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NRI home buying surges, buoyed by roots and solid returns

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From serene hill stations to the bustling cities and opulent locales of metro areas, Non-Resident Indians (NRIs) are increasingly acquiring properties, not only as a strategic investment but also as a means of staying connected with their cultural roots. Developers are getting enquiries from the United States, United Kingdom, Singapore, the Middle East, and even Australia. NRIs accounted for approximately 15%–25% of investments in newly launched residential projects across India’s top seven cities — Delhi-NCR, Mumbai Metropolitan Region, Bengaluru, Pune, Hyderabad, Chennai, and Kolkata — in 2024, Shekhar G. Patel, president of CREDAI, points out.

Women in the buyer’s seat

“Cities such as Delhi-NCR, Mumbai, Bengaluru, Hyderabad, and Chennai continue to attract interest, backed by infrastructure growth and favourable policy frameworks. At the same time, Tier 2 and 3 cities like Ahmedabad, Kochi, Indore, and Lucknow, are witnessing growing traction among NRIs due to better affordability and rapid urbanisation,” he adds.

“With the Indian economy projected to grow at 6.5% in FY 2025–26, the overall environment remains favourable for long-term investment.”SHALIN RAINA Managing director, residential services, Cushman & Wakefield

Over the past two years, another interesting trend that has emerged in India’s real estate sector is the rise in the number of NRI women who are stepping into the role of independent property buyers. As women are begining to earn more abroad, many are investing in properties back home and taking a keen interest in keeping the next generation closely connected to their families in India.

Traditionally, real estate investments, among NRIs, have been dominated by men, often in joint partnership with spouses. The profile of NRI home buyers has also changed. Earlier, the market was dominated by techies, salaried professionals, and established business entrepreneurs. Now this segment is witnessing a shift with younger buyers, in the age group of 35 to 45, becoming a major force in the market. They are spending anywhere between ₹3 crore and ₹5 crore on homes. Meanwhile, older NRIs, particularly those above the age of 40, are gravitating toward luxury homes with budgets starting at ₹5 crore. Some buyers are even willing to invest upwards of ₹25 crore on premium properties.

In 2024, NRIs accounted for 12% of purchases for Bengaluru-based Brigade Group. This increased to 16% in 2025, fuelled by a preference for modern homes featuring well-designed architecture, luxury amenities, and proximity to workspaces. For example, the firm’s Gateway project in Hyderabad saw 35% of its buyers from the NRI category, reflecting the demand for high-end living spaces. “NRIs tend to favour homes where the layouts and architectural styles reflect those in the West, Dubai, or Singapore. They show a preference for contemporary aesthetics and brand-conscious selections,” says Viswa Prathap Desu, COO Residential, Brigade Group.

“At Brigade, we have noticed particular interest in the South Indian cities of Hyderabad, Bengaluru, Chennai, and Mysuru,” he adds.

Meanwhile, the Hiranandani Group has also experienced a notable increase in demand from NRI homebuyers for its township projects located in Powai, Thane and Panvel within the Mumbai Metropolitan Region, and Oragadam in Chennai.

“Cities such as Delhi-NCR, Mumbai, Bengaluru, Hyderabad, and Chennai continue to attract interest, backed by infrastructure growth and favourable policy frameworks”SHEKHAR G. PATELL President of CREDAI

Additionally, more affordable investment options, such as plotted developments, have gained popularity among NRI homebuyers at the Oragadam project in Chennai. Niranjan Hiranandani, chairman and managing director of Hiranandani Communities, says, “For NRI buyers, the preferred investment range for apartments in the Panvel project is between ₹1 crore and ₹2 crore, while in Powai, the ticket size starts at ₹3 crore.” Hiranandani adds that NRIs tend to prefer branded projects with integrated living and holistic amenities, self-sustaining ecosystems, high rentals, professional concierge services to maintain homes, assured rentals by developers, and better ROIs to shortlist their investments.

According to statistics shared by DLF Home Developers, during the financial year (FY) 2023,the firmgenerated$240 million in sales from NRI investors, representing approximately 14% of total sales. In FY 2024, NRI contributions to DLF’s residential segment amounted to around$408 million.And thismomentum continued in FY 2025, with NRI sales reaching approximately$421 million. Aakash Ohri, jointmanaging director and chief business officer, DLF Home Developers Ltd,says: “Recent project launches further highlight this traction — NRI buyers accounted for 25% of sales in DLF Privana South (around$216.1 million), 27.8% in DLF Privana West (approximately$180 million), and for The Dahlias, around 14% so far.

