Buying a property is one of the best-proven investments that most people make. But before entering into a property purchase, it is important to do some research and consider the advice of an expert or company you trust. Many investors in India are looking for low-cost residential and commercial properties, as well as investing because of such increased attraction and living standards. Navkar City provides luxurious housing with great quality.
What NRIs Need To Know About Real Estate Investment In India?
There are two main reasons for which an NRI will invest in property in the country:
- They have such a strong emotional connection to India that buying this property now may provide them with an affordable option in the event they decide to settle there in the future.
- Indian property owners commonly buy properties in India only for investment purposes and then rent them out to get an ongoing monthly income from their investments.
Who are NRI?
NRI are Indian residents living outside of the country who maintain citizenship. The NRI is often an Indian citizen but not living in India.
Important Points For NRIs For Investing in Property
Navkar City is one of the best townships in Jodhpur where one can invest in real estate.
Before purchasing property in India, an NRI should familiarize themselves with the important factors to consider like having potential buyers. Some of these aspects are listed below:
Investment properties in India
Non-Resident Indians can invest in any immovable property in India, except agricultural land, farmhouse, or plantation property. However, Non-Resident Indians can own agricultural land, farmhouse, or plantation property if the property is gifted or inherited.
Check for property documents
NRIs should consider all documents related to the property they are buying before proceeding with the purchase. The legal documents of a property that is on agricultural land will tend to be different from properties built in other areas. As mentioned earlier, NRIs can’t invest in agricultural land.
Popular types of mode of payment
For financial investment in real estate, NRI should pay through normal banking channels or funds held in the NRE/ FCNR (B)/ NRO account.
Ways of investing
An NRI can invest in real estate in a variety of ways. Some examples include:
- Direct purchase is the best way to enter real estate investment in India
- Gifts from a person living in India or an NRI/OCI relative.
- By the way of inheritance, NRIs can invest in the Indian real estate industry.
Home Loans For NRI’s
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 loan is also granted to NRI who wish to buy a home in India. You can avail of loans up to 80% of the property value by taking one with this service. So if you want to buy villa in Jodhpur, you can easily buy it without any burden on your shoulder.
What is a power of attorney and why do you need one?
A power of attorney is a document that can help avoid fraud in the future. It allows someone else to act on behalf of the owner of the power. If an NRI invested in India’s real estate, he would need to authorize one power of attorney to deal with all property matters when they are not in the country themselves.
Choosing an experienced and reputed builder
When you want to invest in India while living abroad as an NRI, it’s important that you choose a builder who can provide trustworthy oversight of the construction process when you are not physically in the country. Navkar City is one of the top builders in Jodhpur and stands out with its experience.
Importance of transfer of immovable property
An NRI can transfer property or sell it whenever they want. There isn’t any obstacle when it comes to real estate, and they only need to transfer the property to an Indian resident or an NRI/OCI. But, when transferring property as a gift, the recipient should be a relative. Further, agricultural land, plantation property, and farmhouses received by way of inheritance can be transferred only to Indian residents.