A large number of those surveyed showed interest in Noida and Yamuna Expressway areas due to fast pace infrastructure projects and expansion of cities beyond Noida and Greater Noida
A recent survey Neo-Realty Survey conducted by MYRE Capital found many NRIs are considering investing in commercial real estate (CRE) in India to diversify their portfolio.
A large number of those surveyed showed interest in Noida and Yamuna Expressway areas due to fast pace infrastructure projects and expansion of cities beyond Noida and Greater Noida.
Construction Week report citing the survey stated, “18% of NRIs prefer investing in the commercial sector over the residential sector, with 9% preferring residential. The primary motivation for investing in CRE is the potential for higher returns, with 34% of NRIs citing this as a critical factor. Additionally, almost 48% of NRIs find investing in CRE highly convenient, with the ability to identify properties and a straightforward investing process.”
According to the survey, the top cities for NRI investment are Bengaluru, Mumbai, and Pune, followed by NCR. However, interest in regional hotspots like Ahmedabad, Lucknow, Chandigarh, Kochi, and Indore has also increased recently
“NCR, especially Noida and Yamuna Expressway regions, are among the preferred locations of NRIs investments. The twin hubs offer immense prospects and high ROI. With the international airport expected to be operational in a few years and international companies setting up their headquarters, NRIs are actively investing in the properties in these areas,” Sanchit Bhutani, MD, Bhutani Grandthum, said to Construction Week.
“Advancements in technology have made it easier for NRIs to invest in the Indian real estate market. Shortlisting properties, exchanging information and understanding the processes with developers and property consultants can now be done through online interactions. As a result, NRIs, even before actually setting foot in the country, have a fair idea of the properties they are interested in. Digital technology has considerably reduced the need for physical visits by NRIs, thus saving their time, money and hassles from hopping from one property to another,” the report quoted Vikas Bhasin, MD, Saya Homes.
“Noida has emerged as a prime destination for commercial real estate investments. It promises great return on investments as lately many sustainable A+ grade buildings and projects have been launched in the commercial RE segment. Fractional ownership has been preferred by NRI population as it is economical for them because they come only for a few months in theirs native country,” the report quoted Salil kumar, director, marketing & business management, CRC Group as saying.
According to the survey, the top cities for NRI investment are Bengaluru, Mumbai, and Pune, followed by NCR. However, interest in regional hotspots like Ahmedabad, Lucknow, Chandigarh, Kochi, and Indore has also increased recently.
***********************************************************
Readers
These are extraordinary times. All of us have to rely on high-impact, trustworthy journalism. And this is especially true of the Indian Diaspora. Members of the Indian community overseas cannot be fed with inaccurate news.
Pravasi Samwad is a venture that has no shareholders. It is the result of an impassioned initiative of a handful of Indian journalists spread around the world. We have taken the small step forward with the pledge to provide news with accuracy, free from political and commercial influence. Our aim is to keep you, our readers, informed about developments at ‘home’ and across the world that affect you.
Please help us to keep our journalism independent and free.
In these difficult times, to run a news website requires finances. While every contribution, big or small, will makes a difference, we request our readers to put us in touch with advertisers worldwide. It will be a great help.
For more information: pravasisamwad00@gmail.com