Latest news with #Non-ResidentIndians
Business Standard
3 days ago
- Business
- Business Standard
The New NRI Address: Smaller Cities with Big Luxury Appeal
NewsVoir New Delhi [India], May 30: In a shift driven by both sentiment and strategy, Non-Resident Indians (NRIs) are increasingly directing their real estate investments towards luxury homes in India's Tier-2 and Tier-3 cities. This growing trend reflects not only a desire to reconnect with their roots but also a pragmatic approach to wealth creation, quality of life, and legacy planning. Over the past decade, smaller cities such as Mohali, Lucknow, Coimbatore, and Indore have quietly transformed into vibrant economic and lifestyle hubs. Well-connected airports, upgraded social infrastructure, and a rise in cosmopolitan living have made them attractive to the globally mobile Indian diaspora. "NRIs are no longer restricting their investments to metros," says Umang Jindal, CEO, Homeland Group. "There is a clear demand for larger, better-designed homes in cleaner, better-planned cities that offer a more balanced lifestyle. Many NRIs are emotionally inclined to return or maintain a strong presence in India, but their standards are global. They seek homes that mirror what they're used to abroad--not just in terms of luxury but also privacy, community, and wellness." While affordability compared to metro cities is still a factor, it is the value proposition and long-term livability that is drawing attention. "There's a marked shift in how NRIs perceive luxury in India," explains Prateek Mittal, Executive Director, Sushma Group. "They are seeking spaces that align with international sensibilities: open layouts, advanced security, eco-conscious design, access to facilities like Golf Course next to their houses and nature. Tier-2 and Tier-3 cities are uniquely positioned to offer this, especially as urban stress and congestion in larger cities continue to rise." Moreover, the pandemic has altered lifestyle priorities worldwide. For NRIs, the value of spacious, health-oriented homes in clean environments has soared. This shift has aligned perfectly with what many smaller Indian cities now offer. "Luxury today is more than just premium fittings--it's about space, peace, and purpose," notes Piyush Kansal, Executive Director, Royale Estate Group. "Many NRIs are seeing their hometowns in a new light. The blend of emotional belonging and practical advantages is too compelling to ignore. We're witnessing consistent interest from professionals who want a meaningful footprint in India without compromising on lifestyle." These buyers are not merely investing, they are curating a future. A home in India is increasingly seen as a long-term strategic asset: part retreat, part legacy. Developers are adapting, too, offering seamless digital experiences, flexible payment structures, and post-possession services tailored to the needs of NRI clients. "The growing NRI interest is pushing the entire real estate sector, residential as well as commercial, to elevate its standards," remarks Adish Oswal, Chairman, Oswal Group. "It's no longer enough to deliver just premium homes or commercial projects; NRIs today seek a comprehensive ecosystem that includes world-class commercial infrastructure, seamless service, and future-ready communities. This trend isn't just a passing phase, it's a strong signal that tier-2 and tier-3 cities are firmly positioning themselves on the global investment map." As India's growth story expands beyond the metro narrative, it's clear that the luxury housing segment in emerging cities is no longer a niche, it's a natural evolution. For NRIs seeking a return to their roots without compromising their lifestyle, Tier-2 and Tier-3 cities are the new definition of "coming home in style."
Fashion Value Chain
3 days ago
- Business
- Fashion Value Chain
The New NRI Address: Smaller Cities with Big Luxury Appeal
In a shift driven by both sentiment and strategy, Non-Resident Indians (NRIs) are increasingly directing their real estate investments towards luxury homes in India's Tier-2 and Tier-3 cities. This growing trend reflects not only a desire to reconnect with their roots but also a pragmatic approach to wealth creation, quality of life, and legacy planning. Coming Home in Style: NRIs Opting for Luxury Homes in Smaller Cities Over the past decade, smaller cities such as Mohali, Lucknow, Coimbatore, and Indore have quietly transformed into vibrant economic and lifestyle hubs. Well-connected airports, upgraded social infrastructure, and a rise in cosmopolitan living have made them attractive to the globally mobile Indian diaspora. 'NRIs are no longer restricting their investments to metros,' says Mr. Umang Jindal, CEO, Homeland Group. 'There is a clear demand for larger, better-designed homes in cleaner, better-planned cities that offer a more balanced lifestyle. Many NRIs are emotionally inclined to return or maintain a strong presence in India, but their standards are global. They seek homes that mirror what they're used to abroad-not just in terms of luxury but also privacy, community, and wellness.' While affordability compared to metro cities is still a factor, it is the value proposition and long-term livability that is drawing attention. 'There's a marked shift in how NRIs perceive luxury in India,' explains Mr. Prateek Mittal, Executive Director, Sushma Group. 'They are seeking spaces that align with international sensibilities: open layouts, advanced security, eco-conscious design, access to facilities like Golf Course next to their houses and nature. Tier-2 and Tier-3 cities are uniquely positioned to offer this, especially as urban stress and congestion in larger cities continue to rise.' Moreover, the pandemic has altered lifestyle priorities worldwide. For NRIs, the value of spacious, health-oriented homes in clean environments has soared. This shift has aligned perfectly with what many smaller Indian cities now offer. 