Real estate is the most enticing option for HNI and NRI buyers who have surplus capital to invest. NRIs due to emotional connect with the country, more lucrative investment opportunities and availability of caretakers to protect their purchased property look at India as one of the best investment destinations. They find these investments as a means to protect their future and to make endowments for living when they would require coming back to their motherland and settling down here. Millennial NRIs have a typical way of looking at the real estate investments. They want the best of the bests to be suggested to them, in short, they are in search of luxury housing projects no matter where it is launched. The Bengaluru Real Estate market has flourished over the years, providing enticing options for all kinds of investors.
NRIs can be rooted back to many areas of India. Punjab, Tamil Nadu, Kerala, Gujarat are the top states from where people have moved to foreign countries for education, livelihood, better job opportunities and sometimes, just to have global recognition in their kitty. So, they show interest primarily in those cities, which offer them best quality of housing and better security of investment and professional assistance in handling real estate deals, irrespective of wherever their home town is. Metro cities of India, therefore, catch the attention of the HNI investors easily. Of all the metro cities, it is Bangalore and Bengaluru Real Estate where HNI investments are making new records.
The recent researches show that NRI investment in Bangalore has shown significant rise as compared to their investment in other cities. The reasons for this are many, but the most significant ones are:
- Cosmopolitan lifestyle: NRIs prefer real estate investment in Bangalore because of the cosmopolitan lifestyle this city offers. People from all castes, creeds, races and nationalities settle down at various residential pockets and seem to gel easily with the environs of this city. NRIs prefer living in the city that gives them a cosmopolitan feel and helps them settle down faster. Residents busy with themselves and all service providers using English as means of communication make it easy for NRIs with families to give similar environment as found in the foreign destination for their kids.
- Prevalence of luxury house segment: Most of the big cities in India have very restricted areas dedicated to luxury housing segment. The per capita income of the Bengaluru residents is higher than most of the cities of India. This figure tells that the buying capacity of the residents of this city is higher than other areas of the country. Thus, the builders find it easy to launch luxury housing projects in this city. Availability of numerous options in luxury housing segment allows buyers to shop more before finalizing the property.
The abundance of educated, well-read people amply exposed to luxurious and quality lifestyle makes it easy for the builders to sell high end properties studded with the best of the features within the Bengaluru Real Estate. Thus, the NRIs, searching for high class properties find it a wise option to make real estate investment in Bangalore.
- Well-developed IT belt: The IT field offers tons of opportunities to the people who want to make it big in their lives. Hefty pay packages and perks put IT people in the category of HNI (High Networth Individual) buyers. Since Bangalore is home to most of the best brands in IT sector such as Oracle, Infosys, IBM, etc. the city offers suitable home options for settling down, to the HNI segment. Thus, they prefer investing in real estate in Bangalore for personal use where they can enjoy living in their own homes while working in their dream companies.
- Availability of professional property manager and realtors: HNI or NRIs usually do not have much time to indulge in property dealings. Also, they may not be in the country at the time of the property deal. They need a professional dealer who can act on their behalf to complete the purchasing process. Also, most of them are keen on appointing a property manager who can take care of their property in their absence. In Bangalore, realtors have understood this requirement quite well. They help HNI’s and NRI’s with appointment of such dedicated property managers. Thus, a professional approach of realtors and availability of such supportive and trained representatives along with unique property management services makes NRIs and HNIs comfortable with the idea of investing in real estate within this city making Bengaluru Real Estate a much desired Real Estate investment destination.
The HNI investment in real estate Bangalore is also flourishing due to the same reasons mentioned above. This city is hot investment spot for actors, artists, top brass industrialists and other important persons of the society who can afford to have the best of everything in their lives. The city of Bangalore offers a whole lot of facilities to encourage HNI investments making it a favourable destination capable of meeting the expectations of people with HNI tag, and so, one finds numerous HNI investments happening in this promising city of India.
Parts of Bangalore City Where HNI investments are at top
Koramangla, Sarjapur, Indira Nagar, Whitefield are a few of the hot destinations for real estate investment in Bangalore for NRIs and HNIs. These areas have surplus options of independent houses, plots and villas and the rates of the property are around 25,000 per/sft to 35,000 per/sft. Areas closer to the International Airport are also looked upon as a lucrative area of investment for Bengaluru Real Estate because of the ease of moving out of the city without getting stuck in the city traffic.
Thus, the pros of Bangalore city to provide good jobs, better quality houses, and luxurious lifestyles makes it one of the favourite destinations for HNI and NRI investors. The other cities have a lot to do to catch up with the quality and opulence of this city to be able to provide quality investment options to the section of people with a higher buying capacity.