A
niket Chawla, a US-based techie in his mid-50s, has invested over ₹3 crore in a luxury flat in Bengaluru's Yelahanka area. He plans to use it as a second home until he returns to India. This is not an isolated case; many Non-Resident Indians (NRIs) from the US are investing in Bengaluru's real estate market, driven by factors like the depreciation of the Indian rupee and the strong dollar.

    A weaker rupee increases the purchasing power of NRIs earning in stronger currencies like the US dollar. According to real estate experts, US-based NRIs comprise a significant share of NRI transactions in Bengaluru's real estate market. They often book apartments while abroad and register them upon return.

    North Bengaluru remains a top choice for NRIs due to its proximity to the international airport. A survey by NoBroker.com found that North Bengaluru was the most popular investment destination, with 39.7% of NRI investments. The area's development, including the Bengaluru International Airport and Manyata Tech Park, has attracted major interest from NRIs.

    US-based NRIs prefer to invest in gated communities, particularly apartments priced between ₹1.5 crore and ₹4 crore. Some also opt for luxury villas, with 20-25% of NRI buyers choosing this option. These villas are often marketed as lifestyle products, offering not only the housing unit but also the land on which it is constructed.

    Experts attribute the popularity of North Bengaluru to its infrastructure development, including new metro lines and upcoming projects like the suburban rail and Peripheral Ring Road. The area's proximity to the airport and the presence of major MNCs have further increased traction among US-based NRIs.