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Can an NRI buy property in India?

Home Loan For NRI, Singapore NRI Housing Loan, NRI home loans, home loan interest rates in INDIA<br>

RobbinKendy
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Can an NRI buy property in India?

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  1. Housing Loan for Nri

  2. Home Loans for Non Resident Indians

  3. Owning a personal heaven (read home!) of choice is a dream of every human. It is more a necessity than a luxury to have a beautiful and well-furnished place you can call home. • Home loans provided by various Banks and Housing Finance Companies (HFC's), providing finance to the citizens have come the rescue of those willing to convert this dream into reality. • It's not just the citizens who are availing these, but even NRIs, whose needs are being looked into, as well. • Regarding home loans for NRIs, various queries like "what exactly are they, what do they do, who can avail them" may rise in the minds of many.

  4. How the government defines NRIs: NRI's are Non Resident Indians, who are the citizens of our country, and who hold a valid document like, say the Indian passport. • They stay abroad for employment or for carrying out a business. Every bank follows the RBI guidelines to provide a home loan to the NRI's who are recognized under Foreign Exchange Regulatory Act, 1973. • Specifications for NRIs intending for a home loan: Housing Loan for Nri are available for construction of new houses or flats. • purchase of old houses or flats, flat addition, alteration of existing houses, renovation, repairs etc.

  5. • An NRI can get a maximum of 85% of the cost of property. • • Payment options are critical for providing the loan. It should be only through the Equated Monthly Installments (EMI), which also include the interest and principal amount calculated on monthly rests. • • Payment of EMI is by issuing post-dated checks from his/ her Non Resident External (NRE) or Non Resident Ordinary (NRO) or Non Resident (Special) Rupee Accounts (NRSR) in India. • • They are also provided with various facilities like Step up Repayment, Flexible Loan Installments Plan, and Accelerated Repayment Schemes etc., for the repayment of the loan. • Source: http://ezinearticles.com/?Home-Loans-for-Non-Resident-Indians&id=6132263

  6. Click to know more on Housing Loan for Nri : https://www.hdfc.com/NRI/Singapore/housing-loans/home-loans/for-new-homes-salaried Thank You…

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