NRIS are turning out to be the biggest drivers of housing sales in the National Capital Region., in turn boosting the growth prospects of real estate as a whole.A latest CII - Anarock&nbsp; consumer sentiment survey shows that NCR (particularly Gurgaon and Noida) is the preferred choice of NRIs for housing investment along with Hyderabad and Bangalore. As many as 60 percent NRIs, mostly from countries like the Gulf, USA, Canada and various Asian countries want to buy homes in these three Indian cities.&nbsp; Over 20 percent of all NRI home buyers are inclined to invest in the NCR.Post- Covid pandemic, securing homes in India has become a priority for overseas Indians. They have been preferring&nbsp;bigger and spacious residential properties from the safety and privacy point of view. Because of this consideration, low-rise independent luxury floors of 3-4 bed rooms in gated communities , have gained popularity among NRIs.Despite hardening of interest rates, the depreciating&nbsp;rupee value against the US dollar&nbsp; gives NRIs a distinct advantage to invest in Indian residential property.As a result of all this, housing has seen a 15-20 percent increase in NRI demand in the first nine months of 2022, compared to the corresponding period last year. NRIs bought over 50000 of the 2.73 lakh homes sold in the top 7 cities during the January- September 2022 period. These included those NRIs who plan to shift to India. The enthusiasm shown by NRIs to buy residential property in India, bodes well for the growth of housing in the coming months.

NRIs to boost NCR Residential Realty