Bangalore, a city famous for work culture, IT parks, and high-rise buildings is now also considered to be a hot spot for NRIs who want to invest in real estate.
So what has led to this increasing demand?
The growth in socio-economic conditions, the cosmopolitan culture, the growing infrastructure, and the clean environment are giving the NRIs exactly what they are looking for.
In the last few years, Bangalore has seen to attract markets for almost all types of investors. When it comes to NRIs, they have unique ways to invest in real estate. They look for projects that are top-notch and in prime locations, and Bangalore seems to take the center stage.
Here are some more reasons why NRIs are investing more in the IT Capital of India.
1. Tax Benefits
When NRIs invest in the real estate sector of the country, they automatically become eligible for a lot of tax benefits. They do not have any limit to the number of properties they want to buy. This gives them the freedom to sell, rent or even lease properties. They can invest and get good returns on multiple properties.
2. Productive Environment
The implementation of RERA, the devaluation of rupees against dollars, various offers by developers, and the increased digital presence have pushed the NRIs for real estate investments. These are the kind of support that are helping the NRIs to take firm decisions of investing in their homeland.
3. A Gamut of Luxurious Options
The luxurious housing segment in the country as a whole is very few. But when it comes to Bangalore, the per capita income of the city is far more than many cities, one of the reasons why the buying power is more when compared to other cities. This allows builders to launch luxury projects in the city. This provides the NRIs with multiple options and faster decisions.
4. Center of Attention
North Bangalore is considered to be one of the best locations in the real estate market. The formation of the Kempegowda International Airport has resulted in huge infrastructure investment. Some other real estate hotspots of North Bangalore include Yelahanka, Hebbal, and Devanahalli. Places like JP Nagar and Koramangala continue to be the hotspots of South Bangalore. You can find independent houses, apartments, villas, plots, etc, in these areas.
Study believes that the NRI investment in Bangalore or in India as a whole is only seeing growth in the coming years. Top-class opportunities and a growing economy add to this process.