Puravankara Targets Dubai-based Indians With Properties at Home as NRI Deposits Swell
Realtor Puravankara has planned an international event this weekend to present projects to NRIs stationed in Dubai in an effort to capitalize on the growing interest among non-resident Indians in purchasing real estate back home.
Puravankara stated there is ‘certain interest’ among NRIs in buying a house they can return to, citing a significant increase in the amount of money in their accounts in 2023–2024. NRI deposits increased by 84.4%, from $6.40 billion to $11.8 billion, between April 2023 and February 2024, according to Group CEO Abhishek Kapoor.
In 2023, some analysts told Moneycontrol that escalating geopolitical concerns and real estate costs would encourage NRI investments from Dubai into Indian cities like Bengaluru, Pune, and Hyderabad.
Experts claim that the robust Indian real estate market provides superior capital protection compared to the US and European sectors, as well as the war-torn West Asian region.
