[INDIA REAL ESTATE NEWS] Good morning everyone I am Rumi Dhar from Kama Group.|
Here I have important INDIA real estate news to share with you which is as mention under.
NRIs returning home could add to potential demand for commercial spaces
The Covid-19 crisis that impaired realty sentiment in major cities could prove to be an
opportunity for certain small towns.
The economic meltdown has resulted in job losses across the globe and made sustenance
difficult for many immigrants, with their relatives in India coercing them to return to their
hometowns. This trend is likely to spike residential demand in tier II and tier III cities, say
The Non-Resident Indians (NRIs) category is expected to be another huge draw, say
developers, with many NRIs returning to their homeland due to dwindling job prospects,
especially from the US and EU countries.
Sachin Nagpal, Spokesperson, GBP Group said the pandemic has made people more inclined
to stay closer to their hometowns. “With people moving back to their hometowns in smaller
cities due to Covid-19, the demand for organised housing is set to rise in tier II and tier III
cities. Along with the housing segment, reverse migration is bound to attract investors to
these smaller cities offering them good returns and further stimulating demand for
commercial spaces including office and retail spaces,” he said.
Read more at: https://www.thehindubusinessline.com/news/real-estate/reverse-migration-could-spike-realty-demand-in-smaller-towns/article31776582.ece
Have a nice day