In 2023, the Indian economy experienced significant growth, culminating in a GDP of US$ 3.73 trillion and a GDP per capita of US$ 2,610. The strong performance in Q3 of 2023-24, with a GDP growth rate of 8.4 percent, underscores the resilience and potential of the Indian economy. India aims to reach a US$ 5 trillion economy by 2027, and this  growing Indian Economy is a major factor that makes investments in India more safe, rewarding and resilient to the changes in the global scenario. 

Hassle-free rewarding investment 

The streamlining of the real estate sector with a better and robust regulator framework has made it more transparent and attractive for NRIs who invest here with the definite confidence of better returns and property appreciation.  The Indian government has implemented policies which make it easier for them to invest in real estate. Simplified banking and investment procedures, lower home loan interest, favourable currency movement, transparent regulations and digitisation of procedures have removed many of the hassles previously associated with property purchase for NRIs. The Indian market offers properties for every investment bucket; affordability, high rental yields, and long-term capital appreciation are the compelling reasons that make real estate investments highly lucrative for the NRIs.

World-class amenities and facilities at home

Luxury living with modern lifestyle amenities at a much buyer-friendly price is now a reality in the India residential market. Sprawling gated community apartments in thriving areas of Chennai like the IT-corridor OMR in the happening hubs like Siruseri, Padur, Kelambakkam and the developing localities close to the pristine and green  Porur, and Thirumazhisai belt, offer a world of new-age amenities. These facilities are a major attraction for the NRIs who desire to enjoy the many amenities they relish in the foreign country. The fact that one need not compromise on the quality of life instead enjoy a more luxurious lifestyle at a much lower cost is a major attraction of the premium gated community apartments in the rapidly growing city of Chennai.

Easy property management 

Buying property and managing it is no longer difficult and stressful as there are many reputed property management companies in India, especially in the buzzing real estate hotspots of Chennai, Hyderabad, Bangalore and Delhi.  Right from virtual tours to scout the properties to registering with authorised POA, interior designing and furnishing the house, finding suitable tenants, collecting the monthly rent, handling the maintenance issues and addressing them on time, everything that is associated with property management is offered by these registered organizations. These services are even offered through apps available online through web-based platforms, making it extremely easy, hassle-free and cost-effective for NRIs to manage their properties from any corner of the world.

Staying connected to roots

India’s abundant cultural legacy and varied traditions hold a cherished spot in the hearts of NRIs. The festivals, languages, and customs contribute to a sense of identity and connection. As they grow older, the longing to be immersed in this familiar cultural environment intensifies. For the numerous Non-Resident Indians (NRIs) residing across the globe, retirement signifies an opportunity to re-establish connections with their roots and the emotional satisfaction of being in homeland close to their relatives is very profound. Being near relatives and long-time friends offers a feeling of belonging and solace that can never be experienced abroad. 

With employment opportunities growing in India and recession in other parts of the globe the highly qualified youngsters also see a very favourable scenario back home to grow in their professional life. The fiasco of young minds traveling abroad for better career opportunities is now waning and talented youngsters coming back home looking forward to better prospects is the new India.  No wonder the young stepping to their professional life and adults embracing retirement are eager to own properties back home.

Conclusion 

As the real estate market continues its massive growth, the role of NRI investors in shaping the industry’s trajectory becomes increasingly significant. Their confidence in the Indian market reflects positively on the country’s economic strength and resilience, as well as the overall appeal of the real estate industry which offers a wide range of investment opportunities. 

With its vibrant environment, cosmopolitan population, rich cultural heritage and modern outlook, the city of Chennai is a very rewarding and bankable market  for the NRIs, offering a diverse portfolio of modern amenity full apartments in sought-after IT hubs of OMR, the green and pristine surrounding of Thirumazhisai near the happening Porur. With Technology assisted buying and multiple property management alternatives home buying and maintenance is no longer a matter of concern and worry, the industry offers a very conducive environment for the growing interest of the NRI population. 

As an aspiring NRI if you are looking for the most dependable and highly rewarding asset, both monetarily and emotionally, the new age apartments in the city are the best bet. Scout for the best properties and harnessing the benefits of technology, book your future home with ease and no hassle. Earn yourself a safe investment, one that would give you and your family stability and satisfaction.