Analysts said a considerable momentum was visible in NRI bank deposits in India during FY24, particularly since May 2023
Indian NRIs
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Gulf region NRIs
India luxury real estate, holiday homes in crosshairs for Gulf-based NRIs
Investments from the GCC-based NRIs account for close to 41% of the global expat Indian contribution in India’s property market
India
Strong Dirham, rising demand pickup drive Gulf-based NRIs to invest in Indian property market
Expat Indians, especially from the Middle East, are now purchasing properties for investment purpose, rather than for end-users
expat remittances
Expat Indian remittances from Middle East set to surge as rupee totters around 80 against USD
India’s decision to amend certain rules related to the FCRA to allow residents to receive up to $12,644 – up from $1,264 earlier – from their expat relatives without informing authorities is also expected to add to the remittances flow
Anarock Group
Weak rupee, price discounts lure Gulf-based expat Indians to Indian property market in large numbers
Eagerness to own a house back home in the wake of the pandemic-induced uncertainties is also adding to the current demand spike from NRI buyers
Indian NRIs
Star Indian start-up founder Nikhil Kamath to woo cash-rich Gulf-based NRIs with new $200m India-focused fund
True Beacon II is to be launched next week and will have a minimum investment requirement of $1m