Why NRIs Prefer Ready-Made Furnished Luxury Apartments in India

NRI investments in the Indian real estate sector are surging high, with a preference for ready-made, furnished luxury apartments over traditional homes. This trend is driven by an emotional connection to their home country, a desire for solid and appreciating assets, and the allure of having a second home in India connected to their roots.

Among premium real estate developers catering to NRIs, Rustomjee stands out for its excellent quality, top-tier facilities, and prominent locations, redefining luxury living in India. Let’s delve into why NRIs prefer ready-made furnished luxury apartments and why Rustomjee is their top choice!

The Growing NRI Interest in Indian Real Estate

Real estate is seen as a stable and appreciating investment, providing a sense of security and the opportunity for long-term growth. Here’s why NRIs are investing in Indian real estate:

• Emotional Connection to Their Homeland:

Many non-resident Indians view investing in Indian real estate as more than a financial choice. Owning a property in their homeland instills a strong feeling of belonging, helping preserve strong roots despite their living abroad. Many NRIs seek properties in major cities where they grew up in or have family connections.

• Real Estate as a Stable and Appreciating Investment:

As you already know, the Indian real estate sector has demonstrated consistent growth. This makes it a profitable investment opportunity for NRIs, who see real estate as a long-term wealth-building strategy since property values in major cities like Bengaluru, Mumbai, and Delhi are gradually increasing.

Furthermore, India’s growing urbanisation and economy guarantee a steady demand for high-end real estate, promising consistent profits.

• The Desire for a Second Home in India:

Many NRIs intend to return to India at some point in their lives, whether for periodic visits or retirement. Owning an opulent and hassle-free home provides the comfort and convenience they desire. Instead of relying on hotels or rental accommodations during their visits, NRIs prefer having a ready-made home that caters to their sophisticated lifestyle.

Read Also: Why Kasara is a Prime Spot for Luxury Second Homes

Why Ready-Made Furnished Apartments Are Ideal for NRIs

Ready-made furnished apartments offer a host of advantages that cater specifically to the needs and preferences of NRIs, which includes the following:

• Convenience:

One of the ready-made apartments’ most significant advantages is that they eliminate construction-related inconveniences. Dealing with unforeseen delays, managing contractors, and supervising construction may be quite exhausting.

As a result, ready-made furnished apartments eliminate such concerns, enabling NRIs to purchase a complete house without worrying about overseeing every step of the building process.

• Time-Saving: Move-In Ready Properties:

In contrast to under-construction properties, ready-made apartments allow for instant possession. This removes the potential for delays and eliminates the waiting period, making them ideal choices for NRIs who want a quick and seamless transition into their new home. Whether for personal use or investment, having an instantly available property adds immense value.

• Luxury Amenities:

Furnished luxury apartments have top-tier amenities like fully equipped gyms, private lounges, swimming pools, concierge services, and landscaped gardens. These features provide NRIs with the best urban living, ensuring they enjoy the same comfort and luxury they are accustomed to abroad.

• Customisation: Interiors Designed for High-Net-Worth Individuals (HNIs):

High-net-worth individuals, or HNIs, have sophisticated tastes and premium ready-built homes are created to satisfy them. Rustomjee guarantees elegantly designed interiors with top-notch fittings and smart home technology. This degree of sophistication well meets the expectations of NRIs seeking a top-notch living environment.

• Low Maintenance:

Maintaining a property from a different country can be challenging. Ready-made furnished apartments require minimal upkeep, making them a hassle-free investment.

Furthermore, luxury apartment buildings frequently provide professional property management solutions, so NRIs can avoid the hassle of daily upkeep while living abroad.

Read Also: Why Prabhadevi is Home to Mumbai’s Most Luxurious Apartments

Benefits of Investing in Luxury Apartments in India

Investing in luxury apartments in India offers a multitude of financial and lifestyle benefits, which include:

• High Rental Yields from Premium Properties:

High rental demand for premium apartments in prime locations makes them a great passive income option for NRIs. In most Indian cities, rental yields for luxury apartments range from 2.5% to 4%, while those for mid-segment and affordable housing can reach 4% to 6%. Since luxury homes are more expensive, their absolute rental revenue is much larger even though their yields may be lower in percentage terms.

Luxury flats in Mumbai, for example, offer an average rental return of 2.5% to 3%, and high-net-worth individuals (HNWIs) and expats often show a strong desire for homes close to commercial areas and waterfronts.

• Potential for Long-Term Capital Appreciation:

Properties in key urban centres have shown a consistent upward trend in valuation. Residential property values in India’s biggest cities have increased by 10% to 15% each year, indicating the greatest pace of gain in ten years.

Luxury properties in Mumbai appreciated an annual growth rate of 11.5% as of September 2024. Similarly, Delhi’s luxury residential market experienced price hikes of up to 15% YoY (year-over-year). These trends illustrate India’s luxury real estate sector’s significant long-term capital appreciation potential.

• A Secure and Tangible Asset in a Growing Economy:

In contrast to the erratic stock markets, real estate is a reliable investment. NRIs prefer tangible assets like luxury apartments, which offer security, prestige, and long-term financial gains. With government initiatives like RERA (Real Estate Regulation and Development Act) ensuring greater transparency, NRIs’ confidence in Indian real estate has grown significantly.

• Lifestyle Upgrade with Access to Luxury Living:

Luxury apartments redefine living standards by offering residents a well-rounded experience. These homes cater towards an elite lifestyle and include amenities like business centres, rooftop decks, spas, and upscale clubhouses, which appeal to NRIs seeking comfort and sophistication.

Conclusion

NRIs choose ready-made furnished luxury apartments for various reasons, including convenience, high-end facilities, and long-term investment opportunities. As a leader in luxury real estate, we at Rustomjee continue to set benchmarks in quality, innovation, and customer satisfaction.

We provide instant possession, world-class interiors, and premium lifestyle amenities at prime locations, making our properties a perfect choice for NRIs seeking a hassle-free investment and unparalleled luxury living in India.

Explore Rustomjee’s furnished luxury apartments and take the next step towards a seamless and opulent investment today!

FAQs

• Are NRIs eligible for home loans in India?

Yes, NRIs are eligible for home financing in India, however eligibility requirements may differ between lenders. Typically, most Indian banks and financial institutions offer NRI home loans with a maximum LTV or loan-to-value ratio of 75-90% of the property’s worth.

The maximum loan amount an NRI can obtain varies depending on criteria such as credit score, income, employment status, and others.

• Are there any legal considerations for NRIs buying property in India?

Yes, NRIs must adhere to Foreign Exchange Management Act (FEMA) guidelines when buying property in India, restricting them to residential and commercial properties. Agricultural land, farmhouses, and plantations require special permission.

A Power of Attorney (POA) is needed if they are absent, and thorough legal checks are essential.

• How does Rustomjee cater to the needs of NRI investors?

Rustomjee meets the demands of NRI investors by providing properties in key locations with exceptional quality and attention to detail in construction. They also provide special facilities targeted to the NRI lifestyle, as well as a simple and straightforward purchasing procedure.