A survey report by Anarock shows that Chandigarh, Kochi, Surat, Ahmedabad, and Lucknow are favourite among tier 2 & 3 cities among non-resident Indians who are looking to buy residential properties in India. The IT hub Bengaluru remains the top choice followed by Pune and Chennai.
This story is taken from ET Now News (source). Few more findings from the survey are:
- Demand for bigger homes: At least 48% NRI respondents preferred larger homes of 3BHK configurations (more than 1,500 sq. ft.) while 28% favoured 2BHK formats. A significant 24% mentioned that they prefer 4BHK apartments or even bigger size for their new homes.
- Select real estate projects: The real estate owner credibility is the top priority for most NRI respondents. Although RERA brings some assurance for the project delivery, the NRIs are out of synch for the ground realities of the market developments such as the factors that might delay the construction and delivery. So, they tend to select the developers based on their history of successful projects in time, the market reviews and customer sentiment in general.
If the survey suggests that Chandigarh is their second preference, this is a good news for the commercial real estate owners and the residential projects’ owners in Mohali Aerocity and on the Mohali Airport Road. This is a fast growing business hub in the region as many national and international brands are establishing their operations in this region. If you are looking for a home or a commercial property, contact Tick Property for our consultancy services.