The contribution of non-resident Indians (NRI) to the Indian real estate market has grown significantly. With their investments rising over the past five years, NRIs contributed around 10% of India’s total real estate investments. A report by No Broker forecasts this contribution to reach 20% by 2025.
The reasons behind this surge in NRI investments are manifold. On one hand, India’s real estate market offers some of the best comforts in the world, making it an attractive investment option. Meanwhile, there is a strong emotional pull for NRIs to own a home ‘back home’, a sentiment further reinforced by the potential for quality real estate investing in India. Most NRI buyers purchase property for self-use, highlighting their sentimentality and sense of security in India.
Moreover, while Mumbai and Bengaluru are the preferred destinations for NRI investors, other regions have been the driving force behind the country’s real estate boom, with the demand propelled by NRIs. Amidst these regions, Punjab witnesses an upsurge fueled by the influx of NRI investments. Financial inflows into the state’s property market have reached unprecedented levels, marking a new era of growth and development for the region. Punjab’s real estate market is witnessing a rejuvenation both in the commercial and residential properties. In addition, Mohali in the Tri-City area has significantly become a thriving real estate market boasting properties in both segments.
Furthermore, with Punjab’s real estate market poised for exponential growth, developers are gearing up to meet the demand for premium properties, innovative designs, and world-class amenities. With evolving consumer preferences, NRI buyers seek expansive living areas with premium amenities catering to their discerning tastes. Hence, the infusion of NRI investments promises to redefine the skyline of Punjab, creating vibrant urban spaces and luxurious living experiences for residents and investors alike.
Thus, Punjab’s real estate landscape is evolving, fueled by the aspirations of NRIs seeking a home in their country. As the state embarks on this exciting development journey, the partnership between Punjab’s real estate industry and NRIs remains constant, offering properties that redefine the state’s realty landscape.
