'US-Based NRIs On Buying Spree Ahead of Their Return to Hyderabad'

RV Nirmaan MD links the purchases in his projects to uncertainty over the US immigration policies.

RV Nirman MD Cheruku Ramachandra Reddy. (Supplied)

KING JOHNSON KOYYADA | KOLKATA

Uncertainty over US immigration policies, including H1B visas, is prompting some Non-Resident Indians (NRIs) to reconsider their plans to stay in the United States. Ahead of a possible return, some are already buying homes in Hyderabad, says Cheruku Ramachandra Reddy, National Joint Secretary of CREDAI and Managing Director of RV Nirmaan.

Ramachandra Reddy reveals that his company has been witnessing a rise in demand from NRIs who are planning to relocate in the next two to three years, as well as from those who have already bought apartments.

“Several NRIs are planning to return to Hyderabad, and some have already purchased homes from us. Even those who intend to relocate within the next 2-3 years are investing in apartments,” Reddy told Property Pulse on the sidelines of CREDAI NATCON 2026 in Kolkata.

He also points out that the growing interest is one part of a wider change in how homebuyers assess projects and make decisions. Hyderabad’s residential market has seen uneven sales, while prices in some segments have shown limited appreciation over the past 1-3 years.

The CREDAI National Joint Secretary believes new launches have spread sales across more projects. He says buyers are examining project planning and suitability more closely.

Further, the NRIs are evincing interest in medium-rise developments with fewer than 20 floors and lower housing density. Three-bedroom apartments are also finding buyers more readily than some two-bedroom units, according to his experience.

Genuine buyers are now taking less time to decide than they did in 2023, when the process often took 4-6 months. Indeed, many decide within 1-2 months.

He notes that the first half of 2026 was better for his business than the corresponding period last year.

Also Read: CREDAI Highlights Real Estate’s Role in Shaping India’s Next Phase of Growth

Construction Cost & Labour Crunch

The MD of RV Nirmaan estimates that the overall construction expenses have increased by 15–20 per cent over two years. He puts the rise in steel prices at around 20 percent, and increases in PVC, copper and aluminium at 15–20 percent.

Some other materials have risen by about 10 percent. Shortages of shuttering workers and electricians are also affecting schedules and procurement. These figures reflect his estimates and company experience, not a market-wide cost survey, he observes.

Beyond Established Hubs

Ramachandra Reddy says developers are exploring locations across Hyderabad for land and different price points. He points to large residential projects in North Hyderabad, villa developments in the South, and projects around Patancheru, with the Outer Ring Road supporting connectivity.

RV Nirmaan's projects include the second phase of RV Sai Vanamali in Miyapur, a project nearing completion in Kondapur and handovers at Karmanghat.

At Raviryal, it is developing 168 villas on 20 acres, with handovers planned by the end of 2027.

The company is also building 248 apartments at Kismatpur and developing a 14-acre layout at Keesara Bhogaram.

Comparing Hyderabad with Kolkata, Ramachandra Reddy notes that builders in some prime Kolkata locations quote ₹30,000–₹35,000 per square feet for high-rise apartments. Hyderabad remains relatively affordable by comparison, he says, though prices vary by location and project.

Meanwhile, the sessions at the CREDAI NATCON 2026 also explored artificial intelligence and virtual walkthroughs for real estate marketing, which Ramachandra Reddy says could offer developers new ways to present projects to buyers.