'Luxury today is more than just premium fittings-it's about space, peace, and purpose,' notes Mr. Piyush Kansal, Executive Director, Royale Estate Group.'Many NRIs are seeing their hometowns in a new light. The blend of emotional belonging and practical advantages is too compelling to ignore. We're witnessing consistent interest from professionals who want a meaningful footprint in India without compromising on lifestyle.' These buyers are not merely investing, they are curating a future. A home in India is increasingly seen as a long-term strategic asset: part retreat, part legacy. Developers are adapting, too, offering seamless digital experiences, flexible payment structures, and post-possession services tailored to the needs of NRI clients. 'The growing NRI interest is pushing the entire real estate sector, residential as well as commercial, to elevate its standards,' remarks Mr. Adish Oswal, Chairman, Oswal Group. 'It's no longer enough to deliver just premium homes or commercial projects; NRIs today seek a comprehensive ecosystem that includes world-class commercial infrastructure, seamless service, and future-ready communities. This trend isn't just a passing phase, it's a strong signal that tier-2 and tier-3 cities are firmly positioning themselves on the global investment map.' As India's growth story expands beyond the metro narrative, it's clear that the luxury housing segment in emerging cities is no longer a niche, it's a natural evolution. For NRIs seeking a return to their roots without compromising their lifestyle, Tier-2 and Tier-3 cities are the new definition of 'coming home in style.'
Time of India
3 days ago
- Business
- Time of India
Where should NRIs invest—in India or abroad? These 5 principles will help you get your wealth creation on right path
NRIs should consider their end goals and financial objectives before taking a call as to whether they want to invest in India or in the country of their residence. NRIs face a complex decision when it comes to choosing between investing in India, driven by emotional ties and growth potential, or in their country of residence, offering stability and familiarity. A balanced, globally diversified portfolio is key, aligning with personal goals and mitigating risks like currency depreciation. Strategic planning, compliance, and professional advice are crucial for long-term wealth creation and preservation. Tired of too many ads? Remove Ads The Emotional Pull of India The Practical Appeal of Global Investing It's Not Either-Or—It's About Balance Tired of too many ads? Remove Ads Popular in Wealth 1. I am 55 years old and have Rs 50 lakh lump sum. How can I invest it to build wealth in 5 years? Tired of too many ads? Remove Ads Choosing where to invest their riches is a very personal and complicated financial decision for millions of Non-Resident Indians (NRIs). Is it wise to invest in India, a country with which you have a strong emotional bond and which is known for its future growth potential, or where one lives and makes money in foreign markets? This conundrum involves purpose, risk, and long-term planning in addition to you invest in Indian, there is a cost associated with emotional investing. The Indian rupee has depreciated nearly 4% annually over the last decade against the U.S. dollar. This erosion in currency value can substantially reduce global purchasing power, especially when future financial goals are international. Inflation in India, averaging 4-6% annually, further impacts real returns if investments aren't structured the other hand, investing in one's country of residence (abroad) offers regulatory ease, tax clarity, and exposure to mature financial markets. Developed economies provide stable investment vehicles such as retirement accounts, global ETFs, and government bonds, which are ideal for long-term, low-risk many NRIs hesitate due to unfamiliarity or limited access to cross-border advisory services. U.S.-based NRIs, for example, must navigate complex IRS regulations around passive foreign investment companies (PFICs) if they hold Indian mutual funds, often leading to hefty tax key insight is this: the debate shouldn't be India vs. abroad. Instead, NRIs must aim for a globally diversified, tax-efficient portfolio that aligns with their personal and financial financial journey must begin with clear, specific goals. Are you saving for retirement in India, your children's education abroad, or simply building long-term wealth? Your investment geography should mirror the end-use of your funds. Someone retiring in India would benefit from INR-linked assets, while those with dollar-denominated expenses should hedge against rupee to INR-based assets can amplify currency risk. A diversified portfolio—including Indian equity and debt, U.S. index funds, REITs, and FCNR deposits—can help mitigate this. Currency hedging tools and global mutual funds can also protect and grow compliance is critical. NRIs must avoid using resident accounts after changing their status. Converting accounts to NRO/NRE/FCNR and understanding FEMA rules are essential. Additionally, using Double Taxation Avoidance Agreements (DTAAs) and filing relevant paperwork like Form 10F and Tax Residency Certificates can help avoid unnecessary tax NRIs overlook the importance of liquidity. Real estate and fixed deposits might seem safe, but they lack flexibility in emergencies. Equally important is estate planning. Without an India-specific Will or nominee declarations, heirs can face prolonged legal battles and investment advice from friends or unregulated agents is risky. Instead, work with SEBI-registered financial advisors who understand NRI-specific challenges, especially those who can coordinate cross-border tax and investment has a lot of room to expand, especially in the infrastructure and equity sectors. International markets offer diversification and stability. NRIs should concentrate on building a portfolio that fits their financial goals, risk tolerance, and regional priorities rather than making a snap someone who counsels Indian families living abroad, my advice is straightforward: don't let convenience or feelings influence your investing choices. Let your objectives, regulatory requirements, and worldview inform a plan that genuinely creates and preserves wealth requires cross-border thinking in the modern world. In your portfolio, India and overseas may coexist; the secret is to know how to balance them properly.
