The stark price contrast is a significant factor driving this shift. In Hyderabad, the cost of a single acre of land can range from Rs 40-50 crore, while in Dallas and Austin, it ranges from USD 500,000 to 700,000 (equivalent to Rs 4-6 crore)
Lakshmi Sharan
NRIs are turning away from Hyderabad’s exorbitant real estate market, seeking more feasible investment options, primarily in Texas, as reported by ToI.
The report highlights a growing trend among NRIs who are redirecting their investments towards two prominent Texan cities, Dallas and Austin, as opposed to the real estate market in Hyderabad, the capital of Telangana. The stark price contrast is a significant factor driving this shift. In Hyderabad, the cost of a single acre of land can range from Rs 40-50 crore, while in Dallas and Austin, it ranges from USD 500,000 to 700,000 (equivalent to Rs 4-6 crore).
The rapid development and more reasonable land prices in Texas make it an attractive destination for NRIs seeking real estate investments. Hyderabad, according to Knight Frank’s 2023 Affordability Index, ranks as the second most unaffordable real estate market in India, primarily due to the high home loan-to-income ratio
Beyond the financial aspect, NRIs are also drawn to the comparable weather conditions found in these US cities, making the transition more comfortable.
Texas has further gained favor due to its burgeoning corporate landscape, with major companies establishing a presence in and around these cities. The relocation of Tesla’s headquarters to Austin and the presence of Toyota’s US headquarters within the state are prominent examples.
The rapid development and more reasonable land prices in Texas make it an attractive destination for NRIs seeking real estate investments. Hyderabad, according to Knight Frank’s 2023 Affordability Index, ranks as the second most unaffordable real estate market in India, primarily due to the high home loan-to-income ratio. This reinforces the inclination of NRIs towards the Texas real estate market, seeking both affordability and potential returns on their investments.
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