Non-Resident Indians have multiple investment opportunities in present day scenario in terms of real estate investment in India, savings and deposits. Provision of home loan and other monetary schemes have made investment procedure easy and convenient.
NRIs may migrate back to India or planning to invest in property. We take care of their Investments in immovable properties in India.
To appreciate the interest of NRIs in India's immovable properties, the government of India has come up with beneficial investment policies for the NRIs.
NRIs are facing many problems while buying and selling properties in India.
There are an estimated 30 million NRIs living in 130 countries and India retained the top spot in attracting overseas remittances, to a total $65 billion. But there are fears and problems in investing in an Indian property like land grabbing, tenants not vacating, chasing skilled manpower for maintenance and above all unscrupulous property deals.
Distance from actual property and being unaware of local laws are two major hindrance. Here's a list of major roadblocks and how to deal with them.
Awareness of law and rights: There are umpteen cases of NRIs being duped of their money by being sold farmland as residential property. As per the FEMA act, NRIs (or a person of Indian origin) can only purchase residential or commercial properties, but not agricultural land, farm house or plantation property.
Solution: Check builder's reputation:
Do a thorough check on every forum, including the state RERA website. Read all feedbacks and discussion. Check Land titles/construction permits/ approvals from authorities
Original Construction approval
Understand Construction milestones and payment slabs, Penalty in case of delay
Check Personally, if the property is fully finished AND as per specifications.
Going for a housing loan ensures money is safely released in installments and stages. Banks shortlist builders whose constructions are pre-approved and they are very stringent in checking every norm.