NRIs Find New Horizons: Investing in India's Tier-2 and Tier-3 Luxury Homes

In a noteworthy shift in investment patterns, Non-Resident Indians (NRIs) are increasingly channeling their real estate investments towards luxury homes in India's Tier-2 and Tier-3 cities. This move highlights a confluence of emotional bonding with India and strategic financial planning in a rapidly evolving real estate market.

Over the past ten years, cities like Mohali, Lucknow, Coimbatore, and Indore have emerged as economic and lifestyle hubs, drawing the attention of globally mobile Indians. Enhanced infrastructure and cosmopolitan living have made these cities attractive investment destinations, as stated by Umang Jindal, CEO of Homeland Group. Jindal notes that the demand is for exclusive homes offering premium living standards akin to those abroad.

The pandemic further shifted lifestyle priorities, with larger and wellness-oriented homes becoming paramount. According to Prateek Mittal, Executive Director of Sushma Group, Tier-2 and Tier-3 cities provide spacious, eco-friendly homes that appeal to NRIs' international sensibilities. Piyush Kansal from Royale Estate Group highlights the emotional and practical appeal of returning home without lifestyle compromises.

Moreover, the real estate sector has had to elevate its standards in response to NRI demands, notes Adish Oswal of the Oswal Group. Offering seamless services and future-ready communities, developers cater to NRIs' comprehensive lifestyle needs. This trend signifies a strategic and enduring interest in emerging cities, reshaping the luxury housing market landscape.

(With inputs from agencies.)