An increasing number of UAE-based non-resident Indians (NRIs) are looking to buy luxury homes in India, according to a new survey.
Conducted by Dubai-based Sumansa Exhibitions, the survey found 16 percent of the NRIs were looking to buy premium homes compared to 11 percent last year.
The price range of these apartments was put at between AED 406,220 and AED 534,500.
Thirty-eight percent of NRIs interested in buying property earned over AED20,000 a month, the survey said.
Mumbai was voted as the preferred investment destination followed by Chennai, Bengaluru, Pune and Hyderabad.
The survey, conducted amongst 15,000 expatriate Indians, said apartments were the favourite investment category followed by villas, commercial and land plots. Sixty-three percent of those surveyed showed interest in buying property in the next six months compared to 61 percent last year.