Non-resident Indians (NRIs) contemplating investments in luxury real estate valued over ₹20 crore must consider both the potential returns and the hidden costs associated with such assets. While luxury properties can appreciate, recurring expenses like maintenance charges, property taxes, and insurance can significantly impact net returns. For instance, Rahul Chaturvedi, a London-based NRI, invested ₹22 crore in a luxury apartment in Mumbai, with total costs reaching around ₹23.8 crore. Despite a steady appreciation of about 5% over five years, maintenance costs and currency fluctuations moderated his gains. Financial experts suggest that NRIs should adopt a long-term investment horizon, focusing on high-quality assets in prime markets, and stagger investments rather than committing large sums at once. Currency risks are also crucial; the depreciation of the Indian rupee can diminish returns when converted back to foreign currencies. Therefore, while luxury real estate in India remains an attractive option for wealth creation, investors must evaluate total holding costs and market conditions to make informed decisions.