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In the last decade, the real estate sector in India has witnessed a rapid growth. Among different market segments, the NRI market has stood out from the rest. Statistics reveal that NRIs are gradually assuming a larger part of the customer base of real estate in India. They are willing to purchase properties back in their homeland despite working and living in other countries. This is primarily due to their desire to lead a better quality of lifestyle back in their homes.
Investing in the Indian real estate sector turns out to be a profitable investment option. They can earn a good return from the investments, besides diversifying their investment portfolio. Particularly, NRIs in Canada, US, Europe, the Middle East, and other countries in Asia have shown strong interest in purchasing properties in India. Some of the property markets they are eyeing include Hyderabad, Bengaluru, and Gurgaon.
NRIs have also shown a strong intent to purchase properties in Tier-2 cities. They have been willing to purchase large properties in their respective hometowns. During the pandemic, the dynamics of many families in India have changed. The extended family system has been strengthened, and people are willing to live with their parents and grandparents. Besides, many professionals have been working from their homes. This has resulted in a demand for larger homes in all the cities. So, property buyers are looking for configurations where they can set up their workstations.
Another factor that has encouraged NRIs to invest in real estate properties in India is the depreciation of the rupee. As the US dollar continues to gain strength, NRIs find more money power at their disposal. This is yet another reason that motivates them to purchase their property in India. This trend is likely to continue and eventually grow stronger in the coming years. For NRIs, investing in Indian properties turns out to be a lucrative proposition.
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