Non-residents of India or NRIs may live abroad to pursue a lucrative career or enjoy new cultures but their hearts are always in India. Their homeland is also one of the fastest-growing economies in the world. These sentimental and practical reasons are increasing NRI investments in the fast-growing real estate market of India. As per a few surveys Bangalore emerged as the most preferred destination for NRI investment.

Let us look at the many factors that are drawing this investment into the IT capital of the country:

1. Burgeoning IT industry

Bangalore is home to the largest IT MNCs of the world who have their country and regional headquarters in the city. It is common knowledge that the city has the highest number of software companies in the country and also the largest incubation center for start-ups. These reasons drive the real estate market too which makes the city a hub for the growth of the real estate industry driven by the demand for residential and commercial property. NRI investors looking for high return on their investment and stable rental returns can rest assured due to these factors.

2. Cosmopolitan culture

Bangalore is a melting pot of cultures as the residents of the city come from all over the country and the world. The city has adapted itself to meet the cultural, social, and economic needs of people from all cultures welcoming diversity. English being one of the most preferred languages of communication makes it easier for NRIs to communicate in the city. Also, those looking to settle in the city in the future feel safer to be living in a city that welcomes different cultures.

3. Prevalence of luxury housing

Bangalore has the highest per capita income in the country. Due to the high purchasing power of the city many luxury residential projects. NRIs prefer luxury housing options as these suit their needs and tastes. They offer the best lifestyle and amenities as desired by this segment of investors. There is a wide variety of luxury residential options to choose from in Bangalore.

4. Pricing

NRIs can invest in luxury and high-value properties as the currency exchange rates are in their favor. These properties become more affordable which allows them to invest in properties of higher value than those compared to the countries they reside in. As more properties are being constructed in emerging geographies NRI investors can pick and choose properties of their choice. NRIs can make most of the perks and incentives that many developers offer during the early stages of projects.

5. Tax Benefits

NRI investors enjoy exceptional tax benefits on their investments. There is no cap on the number of properties NRIs can own. They can thus invest in multiple properties and earn the benefits of property appreciation and rental income.Also, the regulatory framework protects the interest of NRIs from dubious and misleading entities. By following the RERA compliances, NRIs can rest assured that their investments are safe. They can easily manage their properties remotely.

These are some of the compelling reasons NRIs are investing in Bangalore real estate. The trend is expected to grow in the coming years as the sector continues to grow.