There is no doubt that the real estate market in India is booming. The new developments of the suburban locations in the periphery of metro cities are also attracting the attention of NRI investors. They are willing to invest in this booming market for better returns. There are some facts that the NRI investors need to ponder so that the investment becomes a hassle-free venture.

The Indians living outside the country are now willing to canalize their hard earned money in this booming industry. The attention is being paid to the metro cities mainly. The growing standards of the national brands in the real estate sector are also making the NRIs invest here. After the amendment of RERA Act, the ventures have become more clarified and transparent. Both commercial and residential segment of this industry is becoming a lucrative platform.

Facts Regarding Buying/Selling of Properties

An NRI can easily come to the country and own property. He can also sell his owned properties. In fact, the rules also dictate that he can issue a power of attorney to a well-wisher to take care of the properties in the future. The well-wisher can be a relative or a friend. The banks have also stepped into this matter. They are providing elegant home loans for the NRIs. Every banking institution knows that the risk in this venture is less and the return is confirmed. The documentation part might vary depending on the country the NRI belongs now. The home loans are set for 10 to 15 years generally.

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The amount of loan will be decided based on the NRI’s income, education, age, etc. The banks have set feasible rules for this genre of loans. The experts advise to issue a nonresidential external account (NRE) for the transactions of the loans and purchasing the property. On the other hand, if the NRI wants to sell the property in future, this NRE account will help him to transfer the money to his current foreign account.

Future investments

This is the best time to invest in elegant properties from the leading real estate developers. The experts suggest the NRIs, on the verge of their retirement, to show interest in Indian real estate investments to secure their future. The majority of the metro cities have revamped their status. The development from the government side and private organizations have created various landmarks. The NRIs will surely find a great environment to stay and enjoy the cream benefits of real estate investments in the future.

Once an asset is secured, the phase of another investment can be initiated with the surplus amount. The secondary assets can be used to generate rent and make a new channel for monthly steady income. For such investments, it is necessary to take the assistance of a reputed real estate consultant to know the laws and regulations. Before the investment, every nook and corner of the laws and taxes should be known. After evaluating a new property aptly, the NRI should proceed for the investment.