NRI Investment in India: Should You Consider Investing in Mumbai?
India has been attracting NRIs to make their investments in the country for a long time now. And most of the NRIs have shown their interest towards Indian real estate because this sector is a consistent contributor to the Indian economy.
Mumbai is the financial capital of India and is among the top-growing metropolitan cities in the world. To an obvious astonishment, this city is also a thriving real estate hub for both Indians as well as NRIs.
If you have plans on making an NRI investment in India, especially in the real estate sector of Mumbai, then here are a few reasons to prove why it is the best investment decision you will ever make.
1. The Increase in Foreign Direct Investment (FDI) Within the Country
As the value of the Indian Rupees is decreasing against the US dollar consistently, it has attracted a lot of FDI investments within the country. As per the reports of the DPIIT (Department of Promotion of Industry and Internal Trade), there was a record $500 billion FDI within the Indian economy between April and September 2020.
A large chunk of this investment was made within the real estate sector of the nation, and the majority of it was in the Mumbai Metropolitan Region. There are several top property developers in the market who are facilitating the social infrastructure and real estate buildings to attract the attention of NRIs for investments.
2. A Rising Hotspot for Investment
MMR (Mumbai Metropolitan Region) is rich in terms of demographics and is an ideal hotspot for NRI investments. Being the financial and commercial capital of India, Mumbai boasts its cosmopolitan lifestyle that residents feel the pride to enjoy. It attracts people and convinces them to make a property investment in the city. Similarly, the NRIs also have a perspective of settling in India later in life, which motivates them to invest in an astounding property in the city.
There are plenty of suburbs available for the NRIs to choose from. For instance, NRIs can buy residential property in Vikhroli, Andheri, Chandivali, Borivali, Juhu, etc. As per the investment statistics of NRIs, they do not have any money constraints upon investing in Indian real estate. Therefore, they are also open to investing in the poshest localities of Mumbai, including Nariman Point, Malabar Hill and others.
Following that, the development pace of infrastructure in the city will never stop. Some recent developments that have gained the attention of potential homebuyers within India and the NRIs are Navi Mumbai Airport, DMIC (Delhi-Mumbai Industrial Corridor), MTHL (Mumbai Trans-Harbour Link), Pune-Mumbai Hyperloop and many more.
All of these developments and more intend to attract huge investment potential from not just Indians within the country but also from the NRIs.
3. Great Rental Yields
Most times, NRIs prefer buying residential property in Vikhroli,Borivali, Malad, Andheri and other such localities of Mumbai to earn rental yields. The property prices in the city are constantly appreciating, which also increases the rental demands among working and studying professionals.
With the new real estate policies in the country, it is easy for NRIs to invest in India by reducing stamp duty premiums. Moreover, RBI is also extending friendly policies towards encouraging foreign investments.
And Mumbai seems to be experiencing massive scale benefits in terms of attracting more NRI investments with such policy inclusions.
As per the financial year 2021, NRIs invested around $13.4 billion in the real estate market of India. Thus, this explains how crucial India is for NRIs with an expectation of high ROIs and a better living experience in the future.
So, if you are among the NRIs who want to scale your investments with the rising real estate trends in the City of Dreams, then Blox is here to help you. Irrespective of where you are, you can choose the specific area, developer, ideal budget and preferred property type to see all available options.
Whether you want an independent house, a villa or an apartment, you can filter out your search accordingly to find it easy to make an investment decision.