close of 2023 and Bengaluru will get a major share of the number. This marks a noteworthy rise from the $65 billion invested in the last year. This exponential growth is due to India’s unwavering economic expansion, strategic government efforts and steps taken to streamline NRI investments.
Rupee Appreciation Impact
The recent appreciation of the Indian rupee has made Indian assets more appealing to NRIs.
Bengaluru and Mumbai are the leading markets, with Bengaluru experiencing the highest residential price increase of around 11-12% year-on-year in the first half of the year.
For an investor outside India, this is a lucrative opportunity to get higher returns on property.
This substantial increase underscores Bengaluru’s growing prominence as a prime destination for NRI investments in the real estate sector, cementing its place as a thriving hub for lucrative opportunities in the Indian real estate landscape.
Real GDP Growth:
India’s real GDP growth, this year stands at 6.1% (as of March 2023) and is all set to further soar, expected to reach an impressive 6.5% by FY24. This robust economic performance lays down a welcoming carpet for NRIs looking to invest in the real estate sector, with Bengaluru taking centre stage.
NRIs are showing considerable interest across various asset classes, including the opulent luxury residential segments and the bustling Commercial Real Estate (CRE).
The introduction of India’s retail REIT, the ‘Nexus Select Trust,’ plus the swelling demand in the real estate landscape, is attracting NRI investors.
The city’s reputation as India’s IT nerve centre and a global tech hub is steering NRI investments towards co-working spaces and Grade A office spaces. This thriving ecosystem, marked by economic growth and innovation, positions Bengaluru as a prime destination for NRIs seeking lucrative real estate opportunities.
Bengaluru’s growth has been truly remarkable. The city has witnessed a tremendous increase in infrastructure development, with new IT corridors coming up, in suburban regions like Sarjapur.
As the undisputed IT hub and a renowned global tech city, Bengaluru is attracting substantial investments from NRIs. They are not only eyeing the booming real estate market but also recognizing the potential in co-working spaces and Grade A office spaces within the city. This flourishing ecosystem is making Bengaluru an even more enticing destination for savvy investors.
