Non-Resident Indians (NRIs) are showing renewed interest in the Indian real estate market due to favorable government policies such as the amendment to the Foreign Exchange Management Act (FEMA), allowing NRIs to invest in Indian real estate without any restrictions. Additionally, the introduction of the Real Estate Regulatory Authority (RERA) act has improved transparency and accountability in the sector, making it more attractive to NRIs.
The luxury real estate segment has also shown resilience during the pandemic, with demand remaining steady. With the government's continued focus on infrastructure development and housing for all, the Indian real estate market is expected to continue to grow, making it an attractive investment destination for NRIs.
An observation by market experts states that NRIs are particularly interested in luxury properties, which offer higher returns on investment.
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Via: Financial Express
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