NRIs be aware of few things when investing in Indian real estate
Generally, we see that many NRI investments are coming up in Indian real estate these days. Normally, NRI investments in Indian real estate are made in the investment perspective. Since investing in Indian real estate or properties would provide stable returns and are very safe to invest, many NRIs prefer investing here. But, the investment made over properties should be a right one for them without giving place for any issues like Amarprakash where no Amarprakash builders complaints exist. While in some cases the NRIs also invest money in Indian properties for their parents or their kith and kin residing in India, or to find a place to settle with their relatives and friends later on. Whatever it is NRI investment in Indian real estate market is beneficial to Indian real estate industry as well as to the NRIs.
There are few points to be known to the NRIs investing in Indian real estate industry. First of all, it is welcoming that there is no limitation to NRIs in investing money in properties in India. NRIs can invest in as many properties as they can with only one condition that the property they invest should not be an agricultural land or a property related to that type. They can buy properties through proper channels like remitting money through banks or through their NRE or NRO accounts that they hold in India. If you are an NRI willing to invest in Indian real estate, you can very well approach leading banks or financial institutions approved by National Housing Board in India. Generally, banks make the process of providing home loans to the NRIs easier by having their NRI services separately, where the NRIs can directly approach for home loans and get them processed immediately. If you are an NRI and invest in homes or apartments you can always rent your property in India without the approval of RBI, and the rent can obtained through your NRO or NRE account in India or can be directly remitted. Mortgaging the property is also possible, but, after it is approved by RBI.
Because of the support extended by Indian Government in liberalizing the rules with respect to NRI investments in India, availability of easy home loans, easy processes involved in home loan sanctioning to NRIs, IT and other business development in India, boom in the Indian real estate market, etc. there has been more and more NRI investments in India.
There are few points to be known to the NRIs investing in Indian real estate industry. First of all, it is welcoming that there is no limitation to NRIs in investing money in properties in India. NRIs can invest in as many properties as they can with only one condition that the property they invest should not be an agricultural land or a property related to that type. They can buy properties through proper channels like remitting money through banks or through their NRE or NRO accounts that they hold in India. If you are an NRI willing to invest in Indian real estate, you can very well approach leading banks or financial institutions approved by National Housing Board in India. Generally, banks make the process of providing home loans to the NRIs easier by having their NRI services separately, where the NRIs can directly approach for home loans and get them processed immediately. If you are an NRI and invest in homes or apartments you can always rent your property in India without the approval of RBI, and the rent can obtained through your NRO or NRE account in India or can be directly remitted. Mortgaging the property is also possible, but, after it is approved by RBI.
Because of the support extended by Indian Government in liberalizing the rules with respect to NRI investments in India, availability of easy home loans, easy processes involved in home loan sanctioning to NRIs, IT and other business development in India, boom in the Indian real estate market, etc. there has been more and more NRI investments in India.