Why NRIs prefer to invest in Mumbai’s Real Estate?
The continuously developing social infrastructure, robust living conditions, growth prospectus in terms of career, and ever-growing connectivity to major parts of the Maharashtra state has made the Mumbai Metropolitan region (MMR), one of the major investment avenues for the Non-Residential Indians (NRI) audience.
1 . Increasing FDI in India
The decreasing value of Indian Rupees (INR) against the US dollar has attracted a lot of Foreign Direct Investment (FDI) in the country. As per the reports by the Department of Promotion of Industry and Internal Trade (DPIIT), a huge $500 Billion FDI was recorded by the Indian economy during April 2020 and September 2020.
A major part of this investment was made in the real estate sector of India, especially the Mumbai Metropolitan Region. A prominent real estate developer in Mumbai like Runwal Group has helped the city become the frontrunner in facilitating robust social infrastructure to complement its metropolitan nature attracting a lot of attention from NRIs.
2 . Mumbai – A Rising Hotspot for Investment
Mumbai Metropolitan Region (MMR) is becoming demographically rich and a hotspot for NRI investment. Whenever people search for best investment in India for NRI, MMR is the top result on every search engine.
Plus, this is the best time for property investment in Mumbai as the city is poised to develop more in terms of a strategic location, upcoming social infrastructure, premier educational institutes, top-notch medical institutions, and leading retail destinations. Still, if we had to pinpoint the exact factors that make Mumbai an ideal choice for investment or the reason for increasing rate of NRI buying property in India can be classified below:
- Financial Capital of India –
- Plenty of Suburbs to Choose From –
- Ever-growing Developments –
Mumbai is known as the financial capital or the commercial capital of India with an unmatched cosmopolitan lifestyle that its residents get to enjoy. It entices people and helps increase real estate investment in Mumbai. It also promotes NRI investment in India as they invest from the perspective of settling in the country at a later stage in their life.
There are multiple locations that people can choose from to invest in Mumbai. Popular areas where NRIs like to invest are Thane, Mulund, Powai, Kurla, Bhandup, Chandivali and more. Plus, on the Western side, they get to explore Borivali, Andheri, Juhu, Kandivali and more. As there are no monetary constraints for NRIs for property investment in Mumbai, the premium locations of MMR like Juhu, Bandra, Nariman Point and others have been in huge demand.
Rapidly increasing infrastructural developments in the city like Navi Mumbai airport, Delhi Mumbai Industrial Corridor (DMIC), Pune-Mumbai Hyperloop project, Mumbai Trans-Harbour Link (MTHL) and Coastal Road project have played an integral role attracting huge investment opportunities from across the globe.
Despite the repercussions of the recent pandemic, the real estate space of MMR has observed a healthy demand from NRIs, who are interested in modern homes with eco-friendly features and have opted for residential projects for their end-use. This increasing demand levitates towards prominent real estate developers that are known for their good construction quality and timely deliverance.
Homebuying has become an experience and the real estate brands in Mumbai have grasped this concept. Rather, they are capitalizing on this fact and striving to deliver seamless or hassle-free services to the clients abroad.
And these are the reasons why NRIs want to invest in Mumbai, so that they can get hefty return on their investment in a location that is always bustling with populace that is like-minded, so when they return from their professional endeavours, they can feel at home and at ease!