“NRIs tend to favour homes designed with layouts and architectural styles that reect residential styles of the West, Dubai, or Singapore. They show a preference for contemporary aesthetics and brand-conscious selections”VISWA PRATHAP DESUCOO Residential, Brigade Group

Gurugram emerging as winner

Looking at the increasing demand for homes from the NRI fraternity, DLF Home Developers Ltdis now preparing to enter markets like Mumbai and Goa.

Ohrinotes that among the six major metropolitan cities, at least four are currently witnessing record-high demand from NRIs, particularly in the luxury segment. “Notably, Gurugram has emerged as the youngest city with the highest demand and price realisations to date.”He adds, “The NCR region now boasts a high concentration of wealth from ultra-high-net-worth individuals (UHNIs), business families, industrialists, and NRIs.” Ravi Aggarwal, co-founderandmanaging director, Signature Global (India) Ltd.,has another observation. “According to recent World Bank findings, India received 14.3%of all global remittances in 2024 — the highest ever for any country in a single year. Nearly 7% of these remittances are invested in land, property, and securities. This growing interest in Indian real estate is driven by increasing confidence in the country’s economy and strong government backing for infrastructure development and the sector’s immense growth potential in leading cities,” he says. For Signature Global, Southern Peripheral Road and Dwarka Expressway in Gurugram have witnessed significant interest from NRIs. “Our premium projects, Titanium SPR in Sector 71 and Deluxe DXP in Sector 37D, Gurugram, are strategically located in these two key corridors,” he says.

Crisil House in Powai.

Crisil House in Powai.
| Photo Credit:
SHASHI ASHIWAL

Resilience during volatility

With its potential for stable returns and capital appreciation, property investment offers a sense of security and financial growth, making it an attractive option for NRIs seeking to safeguard and grow their wealth in times of volatility. “With the Indian economy projected to grow at 6.5% in FY 2025–26, the overall environment remains favourable for long-term investments. Continued implementation of RERA framework has helped maintain transparency and accountability, offering NRIs added confidence in project delivery,” says Shalin Raina, managing director, residential services, Cushman & Wakefield.

He further explains that another key driver of this momentum is the notable price appreciation — property values in key urban markets have risen by 20-30% over the past three years, making real estate a high-return asset. “In addition to this, the flexible payment plans offered by developers, especially in northern India, make the investment more attractive,” he says.

A view of the eastern seaboard of Mumbai

A view of the eastern seaboard of Mumbai
| Photo Credit:
Istock

According to an NRI who has finalised a house in Mumbai, the depreciation of the rupee helped him make his choice. “My wife and I live in the U.S., but we frequently travel to India for work. Eventually, we decided to buy a house. The home we bought was valued at ₹7 crore. We have also planned to retire in India. This helped me diversify my portfolio — and I felt it would fetch me a good return on investment,” he says.

Published – May 24, 2025 11:54 am IST

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Home & Garden

Co-living spaces: what young professionals want

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14 hours ago

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July 17, 2025

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The housing landscape has witnessed a paradigm shift due to the advent of fully managed rental accommodations and co-living spaces. This revolutionary concept is growing popular among millennials and Gen Z by offering a seamless, reliable, hassle-free living experience that resonates with their dynamic and modern lifestyles. Co-living players these days are leveraging technology to provide a customised rental experience. Reputable businesses oversee these spaces, ensuring end-to-end stay management and rent control, eliminating typical leasing hassles.

Always on the move

Regarding typical leasing hassles, today’s uber-digital generation places immense value on mobility. Reports indicate that millennials in India tend to stay in one city for approximately six months to two years before moving to new opportunities or experiences​​​. This high mobility is supported by the rise of co-living spaces that offer flexible lease terms, allowing millennials the freedom to move without long-term commitments.

Migratory millennials, who form 42% of India’s working population, are increasingly drawn to dynamic urban hubs such as Gurugram, Bengaluru, Hyderabad and Chennai, where career opportunities, cultural diversity, and vibrant social scenes abound. Recognising the diversity of the demand due to this gig economy, co-living spaces in these cities cater to various budget segments, from economical shared rooms priced around ₹20,000-₹25,000 per month to premium private studios costing up to ₹45,000 or more, depending on the location and amenities provided​​.

Furnished accommodation

With rising income stability and higher purchasing power, youth in metropolitan cities like Bengaluru and Gurugram lean towards high-quality, premium accommodations. As per a report, 51% of millennials in India are willing to spend more than 25% of their income on fully furnished and managed living spaces for a hassle-free lifestyle. In addition to convenience, these spaces promote a holistic lifestyle experience with opportunities to network with like-minded individuals through bespoke breakout zones such as in-house gyms, gaming zones, theatre rooms, and regular community events. This sense of community helps alleviate urban loneliness for migrating millennials and provides a true sense of home away from home.

