Whether the real estate sector continues bullish or bearish, NRIs favour a place back in India – not only for investment returns but also to remain grounded in their country of origin. Earlier, NRIs had every reason to be leery of the Indian real estate market.
Today, game-changing policies like GST and RERA have now boosted confidence and transparency as well as streamlined the property-buying process for NRIs. This has started fuelling fresh NRI investments into the Indian property sector.
The fact that the rupee cost against dollar depreciated in 2018 was also a solid reason for NRIs to see Indian real estate more favourably. And, of course, real estate developers have been offering considerable freebies and even discounts, apart from exciting payment plans, to attract NRIs as well as domestic property buyers to their projects.
Mindful of the importance of raising more positive sentiment for NRI investments into the country, the Government also relaxed norms to promote a more streamlined and less cumbersome property buying process for NRIs.
As Indian real estate once again becoming an attractive proposal, NRIs who are interested in buying a property in India need to equip themselves for making the best-possible property purchase decisions.
This includes understanding the regulations and processes associated with Indian real estate purchase by NRIs and also understanding what they can logically expect from such investments.
Here’s a list of quick reality check’:
- Understand FEMA Regulations
- Understand Returns on Investment
- Understand NRI Property Payments
- NRI Home Loans in India -Sanctioning and Disbursement
- Understand the Documentation
- Understand Income Tax Benefits and Compliances
- Using Property Consultants
There is no restriction on the number of properties that NRIs can own in India. Both residential and commercial Indian real estate hold good investment options for NRIs.
Read More: Realty check for NRIs investments in Indian real estate sector