1 / 4

Laws prevailing NRI realty investment in India

Exceptional on account of the new land principles of purchasing a property for non-occupant Indians is considerably simpler than previously. Anybody with Indian international ID can really put resources into the land in India giving the property isn't estate property, rural land or the farmhouse. Click here for the details… http://www.coldwellbanker.in/blogs/laws-prevailing-nri-realty-investment-india

cbiindia
Download Presentation

Laws prevailing NRI realty investment in India

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Home>Blogs> Laws prevailing NRI realty investment in India Laws Prevailing NRI Realty Investment In India Feb 2018 » ♦ * 1 1 * ♦ • i • •♦ • • • * • I > » » 1 f I • • • 4 • ^ ^ I • • — InGreen Homes Special thanks to the new real estate rules of buying a property for non-resident Indians is much easier than before. Anyone with Indian passport can actually invest in the real estate in India providing the property is not plantation property, agricultural land or the farmhouse. The most important considerations for the non-resident Indian invest in the real estate market in India by understanding the financial landscape. If the non-resident Indians is looking to invest in the Indian property, here are some things one need to remember before looking out for the properties: Regulatory Act If the non-resident Indians have an Indian passport, they don't necessarily require any permission in advance to make an investment in property in India. Reserve Bank of India had made rules and regulations simple to attract the foreign investment. The realty transactions are governed by rules under Foreign Exchange Management Act. Types of properties to invest in There is no such restriction on property numbers than the non-resident Indians can invest in. A Person of Indian Origin or a Nonresident Indian can buy as many commercial as well as residential properties in Indian as they want. There are restrictions on foreign investment, however, when it comes to plantation property, farmhouse or an agricultural land. The properties are allowed in the case these are inherited or may be gifted to the non-resident Indian in question. Power of attorney If a non-resident Indian is buying an under-construction property, one will definitely have power to an attorney to the trusted associate and builder. Take the help of the lawyer to correctly word the document so that there is no clear chance of forgery as well as an investment is secured while the property is actually being developed. Financial transactions and funding For many investments of property in India, all transactions should be done appropriately in Indian currency through the banks in India. One of the compulsories to have is the non-resident Indian account in any authorized Indian bank. Non-resident Indians can get the funding for buying if the paperwork is clean. There are various non-resident Indians' home loan schemes which are available under the varied financial institutions in India. If one is getting the property funded ensure that you have a minimum of 20% of the property value to invest from the sources. One can take funding for a maximum of 80%of property value. All the transactions should be carried through the Indian banking channels, so ensure to use the NRE/NRO account for the inward remittances. Also, issue the post-dated cheque or ECS from the Foreign Currency Non-resident Account, NRE or NRO. Before approaching the ban for funding, check all the paperwork is cleaner and verified by the lawyer. Take the no-dues certificate from the seller if non-resident Indian buys property and buy property and it is inherited or held jointly, work to get title cleared. Also,

  2. make sure that there are not any pending bills or the dues with any joint authorities. Tax benefits As the non-resident Indians can enjoy tax benefits that the Indian residents entitle to the property purchase. The non-resident Indians can claim for a deduction of Rs 1 lakh under Section 80C of the Income Tax Act, 1961. If you sell the property for the purchase of 3 years it is considered as the short-term capital gain and earnings through property taxable. If the property is sold after 3 years, one has the option of reducing the long-term capital gains tax by investing in any other property. CREDAI continuously organizes exhibitions for the non-resident Indians where they help them to scan varied investment options as well as offer spot loans from the renowned banks. Easy investment options, as well as the reduction in the down payment value, are offered. Thus, it is important that one check all the offers from CREDAI before investing in the Indian real estate. n * © « PREV ARTICLE Comments There is 0 comment on "Laws prevailing NRI realty investment in India". Submit A Comment your comment... yourname... your email... SENDCOMMENT Related Posts SHIptterbages Stttaq&tfijal Sss^rater IBahlds^on Humes e NhIough Dciing;naL Business Market 2018 < > Top Rated Recent Cities To Become Smart With GIS Technology

  3. There has been Lot of buzz around the... On June 22,2016 E8 Reasons You Should Consider Buying Than RentingIn the current monetary atmosphere, there is no... On June 10,2016 RERA Regulation BiLL Brings Cheer In Rajyasabha Assembly The RERA (Real Estate Regulation Authority)has certainly brought... On June 22,2016 Competition For Real Estate Agents In India By The World's Biggest Brokerage FirmIf you are fed up of continuous caLLs... On May 3,2015 CoLdweLL Banker Principled RealtyWhen we visited Knox Realty office for the... On March 3,2015 Categories 21 &Green Homes 19 &News 1 &Property T rends 2 &Realty Affairs Recent Posts How To Make Your Home Music Inspired Is Home decoration on your mind? With many options that are available... On Impact Of RERA On NRI Investment In Indian Real Estate Market The Indian real estate market has been pretty attractive for the non-resident... On NGT Questions Government To Exempt Small Real Estate Projects From Former NodThe National Green Tribunal has directed the Ministry of Environment and Forests... On Rules For NRI Investment In Indian Real Estate Market The realty sector has hugely remained unaware of the technological developments which... On Risks To Look For While Buying Homes The repossessed properties sold by banks can actually appear to be a... On RERA Restores NRIs Confidence In Realty Projects In India After many years of indecisiveness, the implementation of Real Estate Regulation and... On

  4. India's Jump On World Bank's Index On Doing Business In 2018 For all the correct reasons, the World Bank doing Business 2018 report... On Can NRIs Acquire Immovable Property In India? Real Estate in India has always been one of the investment chances... On Make Use Of Pebbles To Your Home Decor Natural elements do have a charm of their own. They do make... Quick Contacts Phone No. : +91 22 6736 4000 Email:info@coldwellbanker.in ( © Copyright 2017, Coldwell Banker India. All rights reserved.

More Related