For a tech-savvy generation

Tech integration is another compelling feature of co-living spaces that attracts today’s tech-savvy generation. From online booking and virtual tours to digital rent payments and maintenance requests, technology simplifies the renting process. Moreover, top-notch co-living players offer luxury features in their properties, including daily housekeeping, doorstep laundry, app-enabled living, 3-tier security, gourmet meals, concierge services, and high-speed Wi-Fi. With all these hotel-like facilities combined with the comfort of home, co-living properties are a perfect option.

According to JLL India’s report, over the next five years, the co-living sector is anticipated to grow at a compound annual growth rate of 17% to about ₹1 trillion. One must note that this shift is not just a fleeting trend but a substantial reimagining of urban living.

The writer is Co-founder and CEO, Housr.

Published – September 27, 2024 05:19 pm IST

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Emerging design brands to track

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July 16, 2025

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Over the last few months, we have been seeing international design trends mirror Indian concerns for upcycling and a focus on neutral, natural colours. Globally too, stone, especially marble is a favourite for its colour and textures, and it is often used in different ways — to create craft-forward pieces and monolithic forms.

In India, design studios have been using artisanal knowledge to create intricate inlays. Much of this was reflected at the recently concluded AD Design Show at the Karigar Pavilion, Mumbai, where Architectural Digest magazine had invited industry stars such as Vikas Soni, known for painting the interiors of Villa Palladio in Jaipur and Sonam Kapoor’s house in Mumbai. There were weavers from Kani Shawl Heritage, who set up a loom to fashion pashmina specimens in front of a curious audience.

But one of the popular showcases was an edit of 43 designers who work with different mediums, ranging from textiles and painting to metal work and pottery. Called ‘AD Discoveries’, it was spread across four rooms, and curated by interior stylist Samir Wadekar.

Komal Sharma, head of editorial content for AD notes, “The idea of discoveries was literally born from a section in the magazine called AD Discoveries, which has smaller stories about emerging brands, design news, and new launches.”

Wadekar was helped by an advisory board that consisted of B.V. Doshi’s granddaughter Khushnu Panthaki Hoof; co-founders of Kolkata-based gallery Experimenter, Prateek and Priyanka Raja; co-founders of Humming Tree, Arun Shekhar and Mohammed Afnan; interior designer Rajeev Saini; and Nisha Mathew Ghosh of architecture firm Mathew and Ghosh.

He notes, “For me, it was not about having the most recent pieces, but about showcasing what the brand is about or the brand’s aesthetic, or showing something that I thought people would find interesting.” Besides reaching out to designers (he credits Panthaki Hoof with being invaluable for her insights into Ahmedabad’s design scene and its textile artists), he also worked with some young brands such as Gradient India, Shed, Julia and Sita, and Studio Medium to commission custom works that he used to design four distinctive rooms. Hoof adds that she was keen to promote people who wouldn’t otherwise get a chance.

The challenge, Wadekar notes, was to create varied displays, which he managed by changing flooring, wall colours and displaying the work thematically.

We highlight five designers to have on your radar:

Araish Jaipur

Founded by Shivani Jadeja and Priyamvada Golcha, Araish Jaipur brings the traditional Rajasthani lime plaster technique to objects like vases and candles.

Shivani Jadeja and Priyamvada Golcha of Araish Jaipur

Shivani Jadeja and Priyamvada Golcha of Araish Jaipur
| Photo Credit:
Special arrangement

It’s no surprise that the production is in Jaipur and most of their designs are produced on order. Using natural dyes — such as palash flowers for yellow — they’ve honed a product list that’s easy to transport, given that most of their clientele are abroad. Products can be bought from their studio in Jaipur.

Gaurav Kanjerla, head of sales, explains that Golcha has always had craftsmen working to restore the 300-year-old home she resides in. Over three years of R&D, the duo has learned to take the lime plaster technique onto household articles.

Eikowa Studio

The journey from a gallery — and displaying others’ work — to creating her own, has been a fulfilling one for founder and creative head Vaishnavi Murali.

Vaishnavi Murali of Eikowa Studio

Vaishnavi Murali of Eikowa Studio
| Photo Credit:
Special arrangement

While she displayed a handmade brass-covered cupboard at the AD Design Show, Murali also works with concrete, paper, aluminium and other materials.

The studio was born out of necessity, creating customised artworks for the hotels and offices she consulted with. In the years since, she’s found that she has “passion in this space, and I got introduced to the world of craft that India has”. As a result, Eikowa now sees itself taking on a dual role, of promoting Indian artists, but also Indian crafts — across terracotta, ceramics, metalwork and more. They can be reached via Instagram @eikowa_studio

InOrdinary

Priyansha Jain, founder and creative director, states, “At InOrdinary, I’m interested in promoting functional art, which are one-of-a-kind functional objects.” She goes on, “We spend so much time with functional objects, so to find beauty in it and find meaning in it, seems like a good idea.”

