Destination Investment: Top Indian Cities for NRIs to Invest in Real Estate and More

By LODHA

Whether you've made a home in the USA, the land of the free and brave, or live the charming European life, as an NRI, the word 'Indian' will always be an integral part of your identity. While you grow, personally and professionally, in another country, you'll find yourself spending a considerable time in India. From returning to your childhood home to visit family to setting up commercial ventures that contribute to the Indian economy, there are plenty of reasons for an NRI to make frequent trips to India. One of the more tangible ways to stay connected to your home country is to invest in it. 

As an NRI, you can invest in real estate and set up a permanent base for when you visit India. While it's not in use, you can put it up for rent to make additional income and diversify your portfolio. However, as an NRI, you might not have a finger on the pulse of the Indian real estate market. To help you make an informed decision, here's a handy guide on the cities most suitable for NRI investment in Indian real estate. 

Top Cities Where an NRI Can Buy Property in India 

India has always been a geographically vast country, and now the same can be said from an investment standpoint as well. With rapid development taking place across the length and breadth of the nation, there are plenty of cities that can serve as excellent NRI investment options in India. As a potential investor, here are the few cities that are best suited to buying property in India as a foreigner: 

Pune: The East's Oxford - Where Knowledge Meets Innovation.

As an NRI purchasing property in India, one of the first cities you should consider is Pune. Over the last few decades, the city has emerged as a fast-growing IT hub of India and is a significant contributor to Maharashtra's GDP. Pune has experienced a substantial upward growth trajectory in terms of infrastructure, connectivity and commercial activity in various industries. Similarly, the city's real estate landscape seems to be thriving and offers significant returns on investment. With government initiatives like the PMAY Scheme ensuring housing accessibility, the city has become highly livable, surrounded by esteemed educational institutions and healthcare facilities. As Pune gears up for infrastructural projects and an anticipated boost in employment opportunities, it stands as a lucrative hotspot for NRI real estate investments, blending economic vibrancy with a promising housing market.

Mumbai: The Financial Heartbeat of India

No list of the best cities in India for NRIs to invest in is complete without a mention of Mumbai, the city of dreams. Thousands flock to the city each day to fulfil their dreams and make a life for themselves and with good reason. With opportunity knocking at every door, Mumbai is truly one of the best investment options for NRIs in India. Popularly known as the finance capital of the country, Mumbai is ever-expanding and a real estate haven. Although real estate prices in the city tend to err on the higher end, it's also what can guarantee you substantial returns on your investment. 

With excellent infrastructure, educational institutions, hospitals, recreational avenues, and more in the pipeline, the city's future is bright. Showing ample scope for growth, investing in property in select areas of Mumbai can be a real asset to your portfolio.

Bangalore: The Silicon Valley of India

As the name suggests, Bangalore is synonymous with all things IT. Over the years, the city has carved a niche for itself as the hub for start-ups, major IT companies and giant corporations. With its ever-growing scope for expansion and progress, Bangalore should factor into your NRI investment plans in India. As more and more professionals migrate to the city, it is becoming known for not only employment opportunities but also high-end amenities that can improve your standard of living. With upcoming infrastructural projects that will streamline life in the city to an even greater extent, it is a contender for one of the best investments in India for NRIs.  

Thane: Gateway to Mumbai's Northern Charm

Over the last couple of decades Thane has managed to establish itself as a strong and stable force in the real estate sector. A city located just outside of Mumbai; Thane is known for providing residents access to everything the metropolis has to offer while living in the lap of nature. Even in the market, its proximity to Mumbai gives it great leverage points when it comes to return on investment. With its local economy experiencing a significant boom, it has become an excellent location to set up commercial spaces as well. As an NRI, the ample connectivity and existing and potential infrastructural developments like Thane Dombivli Link Road, Maha Samruddhi Mahamarg, metro lines and so on are sure to make Thane make Thane a prime investment location for you. 

Ahmedabad: The Rising Star in Real Estate Investment

Ahmedabad has emerged as a favoured destination for real estate due to its strategic location, robust infrastructure, and a thriving economic landscape. The city's accessibility, with an international airport and well-connected transportation network, coupled with its economic diversity spanning industries like textiles and pharmaceuticals, attracts professionals and businesses, fostering a demand for residential and commercial properties. Affordable pricing, coupled with a blend of modern amenities and cultural richness, positions Ahmedabad as a promising hub for NRI real estate investment, offering a harmonious mix of tradition and development. As the city continues to grow and prosper, investors find Ahmedabad to be a compelling choice for long-term returns and a balanced real estate market in India.

Hyderabad: City of Pearls

Hyderabad has earned a reputation as one of the most budget-friendly metropolises in India, primarily due to its low cost of living, particularly in the real estate sector. The city's top-tier infrastructure has attracted numerous prominent multinational companies to establish their offices here. Additionally, Hyderabad enjoys excellent connectivity, with two extensive national highway networks, NH765 and NH44, traversing the city. The state government has implemented user-friendly and transparent online services, streamlining processes for citizens and making tasks more efficient and accessible.

Kolkata: Cultural Capital of India

Famous for its delectable curries, enticing snacks, and irresistible sweets, Kolkata is emerging as a secure and cost-effective destination for real estate investment. With the city's ongoing development, its infrastructure is also expanding. The real estate prices in Kolkata are notably affordable compared to other major cities in the country, creating a thriving environment for new infrastructure initiatives and substantial real estate transactions. Consequently, Kolkata stands out as the prime choice for real estate investment in India, especially for non-resident Indians (NRIs).

Now that you have a better sense of the top Indian cities for NRI investors, you can pick wisely and ensure that you're always connected to your roots, emotionally and physically.