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.
| 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
| 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.