Priyansha Jain of InOrdinary

Priyansha Jain of InOrdinary
| Photo Credit:
Special arrangement

The daily display at the design show changed because, as Jain says, “It presented the nature of InOrdinary and finding new objects in the everyday.” So over three days, the brand showcased everything from cups and candles, to placemats and trays.

Working with some of India’s most interesting designers, InOrdinary encourages them to rethink each object.

inordinary.in

Studio Medium

Panthaki Hoof highlights this New Delhi-based textile brand as one that she was excited to introduce to the AD audience. Studio Medium was founded by Riddhi Jain, an NID graduate who works in apparel and home textiles.

Riddhi Jain of Studio Medium

Riddhi Jain of Studio Medium
| Photo Credit:
Special arrangement

Alongside weavers, she takes traditional techniques and give them a contemporary design sense.

Detail on ‘The Saree’

Detail on ‘The Saree’
| Photo Credit:
Special arrangement

‘The Saree’

‘The Saree’
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Special arrangement

For the show, she created a custom tapestry, titled ‘The Saree’, a triptych made up of three interconnected pieces — skirt, pleat and pallav. The work aims to translate a 3D garment into a flat 2D form and like a saree, is about 5.5m long.

studiomedium.in

Studio Avni

Avni Sejpal, a trained architect, started her studio in 2011. In the years since she’s displayed at London Design Week and SaloneSatellite.

Avni Sejpal of Studio Avni

Avni Sejpal of Studio Avni
| Photo Credit:
Studio Avni

The tables on display at the show made use of cork and rubber that was originally in her workshop “for anti-vibration and insulation purposes”, to create a series of designs across tables, lamps and even vases, which are available online at studioavni.com.

Sejpal notes, “Cork is sustainable, and the material in the studio was already recycled,” and she was using it differently once again. Currently, she’s working with an array of materials such as metal mesh, PVC, concrete and textiles.

The writer is based in Mumbai.

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Home & Garden

Sustainable cooling tips – The Hindu

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3 days ago

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July 15, 2025

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Many parts across the country witnessed high temperatures during summer. A survey conducted in 10 Indian cities around that time revealed a spike in AC usage in Indian homes. About 70% claimed that the number of ACs installed in their homes had gone up in the last two years.

The appliance industry cheered the historic 50%+ growth. With AC penetration hovering around a meagre 10% in India, the growth story is expected to continue. The work done on electrification across the breadth and width of the country is ensuring that consumers can opt for solutions that enhance their quality of life.

The flip side of all this, however, is that ACs are energy guzzlers. In the same survey, 90% agreed that their energy bills had shot up over the last two years, and half of them confirmed that the summer bills are double their average energy bills. Estimates suggest that over 10% of India’s electricity demand is for cooling appliances, which is likely to increase manifold. In fact, reports suggest that India’s demand for electricity for running household air conditioners is estimated to expand nine-fold by 2050 — exceeding the total power consumption in the whole of Africa.

The only solution therefore is to adopt more energy-efficient cooling solutions. Home appliances with inverter technology and higher energy rating help reduce the overall power consumption thereby benefiting consumers as well as the environment at large. For example, using a 5-Star rated air conditioner instead of a 3-Star rated one can reduce annual power consumption substantially, saving over 25% in running costs for a 1.5 TR AC. The case for energy efficiency applies beyond ACs across other appliances as well. A 5-Star rated refrigerator can save over 45% in energy costs compared to its 2-Star counterpart.

Apart from adoption of higher star rated products, consumers would also do well by paying heed to the maintenance of their appliances. Regular servicing is seen to have a direct bearing on energy consumption. The survey revealed that 65% households use at least one AC which has not been serviced for more than a year. More than a fourth claim to service their ACs only if they face a problem with it.

To maximise the benefits of these energy-efficient appliances, consumers are well advised to follow the product usage instructions provided by brands and ensure its regular maintenance and servicing by authorised service providers. Periodic maintenance not only helps maintain the efficiency of the appliances, but also maximises its performance and prevents unforeseen breakdown incidents. Beyond this, simple practices, such as keeping doors closed and curtains drawn while using an AC, setting it at a comfortable 24 degrees instead of lower temperatures, using relevant features like the economy modes, sleep modes, timers etc. can make a significant difference.

The writer is Business head and Executive vice-president, Godrej Appliances.

Published – October 04, 2024 04:58 pm IST

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