As the Indian real estate market growth continues upward, Bangalore continues to take center stage among Non-Resident Indian (NRI) investors.
Bangalore is the preferred location for NRI real estate investment because of its lucrative prospects, the abundance of property managers and consultants, and an NRI’s emotional attachment to home. Its luxuriant atmosphere is also one you wouldn’t find in most other locations in India.
As NRI real estate investment amounted to $13.1 billion last year, more NRI real estate investors have started searching for Indian properties. The market is therefore expected to grow a further 12% this year, 2022. Interestingly, Bangalore remains their preferred choice. In one recent market analysis, about 53% of NRI respondents intend to buy Indian property for personal use, while 47% will do so for investment purposes. Bangalore is the chosen destination for at least 22% of that group.
Notably, most of these NRIs are looking to return home to a luxurious and popular environment, and Bangalore offers them just that. Plus, such assets serve as a form of long-term security to their wealth pending when they choose to come home and settle down.
Perhaps you don’t want to be left behind.
Reasons Bangalore is the choice for NRI real estate investment
If you’re considering buying Indian property as an NRI investor, here are reasons why Bangalore is the best place:
Bangalore is the fastest growing city in India
Bangalore or Bengaluru has become the technology hub of India, now often nicknamed the Silicon Valley of India. Being an IT powerhouse and a fertile ground for startups, Bangalore is experiencing a surge of demand for residential and commercial property as residents and entrepreneurs are moving in. This high demand is very beneficial for NRI real estate investment.
A wide array of luxury properties
Not many Indian cities have a considerable assortment of luxury housing. Notably, a young well-to-do NRI will likely prefer to return home and settle in a luxury location. And since Bangalore’s per capita income exceeds those of other Indian cities, developers can launch luxury housing here, knowing there are buyers, tenants, and investors who can afford them.
Hence, Bangalore has become a city graced with a wide variety of luxury housing, attractive to most NRI real estate investors.
Passion and emotional attachment
One of the greatest reasons for NRIs investing in Indian property is their emotional attachment to their home country. Indeed, many NRIs are Indians who left the country to school or work abroad. However, their hearts remain back home, and at the end of the day, there is a yearning to return to their roots, family, and community.
For this reason, NRIs invest in real estate in India, hoping to one day return home and retire in some luxury, pleasant location. And Bangalore happens to be the perfect spot.
The depreciation of Rupees against the dollar, relaxed investment regulations, implementation of the Real Estate Regulation and Development Act (REDA), mouth-watering developer incentives, and abundance of real estate consultants in Bangalore have fueled the trend.
For example, we at Valuepersqft Bangalore guide NRI real estate investors in choosing the right Indian property in the best location for maximum ROI. These factors have made acquiring Indian property much easier than ever before.
The tax benefits for NRI real estate investment are one to envy. There’s no cap on how many Indian properties NRIs can buy, so they are able to invest, buy, and lease as they please. This encourages more real estate investment in India, particularly in Bangalore.
How NRIs can buy property in Bangalore
Standing at 3,000ft above sea level, Bangalore is generally much cooler than most other Indian regions, contributing to its overall pleasantness. So whether you’re looking to rent, sell, or retire, Bangalore is the perfect destination for NRI real estate investment as it promises the best returns on investment.
Looking for how to buy property in Bangalore? Our experienced real estate consultants at Valuepersqft are ready to guide you in making this big decision. With us, any NRI can buy property in India without visiting.
Contact us today.