From a sharp increase in NRI sales at DLF projects to a noticeable decline in the average age of first-time homebuyers, Ohri highlights how younger, globally mobile families are increasingly prioritizing premium and ultra-luxury homes in India, signaling a structural shift in global buyer behavior. Edited excerpts:
Q) How do global investors view India compared to other emerging markets?
A) Global investors increasingly see India as a story of structural growth, strong domestic demand, resilient macro fundamentals and improving institutional frameworks.
Compared to many emerging markets, India offers scale, demographic tailwinds and city-level demand for world-class real estate.
That said, investors are critical: they prefer clear governance, project delivery and visibility of returns.
That preference is why organized, long-standing developers who can demonstrate delivery, compliance and asset management, not just land speculation, are winning more and more global capital.
Q) How has NRI interest in Indian residential real estate changed post-pandemic? Are NRIs buying more for personal use, retirement planning or investment-based returns?
A) The NRI’s interest has become both broader and deeper. At DLF, we have seen NRI sales rise sharply over the last three financial years, from approximately USD 240 million in FY23 to USD 408 million in FY24, and further to approximately USD 421 million in FY25, indicating not only growing global confidence but also a shift towards long-term ownership.This momentum has continued into FY26 where NRI buyers accounted for over 27% of sales during the launch of DLF Privana North. Demand was equally strong outside NCR; in Mumbai, our debut project, The WestPark in Andheri West, saw around 20% of total buyers coming from the global NRI community, largely Mumbai families purchasing premium homes.
Motivations today include self-use and lifestyle upgrades, retirement or second home planning, and investments for rental yields and appreciation, but what defines the current cycle is that purchases are no longer speculative; NRIs are opting for high-end developments for long-term residence and generational ownership.
Since the pandemic, we have seen the average age of first-time homebuyers fall by almost a decade, with many now in their early 30s, while luxury buyers are increasingly in their 40s and ultra-luxury buyers often start from the same age range, supported by dual-income households, high disposable incomes and wealth creation through entrepreneurial activity.
With India’s strong economic growth, improved credibility and renewed confidence in real estate as a safe asset class, NRIs are more focused than ever before on investing in DLF projects.
In response, we have significantly expanded our offerings to deliver unparalleled lifestyles, hospitality-based amenities and globally benchmarked living experiences that resonate deeply with this evolving buyer segment.
Q) Which Indian cities are currently the best choices for NRIs investing in housing and why?
A) Across the global NRI hubs, we continue to see exceptional interest in Indian luxury homes, and the demand has now expanded far beyond the traditional metropolises.
Gurgaon remains the most preferred destination for NRIs, especially for luxury and ultra-luxury developments, driven by strong capital growth, stable rental yields, world-class social infrastructure and a large community of returning Indians.
However, over the past few quarters, we have seen Gurgaon and Mumbai very quickly emerge as top-of-mind choices, especially among NRIs originally from the city, who are now prioritizing a ‘home anchor’ in India.
This sentiment was clearly borne out by the overwhelming response from the NRI to our launch in Mumbai. Delhi and NCR continue to perform exceptionally well among Indian buyers globally, partly because of family and emotional ties, but equally because of the consistency of lifestyle and asset quality that integrated luxury townships offer.
We are also seeing increasing interest in Goa, Kochi and Panchkula, where NRIs are looking for lifestyle-oriented homes that can serve as long-term vacation homes or future retirement addresses.
In many ways, the NRI buyer today is evaluating Indian luxury markets not just from an investment lens, but from a long-term life planning perspective, and cities that offer global living standards, community, safety, air quality, healthcare, education and a sense of belonging are leading the demand cycle.
Q) What role will rental yields, retirement planning and “back to roots” sentiment play in future demand?
A) Rental yields remain the most compelling driver of NRI demand, especially in luxury gated communities where rental premiums and capital growth have been exceptionally strong.
Post-pandemic, preference for luxury apartment complexes that offer security, privacy, lifestyle amenities and seamless daily conveniences has increased significantly; qualities that translate into a consistently high occupancy rate and robust rental income.
The performance of developments like DLF The WestPark and Privana North, each of which sold out within days, has boosted NRIs’ confidence in real estate as a reliable income-generating asset.
In addition, retirement and second home planning is steadily increasing as NRIs look for safe, fully equipped homes for extended stays in India. A parallel emotional shift, the desire to reconnect with roots, build a family base and spend more time in India, is also driving demand.
Q) Are younger NRIs buying earlier in their careers than previous generations?
A) Yes, we clearly see younger NRIs buying much earlier in their careers than previous generations. Since the pandemic, the average age of first-time homebuyers has fallen by almost a decade, with many now buying a home in their early 30s, rather than waiting until their mid-40s or later.
This shift is driven by higher disposable incomes, dual-income households, and wealth created by global careers and entrepreneurial activities.
The luxury segment in particular benefits from this young, financially confident demographic that is prioritizing lifestyle, asset creation and long-term relationships with India much earlier in life.
Many of these buyers are buying not just for investment but also with the vision of building a family base in India.
Existing NRI homeowners, meanwhile, are upgrading to more premium or ultra-luxury properties as capital previously allocated to other asset classes is now actively shifting to real estate. This younger, forward-looking homebuyer profile is one of the biggest structural shifts shaping demand for NRIs today.
(Disclaimer: Recommendations, suggestions, views and opinions expressed by experts are their own. These do not represent the views of The Economic Times.)
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