According to the United Nations Department of Economic and Social Affairs Data, India has the largest diaspora in the world. While their contribution towards the countries of their residence is undeniable, what is significant is how the NRI money is increasingly bolstering our economy – more NRIs are investing their money back home now. Though traditional investments like Fixed Deposits and National Pension Scheme continue to be popular, real estate has emerged as an in-demand option. The realty sector has witnessed unprecedented growth over the past decade, and the Indian diaspora has played an undisputed role in it. Studies show that NRIs had invested $13.1 billion in real estate in 2021, a figure that further shot up last year.
Real Estate Attracts NRI Investment
The emergence of real estate as one of the main investment options among NRIs has multiple reasons. The traditional investment mindset is undergoing a transformation, and people are keen to diversify their portfolios. And, since few investment options promise lucrative returns like property, there has been a rise in demand for plots and homes in the country, especially in Metros.
In the previous days, one had to be physically present to manage one’s investments, which made it tougher for those living abroad. But now, with digital technology at its peak, remote management of any investment is hardly a daunting task – the entire world is just a click away.
The pandemic has also influenced people’s investment behaviour. An increasing number of people are now keen to stay close to their loved ones and extended families and are buying property in their hometowns. This has led to a real estate boom in Tier II cities, too.
Earlier, there were rampant malpractices in the realty sector, with many falling prey to fraudulent agents, developers and builders. This was one of the major reasons NRIs hesitated to invest their hard-earned money in property. However, Government reforms like RERA have made real estate transactions extremely transparent, making it a highly trustworthy investment option as well.
Incredible Advantages of Investing Back Home
The Indian economy has remained strong and is showing impressive growth trends. With vast options, the country offers an excellent opportunity to develop a diverse investment portfolio, which reduces overall risk.
A good number of NRIs eventually return home, and investing in India, especially in real estate, is an exceptional retirement plan. Any form of investment or remittance is also a golden opportunity to contribute to India’s development directly. Buying real estate has the added benefit of making one feel more connected with roots. The availability of high-end luxurious properties with world-class amenities has also increased the desirability of real estate investment.
Caution & Patience: The Keywords
Like every investment, you have to approach real estate with caution, too. Never be in a hurry to buy a property, and make sure that you do proper research before finalising a deal. Check if the documents are in place and seek expert advice when chartering unknown waters. But most importantly, choose a reputed and respected developer, a trusted name like Purva Land, who understands the pulse of the buyer and offers wholesome living – with amenities at par with the best in the world.
Plan Today For A Promising Tomorrow
With a strong economy, diverse options and the prospect of lucrative returns, NRIs are showing unprecedented interest in investing their money back home. As per the World Economic Outlook figure, India continues to be the fastest-growing economy in the world and is expected to become a $7 trillion economy by 2030. With such growth projections, now is the right time to explore the multitude of investment opportunities that India offers. What are you waiting for? Seek professional advice and seal the deal for a bright future.
