What Makes Bangalore Real Estate a Great Investment Option for NRIs?

The real estate sector has always been one of the favourites for the NRIs to invest in India. According to a survey in 2020, 65 percent of NRIs vouched for Real Estate rather than any other sector across the country. There is a reason for that and a very strong one, for instance, Most of the NRIs are not having permanent residence in other countries and they are working rigorously over there making themselves financially strong but with all that a feeling of having your home in your motherland is what drives them to invest in the real estate, most of the NRIs are into residential investments over commercial real estate investments in India. This pandemic has enhanced the reliability of real estate as an emotional and financial asset. During the lockdown, the sector has received increased interest from NRIs as many of them were planning to come back to their homeland.

NRIs are the major contributors to our economy, every dollar transferred to India in the form of remittances boosts our foreign exchange pools. India has put a cap over this remittance, $1 million is the limit and under this all the transactions related to property, other income and rents assign their place. With RBIs approval, this limit can be increased.Real estate firms have analyzed this demand for residential communities and are catering to this need accordingly. In Bangalore, many townships have been established just to attract NRIs and have come up with the best housing projects in Bangalore. In general, an NRI looks for a few aspects when he decides to invest in residential real estate:-

⦁ Enticing location

⦁ Higher Appreciation value

⦁ Realtor Availability

⦁ Luxurious living

⦁ Growth associated with the property.

Bangalore Real estate is the major attraction for NRIs because this is the only place in India where you can find a perfect blend of all these factors. Let us see how Bangalore has made its mark in the real estate market.

#1 Bangalore being the IT hub.

Bangalore is known as the Silicon Valley of India and is a hub for startups making it a source of employment for people and with this rapid growth it has become the centre for investment in different industries. NRIs will surely get high returns when they rent out the property. Also, renting helps in maintaining the property to be in good shape. Resulting in NRIs promoting renting their property or even giving it on lease. International brands are choosing India over china for their units and Bangalore is one of the prime locations for that set up which has increased its worth among other metro cities in India.

#2. Real Estate Players

Real estate firms across Bangalore are playing very smart and keeping themselves ahead in the real estate market by constantly innovating new ideas and implementing new development strategies. There has been an increased interest in ready-to-move-in projects that offer various world-class amenities and are renovated as per today’s work-from-home requirement. The northern Real estate giant MVN Infrastructure with its impeccable growth in Faridabad and Gurgaon has reached Bangalore to cater to the growing demand for townships with their dignified project MVN Aero One offering the best flats in Bangalore which will keep you on your toes.

#3. Government Norms

This post-pandemic has provided a sign of relief for the real estate sector with the government coming into play with their new declaration to lower down the interest on home loans, reduce in reverse repo rate, and extending the timeline of RERA. These initiatives have given enough confidence to the NRIs to invest in residential real estate and all of it will be sealed with strict regulatory measures and transparency. 3bhk apartments in Bangalore are available at much cheaper rates now because of the government initiatives and it is the right time for the NRIs or even the local people to come into the action and seal a deal of a lifetime.

#4. Bangalore’s Cosmopolitan Lifestyle

NRIs are inclined towards Bangalore because of the lifestyle and culture that this city showcases. People from diversified castes, cultures, and nationalities live under the pocket of this city. NRIs prefer living in the city that brings them a cosmopolitan feel and helps them settle down faster and also helps them to gel around. Residents native to this city and even the service providers using English as a means of communication make it easy for NRIs with families to get a similar environment as they experienced in foreign destinations for their kids. Educated, well-read people are in abundance in Bangalore and NRIs feel at home with such an environment.

#5. Luxurious Properties

Bangalore due to its huge area and rapid development gets an advantage of receiving innovative plans for real estate development. Not every city got the space to build luxurious townships for the NRIs but here in Bangalore firms like MVN Aero One are providing luxurious living space with all the world-class amenities. The major advantages of these townships are the proximity to Kempegowda International Airport and all the premium locations around the city.

#6.Realtor Availability

Most of the NRIs didn't have much time to visit their properties in India but to prevent them from any misuse or fraudulent practices they needed a manager or a realtor that could update them about their properties and what are the potential opportunities to invest. Bangalore has talented and faithful people who can easily perform that work and this allows the NRI’s to instantly finalize the deals related to their properties. MVN Infrastructure, a prominent name in the real estate industry with diversified townships in Faridabad and Gurgaon is gaining the attention of the NRIs with their emerging project MVN Aero One, designed as per the needs of NRI customers.

#7 Greater Returns

Bangalore compared to other metro cities offers much greater returns on investment because of the IT infrastructure and rapid developments. Everybody wants to earn profits and if any place is giving you that assurance, you will invest in that with the blink of an eye. Devanahalli is one of the areas in Bangalore that is soon going to be the pivot for growth because of the proximity with Kempegowda International Airport and BIAL plant which will be the largest IT hub in India. Devanahalli offers the best apartments to buy in Bangalore and will give you greater returns in the upcoming future.

Conclusion

The pros of Bangalore city to provide good employment, better quality luxurious houses, and cosmopolitan lifestyles make it one of the favourite destinations for NRI investors. The other cities have to pull up their socks to catch up with the quality and grandeur of this city to be able to provide quality investment options to the section of people with a higher buying capacity.