NRIs want to buy property for their own use: Survey

Many NRIs thought of returning to India in the last 12-18 months because of the pandemic-induced challenges involved in their work, or in the life in general.According to CII-Anarock Consumer Sentiment survey—”At least 53% of NRI respondents who will buy properties in India in the coming months will look at the property for self-use, while 47% will consider buying for investment.”

• Download the survey report here on the ANAROCK website.
• This story is taken from Mint (source).

This is in stark contrast to the same survey done in 2019 when the ratio was 32:68. The top metros favored by NRIs are Bengaluru, Pune, Chennai and Mumbai. There was also higher demand for tier II and tier III cities, most notably Chandigarh, Kochi, Surat, Ahmedabad and Lucknow.

This NRI property investment sentiment is a good news for India’s residential real estate project owners. There are many upcoming housing societies that offer luxury flats and penthouses in Mohali Aerocity and on the Mohali Airport Road, including by JLPL such as Falcon View, Marbella Grand, The Medallion, and few more.