NRI Investment in Indian Real Estate: 2026 Statistics

How much money are NRIs sending to India in 2026?

More than ever. RBI's balance of payments data shows personal transfer receipts, mostly remittances from Indians working abroad, of US$42.9 billion in April to June 2026, against US$33.2 billion a year earlier. The previous quarter, January to March 2026, was US$43.5 billion against US$33.9 billion. That is roughly 28% to 29% year-on-year growth two quarters running.

NRI deposits are a separate channel. Net inflows into NRI deposit schemes were US$14.4 billion in 2025-26, slightly down from US$16.2 billion in 2024-25, and US$2.8 billion in April to June 2026. Deposits fell while remittances rose, which suggests more money is being sent to spend or invest rather than parked in NRE and FCNR accounts.

Neither series tells you how much ends up in property. RBI does not split remittances by use, and there is no official count of NRI home purchases. Anyone quoting a precise national rupee figure for NRI real estate investment is estimating.

What share of Indian property sales goes to NRIs?

There is no official national figure, and we have not found a 2026 market-wide estimate from a research firm. Anarock's older guidance was that NRIs accounted for 10% to 15% of total real estate investment, and in early 2025 an Anarock report cited by Rustomjee projected this would reach 20% by the end of 2025. Treat both as industry estimates.

Developer disclosures are firmer. DLF, the largest Gurgaon developer, said NRIs bought 23% of its sales in FY24, up from 14% in FY23 and 5% in FY22. In January 2026 its management told analysts that about 25% of its top line was NRI, with a further 15% coming from buyers elsewhere in India, for Gurgaon alone. In August 2026, DLF said 25% to 30% of business for The Dahlias was coming from outside Delhi NCR, including NRIs.

Other developers report lower shares. BPTP said about 10% of its sales came from NRIs, and Rustomjee put NRIs at 20% to 25% of its luxury sales in Mumbai, both in March 2025. The pattern is clear: NRI share rises with ticket size.

Which countries do NRI investors come from?

The US is now the biggest source of money. RBI's sixth remittances survey (for 2023-24) found the US sent 27.7% of India's inward remittances, up from 23.4% in 2020-21. The UAE was second at 19.2% and the UK third at 10.8%. Saudi Arabia, Singapore, Qatar, Kuwait and Canada follow.

The six Gulf countries together still sent 38%. But RBI notes that advanced economies have overtaken the Gulf, reflecting more skilled Indians in white-collar jobs abroad. For luxury property this matters: US, UK and Singapore-based NRIs tend to have the incomes for ₹3 crore plus homes, which is where Gurgaon's new supply sits. Industry reports cited by Business Standard name the US, UK, UAE, Canada and Singapore as the countries whose NRIs show the most interest in Indian real estate.

Which Indian cities do NRIs buy in, and where does Gurgaon stand?

Bengaluru, Delhi NCR, Hyderabad, MMR and Pune take most NRI property money, according to industry reports cited by Business Standard in March 2025, with Delhi NCR, Mumbai and Hyderabad dominating the luxury end. Anarock's survey found at least 75% of NRI respondents preferred homes above ₹90 lakh.

Gurgaon is the clearest NRI luxury market in NCR. At DLF's Privana West in Gurugram, nearly 27% of units went to NRIs. DLF's January 2026 comment that about a quarter of its top line is NRI money was made specifically about its Gurgaon sales. RBI's survey also shows Haryana's share of national remittances rising from 1.2% in 2020-21 to 2.9% in 2023-24, small but growing.

In our experience, NRIs buying in Gurgaon cluster in large-format, branded-developer projects on Golf Course Road, Golf Course Extension Road and Dwarka Expressway, where resale liquidity and property management are easiest to arrange from abroad.

How the rupee-dollar rate affects NRI property buying

The rupee has weakened steadily. On RBI's published FBIL reference rate, one US dollar bought ₹81.74 on 3 October 2022, ₹83.18 on 3 October 2023, ₹83.81 on 1 October 2024, ₹88.68 on 1 October 2025 and ₹95.99 on 1 October 2026. On 14 October 2026 it was ₹95.03. Between 1 October 2025 and 1 October 2026 alone, the dollar came to buy about 8% more rupees.

For a dollar earner, that is a discount. A ₹2 crore flat cost about US$2,40,400 at October 2023's rate and about US$2,10,500 at 14 October 2026, roughly 12% less, before any change in the flat's rupee price. Anarock's Anuj Puri made the other side of the point in 2025: NRIs exiting now get less back in dollar terms.

So the currency helps entry and hurts exit. If you are buying in rupees to hold for ten years or to live in, the weak rupee is a tailwind. If you plan to sell and repatriate in three years, a recovery in the rupee would help you, a further fall would not.

Rupee returns vs dollar returns for an NRI owner

Price growth in rupees is only half the story for an NRI. Anarock's data shows NCR's average new-home price up 12% year on year to ₹9,980 per sq ft in Q3 2026. Over roughly the same year, the dollar went from ₹88.68 to ₹95.99 on RBI's reference rate. Measured in dollars, an NCR owner's gain was therefore closer to 4% than 12%, by our arithmetic.

That is the honest way to judge an Indian property from abroad: rupee appreciation minus rupee depreciation, before rent, taxes and costs. Over long holding periods Indian property has usually outrun the currency, but in a year like this the margin is thin. In our view that makes Gurgaon strongest for NRIs as a home for parents or for an eventual return, with the investment case as a bonus rather than the whole reason.