4 Cities to invest in property for NRIs
Well boys, it’s that time of the year when you climb down the Empire State Building and waltz home to India, spending most of your paid leaves (and then some more) to attend about 30 odd weddings. Shaadi season is here and you, Mr. Eligible NRI are on every match maker’s radar. You know those aunties are going to be sporting their ‘husband-material-vision’ goggles at every single wedding, making the most of your visit home. Our question is, why don’t you?
Property-rich cities across India are attracting Non Resident Indians from across the world because even with the rupee falling, real estate investments have always been a lucrative investment option for the NRI investor. The NRI investor needs to consider a lot of elements before investing – one being location. So where should the NRI investor lock in those dollars, pounds or dirhams? We chalked out a list of cities that offer the best of real estate opportunities for the NRI investor.
The hills are calling and how! This city is 35 kilometres of hot cakes – from loft apartments in the IT hub that is Hinjewadi to luxurious living spaces in Kalyani Nagar and Koregaon Park, Pune has something to fit every investor’s pocket. The bustling nightlife, easy connectivity to Mumbai via road and railways and easier connectivity to other cities and countries through its airport, and modern day living facilities make Pune one of the best investment choices in India.
With more FDIs coming in, companies preferring to set shop in Gurgaon and real estate properties have mushroomed left, right and centre. They say people from Northern India like their living spaces large and Gurgaon’s sprawling penthouses and bungalows are proof. What with the Delhi metro services being exceptionally good, Gurgaon is no longer ‘that land far far away’. Consider micro-markets like the Golf Course Road or Golf Course Extension Road for excellent property investment options.
A haven for IT professionals, Bengaluru is one of the places that hasn’t fallen for loft-style New York apartments (not yet, anyway). So if you’re looking for luxury homes that are equipped with swimming pools or if you have enough for your own little slice of heaven, Bengaluru offers spacious villas to the NRI investor. As the place is an IT hub, techies have turned into bargain hunters, looking for the best deals on rented living spaces – so your investment is bound to have rental gains all year round. Look at investing in prime property areas like Indira Nagar, Marathalli, Whitefield or areas closer to Kempegowda International Airport like Yelahanka.
This planned city is sure giving good ol’ Mumbai a run for its money with pocket friendly and spacious habitation properties. Government organizations like CIDCO have turned this city into a model for planned cities in the future as Navi Mumbai is equipped with parks, golf courses, super markets, malls and a metro line; not to mention, the upcoming airport. (No more heavy traffic rides to Mumbai’s western suburbs). A number of MNCs are investing in Navi Mumbai, making it a hub for working professionals. Homes here are likely to cost three times lesser than Mumbai city and every place is connected via road or railways. Let’s say this is similar to working in NYC but living in New Jersey or Connecticut – much more economical. Plus, with the city developing gradually, the appreciation is higher, so your ROI would be a handsome amount.
So boys, leave the bride scouting to the aunties and make sure you hunt for an investment opportunity in real estate the next time you visit home.
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