DLF’s NRI investment touches 23% of total sales in FY24, highest since FY21

Key NRI markets for DLF include the USA, Southeast Asian countries, Africa, and Gulf countries, but markets like Australia and Canada are also seeing strong traction.

Aakash Ohri, Joint MD and Chief Business Officer of DLF Home Developers Ltd, said that the share of NRI investment is growing “steadfastly” as DLF’s recently sold-out luxury housing project ‘Privana West’ in Gurugram witnessed around 27 percent sales bookings from the NRIs.

“Around 38 percent of the ‘Privana West’ sales were from the Indian diaspora in the United States, 30 percent from Southeast Asian countries and remaining from the Middle Eastern countries, Africa and UK,” he said.

He said that in the past two financial years, NRI contribution has increased from five percent to 23 percent. It is mainly driven by rising demand and proactive outreach across various markets throughout the year.

Steps to augment NRI investment

Ohri said that to further support NRI demand, DLF has established a dedicated NRI cell that assists them through the pre-launch, launch, and post-launch phases, ensuring a smooth and seamless process regardless of their location.

Also Read: NCR luxury real estate: Capital appreciation takes centre stage as rich Indians and NRIs ramp up investments

“While the USA, UK, Southeast Asia, and the Middle East have traditionally been strong markets, Australia has recently shown increased traction. We also plan to expand our reach to Canada and other markets gradually, with the USA remaining the highest contributor among international markets,” he said.

Ohri said that while Indian real estate has always presented vast opportunities for NRI investors, over the last three years, the company has seen a marked increase in NRIs investment in homes in India.

He added that historically, NRIs have been strong investors in DLF's residential properties, from plots to high-rises, not only in Gurugram but across the country in places like Panchkula, Chennai, Kochi, Lucknow and Indore.

Also Read: DLF's luxury residential project 'DLF Privana West' achieves Rs 5590 crore sellout in 3 days

Earlier this month, DLF had announced that it had sold out its latest luxury residential project, 'DLF Privana West,' consisting of over 700 flats and valued at approximately Rs 5,590 crore, in just three days. The project is nestled within Sector 76 and 77 in Gurugram. Prior to this, DLF had sold out its another luxury project ‘DLF Privana South’ in January 2024.