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First Post
5 days ago
- Business
- First Post
Trump's remittance tax sours Indian view of US dream
President Donald Trump's 'One Big Beautiful Bill' includes a 3.5 per cent excise tax on remittances sent abroad by non-US citizens. India, the world's largest recipient of overseas remittances, received approximately $129 billion in 2024, with 28 per cent originating from the US read more The proposed legislation could tax remittances and dwindle the flow of money from US to India. AI-generated representational image The US House of Representatives narrowly passed President Donald Trump's 'One Big Beautiful Bill' on May 22, which includes a 3.5 per cent excise tax on remittances sent abroad by non-US citizens and non-nationals. The proposed legislation, if approved by the Senate, could significantly impact millions of Non-Resident Indians (NRIs) in the United States, many of whom regularly send money to family members in India. Under the bill, individuals on H1B, L1, and F1 visas, as well as Green Card holders, would be subject to the tax starting January 1, 2026. For instance, a $1,000 transfer to India would incur a $35 tax, reducing the amount received to $965. The tax cannot be offset against federal or state taxes and is in addition to any existing taxes paid. STORY CONTINUES BELOW THIS AD India, the world's largest recipient of overseas remittances, received approximately $129 billion in 2024, with 28 per cent originating from the US, according to the World Bank. The Global Trade Research Initiative (GTRI) warns that the new tax could decrease remittances to India by 10-15 per cent, representing a loss of $12-$18 billion annually. Additionally, Trump's administration has tightened immigration rules, significantly limiting international student admissions and imposing stricter conditions for work visas. These combined measures have led some Indian nationals to reconsider plans for studying or working in the US. Strained India-US relations The move, combined with restrictions on international students and critical comments on India-Pakistan issues, is straining US-India relations. President Trump has claimed credit for brokering a ceasefire between India and Pakistan following escalating tensions earlier this month. He stated that US intervention prevented a 'bad nuclear war' between the two nations, asserting that trade negotiations played a key role in de-escalating the conflict. However, Indian officials have refuted these claims, emphasising that the ceasefire was a result of direct military-to-military communication between India and Pakistan, without third-party mediation. India's Ministry of External Affairs reiterated that the understanding was reached bilaterally and warned against external narratives that could misrepresent the situation. The combination of the remittance tax proposal and contentious statements regarding international diplomacy has led some Indians to reconsider plans to study or work in the US, potentially affecting long-term bilateral trade negotiations and diplomatic relations. With inputs from agencies
Hans India
5 days ago
- Business
- Hans India
US-based industrialists laud ‘CM Prajavani' public grievance system
Hyderabad: American industrialists Robert Hull, Sreex Sugood, and Charan Gunti today visited Telangana's 'CM Prajavani' at Mahatma Jyotiba Phule Praja Bhavan on Tuesday, and expressed strong approval for its efficient system of quickly resolving public issues. The delegation observed how applications are processed, explored the help desk, and specifically reviewed the 'Pravasi Prajavani' desk, which is dedicated to addressing concerns of Non-Resident Indians (NRIs). During their visit, CM Prajavani In-charge Chinnareddy provided a detailed explanation of how the programme operates, showcasing its streamlined approach to public service. The American visitors also held a meeting with State Nodal Officer Divya. They concluded that CM Prajavani effectively resolves people's problems and highly praised its overall performance. To mark the occasion, Chinnareddy honored the American industrialists with a shawl.
