Important Points For NRIs For Real Estate Investment In India

Important Points For NRIs For Real Estate Investment In India

Buying a property is one of the best-proven investments that most people make. But buying a property is not an easy task. Before dealing in properties, one should do proper research and take advice from a trustworthy and genuine person or company. Many NRI is also investing in Indian property, but before, investing they should know the Important Points for NRIs For Real Estate Investment in India. Ashapurna Buildcon Limited is one of the famous Real Estate Developer in Jodhpur. They aim to provide the best housing solution at very affordable prices.  

NRI IS Investing In The Property In India

Many times you have seen that many of the NRI invest in property in India. NRI buy the property mainly for two reasons:

  1. They are so emotionally attached to India that they think that buying the property now will help them if they want to settle in India in the future.
  2. They buy property in India only for investment purposes. Most NRI buy the property and put them on rent to get a passive income monthly.
Important Points For NRIs For Real Estate Investment In India

Who Are NRI?

NRI basically means non-residential Indian. They are Indian citizen who stays out of India due to their jobs. They usually are a citizen of India but do not live in India.

Important Points For NRIs For Real Estate Investment In India

Ashapurna Buildcon is the Top Developer in Jodhpur and tells you every pros and cons before you invest in the property. 

Before buying a property in India, the NRI should be aware of some of the important points on which it will prove that their investment is a success or a nightmare. Below are some of the important points:

Property in which they can invest

NRI can invest in any immovable property in India except agricultural land, farmhouse, or plantation property. However, NRI can own agricultural land, farmhouse, or plantation property if the property is gifted or inherited.

Examine all the property documents

All the NRIs should check all the legal documents related to the property before buying it. This step is important for NRI because many buildings are built on agricultural land, and as mentioned above, NRI cannot invest in agricultural land. So to be legally correct, they must examine all the documents before investing in a property.

Mode of payment

While investing in real estate, NRI must pay through regular banking channels or Funds held in NRE/ FCNR (B) / NRO account maintained in India.

Important Points For NRIs For Real Estate Investment In India

Ways to invest in immovable property

An NRI can invest in real estate in various ways. Some of the ways are:

  • Direct purchase
  • Gift from a person living in India or from an NRI/OCI relative. (According to foreign exchange regulations, relative means husband, wife, brother or sister, or any lineal ascendant or descendant of an individual.)
  • By the way of inheritance.

Home Loans For NRI

Buying a house takes a lot of courage and money. If you want to buy a house in India, you can easily get a home loan for your dream of buying a home to come true. This service of loan is also granted to NRI who wishes to buy a home in India. You can avail of a loan of up to 80% of the property value. So if you wish to Buy Villa in Jodhpur, you can easily buy it without any burden on your shoulder.

Power of attorney

A power of attorney is a legal document that has to be duly registered to avoid fraud in the future. This document is nothing but a person who is making it, is duly assigned another person to act on his behalf when he is unable to act or is not in the country. When NRI invests in India’s real estate, he should authorize one power of attorney to deal with all the property matters when he is not in the country.

Important Points For NRIs For Real Estate Investment In India

Choosing a reputed and trustworthy builder

When you are an NRI and want to invest in India, you need to choose a reputed builder who can check the quality and status of the building when you are not physically present. Ashapurna Buildcon Limited is one of the reputed Real Estate Developer in Jodhpur who has been in the real estate business for almost 20 years. They have made a name in the town and have an experience that no other builder has.

Transfer of immovable property

An NRI can transfer his property or sell it whenever he wishes to. There is no obstacle for an NRI to sell his immovable property. But they have to sell or transfer it to either an Indian resident or an NRI/OCI.  And when he wishes to transfer the property by way of gift, the one he is transferring to should be a relative. Further, agricultural land, plantation property, or a farmhouse received by way of inheritance can be transferred only to Indian residents.

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