Gurgaon a city in the state of Haryana being a hub for residential, IT/BPO and realty investments, Gurgaon has one more feather in its cap — the Millennium City is also known as an NRI Hub. Apart from NRIs everyone is looking to invest in this millennium city.
Let’s read some of the reasons that make Gurgaon real estate market a top choice for the NRIs:
- Proximity to the national capital
Usually, international investors choose locations that are proximate and close to the country’s capital. NRIs are no different. The property value in the capital and its nearby regions, like Gurgaon, is easy to track remotely. The success story of Gurgaon’s real estate development, capital value appreciation and how it made millionaires out of humble investors, have also gone global. That has generated more attention from investors.
The government has shown great interest in developing Gurgaon, be it connecting it to the national highway or flyovers that connect it to Delhi or the Metro rail. This is a good assurance for someone who resides abroad that the property values of the location will continue to remain stable if not appreciate.
- Luxury properties.
The cropping up of luxury projects in Gurgaon like 3BHK and 4BHK apartments, duplexes with premium amenities is also one of the reasons that attract wealthy NRIs looking for investment options. Some under construction projects in Gurgaon with a high number of uber-luxury condominiums are also sold to many NRIs through offices established abroad. NRIs are a major part of the target market for such properties. Availability of commercial and residential properties in the city also provides a wide range for NRIs to choose from.
- Good rental visibility.
Decent demand and visibility of rental earnings and their stable growth is yet another factor that attracts NRIs who would want great returns on the investment. Many property management firms in the area also insure a home owner of many challenges related with rental properties. The management firm will answer and fulfil all the queries of the tenant, make sure that no damage is caused to the property, and also keep the property rented without letting it remain vacant for long period. This kind of assurance makes it easier for a home owner to own and earn remotely.
- Likelihood of residence.
NRIs who have long-term plans of coming back to settle down in India desire to stay in the NCR. Property ownership in the area is like getting a step closer to realizing this dream.
A number of NRIs who invest in NCR have connections to Delhi. Most of them either have relatives or were educated in the city or have heritable connections that make them choose the city. Many Punjabis, who either hail from the city or from the state, prefer Gurgaon when they plan to buy a home.