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NRIu2019s have been significant investors in the real estate industry in Bangalore. They usually purchase apartments in prime locations such as Electronic City, Sarjapur Road, Whitefield, and others for primarily investment purposes. Few other reasons why NRIu2019s prefer to buy real estate is that they are either emotionally attached to the city or to build a retirement home of sorts for themselves and their family. This is why developers are constantly trying to woo their overseas investors by offering them various amenities and features in their developments.
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Do’s and don’ts for NRI’s investing Bangalore real estate NRI’s have been significant investors in the real estate industry in Bangalore. They usually purchase apartments in prime locations such as Electronic City, Sarjapur Road, Whitefield, and others for primarily investment purposes. Few other reasons why NRI’s prefer to buy real estate is that they are either emotionally attached to the city or to build a retirement home of sorts for themselves and their family. This is why developers are constantly trying to woo their overseas investors by offering them various amenities and features in their developments. If you are an NRI who is looking to purchase a villa plot in Jigani, apartment in Electronic City or any other location of your choice, the Reserve Bank of India has simplified the process for you. In order to boost overseas investments in India, lucrative financial schemes such as flexible payment plans, subvention schemes, and others have been put into play. These schemes make it easier for NRI’s to invest in a home of their choice.
Kinds of property an NRI can invest An NRI is allowed to invest in any commercial or residential property in India. However, any agricultural land, plantation and farmhouse property can only be owned by the NRI if it has been gifted to him/her. One of thetop builders in Bangalorewho has gained the trust of a number of NRI’s is – S2Homes. Their villa plot in Jiganiand apartments in Electronic City are few of the top picks. They have been in the industry for more than thirteen years and have constantly focused on delivering the best to its clients. Buying and Selling An NRI can either purchase the property in person or can give the Power of Attorney (POA) to a trusted individual who is a resident of India. An NRI can also avail home loans in India. The documents for the loan application may vary based on the country the NRI is residing in. The general term for the loan will be 10-15 years, depending on the age, profession, annual income, etc. An NRI should use an NRE account while making the purchase. No payment can be made either by traveler’s cheque or by foreign currency notes. All transactions need to be made in India. The future looks fruitful The city is bustling with corporates, metros, new age technology, and fresh talent. Now is the perfect time to purchase a luxury apartment in Bangalore. If you’re looking to invest in property, we would suggest you look for government-approved apartments in Electronic City, Rera approved flats in Sarjapur Road or a property in an area of your
choice that has the proper documents and approvals from the government. Find out the timeline of the project, the amenities they’re offering, rate of other properties in the area. For example, if you are looking to invest in luxury apartments in Electronic City, you might consider investing in the project Watergrove by S2Homes. Watergrove is a range of 2, 2.5, 3, 3.5 BHK apartments and duplexes in the heart of the city. With world-class amenities and spacious homes, this is the perfect investment choice for a local or NRI.
