Top builders say up to a quarter of their flats are picked up by NRIs now. India’s growth story, a desire for a better life for loved ones back home or settling here in old age are some of the reasons why NRIs are pumping in forex to pick up plush apartments
A leading property developer made headlines a few months back when it sold 1,100 luxury apartments in Gurgaon, each starting at a price tag of Rs 7.5 crore, in just three days straight. “What’s not known is that 250 of these were bought by NRIs,” a senior leader of Indiaspora, a nonprofit organisation of global Indian-origin leaders, said.
While People of Indian Origin (PIOs) and NRIs have always been emotionally invested in India, in the post-Covid years they have increasingly turned to real estate across Indian cities — from Gurgaon to Bengaluru, Hyderabad to Kolkata and Mumbai to Noida.
