Tips for NRIs To Invest In Indian Real Estate

Wealthy NRIs have lots of surplus funds and Indian market has plentitude of options for investment. Many of the international countries like UAE (United Arab Emirates) & United States (US) have been one of the best trading partners of India and making adequate amount of investments in India.In India, you can choose from a bunch of investment options (real estate, financial products & commodity market) in various sectors, among which real estate sector has emerged as one of the most globally recognized sector. According to the future expectations, it is already proclaimed that real estate sector will arouse more NRI investments. Property prices in Indian real estate sector have highly appreciated in last five years. For overseas Indian, this is just a minute increase owing to the depreciation of Indian rupee against the foreign currency. Due to this, investments of Indian real estate sector have been more cost-effective and immensely lucrative. NRIs from Dubai can repatriate their huge amounts of money by investing in Indian real estate – The ‘homeland’ – which will give them a sentimental support and security.According to the FEMA (Foreign Exchange Management Act) and RBI (Reserve Bank of India), an NRI or person of Indian origin is allowed to purchase properties in Indian market and there is not even any restriction the number of properties, if it is not an agriculture land, farm house or plantation property. NRIs are allowed to obtain any property by the means of gifts or inheritance and they can even transfer those properties to any Indian resident by sale, whether it is an agriculture land, farm house or plantation property. Points to be considered at the time of purchase:Real estate investment is immensely lucrative and an easy option for an NRI to invest in, but carries some snags with it as well.  So, whenever any NRI is in the process of making the purchase, they have to be very prudent enough so that the deal can be secured and they should be careful about few considerations enumerated as here under:Property Name: According to the records, seller should have rights to sell the property and name of the property holder should be very clear from issues, especially if it is an inherited or a joint property.NDC: NDC (No dues certificate) is the mandatory document so that investor can be sure about no outstanding electricity/water bills or any other authority dues pending with the property.Bank release letter: If you are dealing with any mortgaged property, then it is advisable to take bank release letter from the concerned bank, so that you don’t face any problem in purchasing the property.Permits:  The selling property should be approved and have the entire permit from the civic department as this is the concerned department for construction.Always make a safe Deal…Finalizing a reputed property dealer is the prior selection procedure as firstly you need to ensure the authenticity of the property, which is free from lawsuits. So, whenever an NRI is starting the process of purchasing a property, he should always go through some credible channels as friends, relatives, property expos and seminars and then, you can finalize from the selective real estate developers only. Few developers take care of maintenance after the purchase as well.Earth Group of Companies offers wide range of product mix of residential & commercial spaces, shopping malls, IT/ITES Parks, hotels, farm houses, SEZs & mix use developments. It is visioned to become the most innovated and trusted brand in real estate sector by adopting state-of-the-art technologies, global trends and continuous innovation with a dedicated focus to deliver at par with best trends around the globe.