This demographic represented almost 86% of the total properties purchased during this period. NRIs were looking to diversify their investments into multiple mid-value properties, instead of a single high-value investment. This was in stark juxtaposition with NRIs who previously preferred high-value homes, in favor of mid-value properties. The Square Yards study also indicated that a large majority of NRI buyers in the UAE are over the age of 45 and are looking to invest in homes as part of their retirement plans. This meant that NRI workers in the United Arab Emirates were looking for long-term investment options in the Indian property market.
Many decision factors have encouraged Indian nationals living abroad to invest in the Indian property market. With banks offering lower interest rates on home loans and a favorable currency movement, the real estate landscape is ripe for massive investment. In addition, the government has welcomed investments by digitizing procedures and introducing more transparent regulations. This has further encouraged NRI investors in the Gulf countries to favorably view the Indian real estate sector as a lucrative investment option.
Sharing on the matter, Aakash Ohri, Executive Director and Chief Commercial Officer of the Group, said, “The residential market in the Delhi-NCR region offers great opportunities for NRI investors in the UAE to park their hard-earned cash and receive great returns on investment. In Delhi NCR, especially Gurgaon, home to Fortune 500 companies, cosmopolitan culture, robust infrastructure and world-class amenities, is a paradise for NRI investors looking to invest in residential real estate. IGI Airport, Gurgaon has always been a favorite hotspot for UAE NRIs. The area offers a host of options for investors in the luxury, super-luxury and high-end residential segments. As we see massive appreciation in property prices in Gurgaon, especially in areas like Raghvendra Marg (Erstwhile Golf Course Road), DLF Phases 1-4, NRI investors are looking to make significant gains on their property investments across the ury lux and super-luxury categories.
NRIs living in the UAE have always viewed Indian real estate as a safer investment option. The real estate landscape in the NCR, particularly in Gurgaon, is more mature in terms of coverage and flexibility. Gurgaon not only offers investors a metropolitan lifestyle but also offers a diverse range of options to invest in affordable, luxury and high-end luxury segments.
Indians living abroad have an unbreakable bond with their homeland and like to keep an option of returning to India for the future. Following the adage of not putting all eggs in one basket, Gulf-based NRIs are now looking to diversify their portfolio by investing in multiple affordable segment properties in the region, rather than focusing on a single property of luxury. While most NRIs in the UAE are over the age of 45, buying property is in their plans after retirement. However, several NRI investors are looking to take advantage of the current geopolitical climate to make lucrative gains on their property investments in the Delhi-NCR region.