Most of Non Resident Indians is working very hard across abroad,
saved all the capital and now looking for investment in the country. One of the
extreme Indian dreams is to purchase a dream house in the country. A home in
the country is very vital to live with their parents and friends. Depreciation
of the rupee has driven the demand of real estate investment by NRIs in their
motherland. Over the years, Indian law has advanced and made this as very silent
easy job. The reserve bank of India is undertaking with such transactions and
property acquisitions are governed by foreign exchange management act. NRIs
must be very clear before investing in the realty sector. They must be aware of
genuine benefits, available several options and procedure to undertake.
Which type
of lavish properties NRIs can purchase?
They can
buy any type of property like a residential and commercial property exception
of Farm houses, Agricultural land and cultivated area even, he cannot receive such
a lavish property as a precious gift. There is no requirement of any permission
with RBI.
How about
the financial Options?
As
of today, there are several financial options, which are appropriate to
purchase a lavish property in the country. The RBI has fixed some norms for
NRIs. The home loan for NRIs is constrained to utmost 80% rest should be borne
directly by NRIs and interest rate will be very high. Payment can be done directly from the current
residence through normal banking Like NRO/NRE.
How to
acquire a safe deal-
Sometime, NRI may feel quite awe-inspiring to choose
a right property for investment in the country. The perfect manner is to acquire
assistance from friends and relatives. You appeal to search for the right
property ones. Presently, there are successful real estate developers, who will
offer wide exclusive services for NRI’s and they will sort out from this difficult.
They have new launches to take care of your lavish property and they will
charge for preservation.
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