The choice of high profile NRIs in terms of real estate investment is more of emotional urge to come back to the hometown than the locations that are attractive as job magnets. No wonder, more than three-fourth of NRIs, as many as 78 per cent, wish to invest in their hometown.
With its footprint in GIFT City, India’s 1stOperational Smart City and International Financial Services Centre (IFSC), SOBHA increases increase its residential footprint to 10 cities in India.
India witnessed a growth of 85% in property investments in the first nine months of 2017, compared to the same period last year, says Colliers International’s recently released report titled ‘Of High Growth, Low Real Rates and Black Swans’.
What has made Bangalore real estate market so very different? Has Bangalore been just blessed with climatic conditions, thriving economy of the region and talent pool or the developers in the city have been conscious to learn from the mistakes of other markets?
Second home market is a new phenomenon in urban India but has emerged as a sunrise market in cities like Mumbai. With the ever changing trends the demand for holiday homes has varied according to the consumer’s needs and tastes amongst various cities. Hence, there cannot be a one size fits all answer to the dilemma of location or affordability. For many a second home in India is housing which offers opulent living spaces and ultra-modern luxurious amenities; whereas for others it is a safe investment.
As per the data available with Track2Realty, the Malayalese and other South Indian NRIs are nowadays investing into Kochi and Coimbatore than Bangalore or Chennai. Gujarati NRIs are investing into Ahmedabad and Vadodara than Mumbai. Mumbai-born NRIs are investing into Pune and Nashik than Mumbai. North Indian NRIs are investing into Noida and Ghaziabad than Gurgaon. One common thread into all these investments is scaling down of property segment – from ultra luxury to mid-segment and premium housing.
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2015 proved to be a good year for key Indian metros as inflows into real estate by private equity (PE) funds was at a record high. The total investment that the sector got was approximately INR 19,500 crore.