Non-residents Indians [NRIs] have
recently begun to show immense interest in the real estate market of India. A
lot of NRI funds are coming to India, through various channels, to be invested
in the real estate industry, as these NRIs want make the most of the
opportunities offered by the growing real estate market in India.
We cannot ignore the important
aspect of India's government in promoting real estate. The Indian government
has played a major role in supporting the growth of the real estate sector by allowing
NRI investment and Foreign Direct Investment [FDI] in real estate. With
an exceptionally good return on the investment, the real estate sector has
become the preferred choice of most of the investors.
Various lucrative avenues are
being created and offered to invite maximum investments from abroad. The NRI
section has responded quite positively, showing keen interest in India's real
estate market. NRIs are investing a lot in residential and commercial
properties to cash upon the increasing property demands.
NRIs are also allowed to
participate in real estate investments
by way of huge investments in the construction of residential and commercial
projects, development of townships at city and regional level, constructing
infrastructure facilities like roads and bridges in urban areas and investment
in participatory ventures. The status of an NRI as a property owner is not much
different from the Resident Indian; just like any other property owner, NRIs
pay property tax to the concerned authorities, though NRI property tax is
slightly different from what Indian residents pay.
NRIs also get complete support
from the financial institutions and banks for the finance required for the
purpose of investment in properties in India. NRIs are eligible for availing a
home loan facility to purchase a property in India; in fact they are considered
as quite a safe profile due to their good repayment capacity. As far as the
process of the repayment of the home loan is considered, it can be
made through a normal banking channel by way of inward remittance. It is also
possible to repay by way of direct debit into the accounts of Non-residents
(External) [NRE] or Non-resident Indians who earn an income in India through
rent, dividends, pension, etc [NRO]. Online banking in India, and these special
accounts for NRIs, has facilitated transactions for any kind of NRI investment
in India.
It is a good sign that the NRI's
trust in the real estate market of India and consider their investments to be
safe and rewarding. Any kind of NRI fund inflow to India generates a lot of
interest in the country, which further helps to boost the market.
About Author: – Ravi chauhan
writes on the behalf of Indian real estate, which is the
best leading real estate portal providing genuine and accurate information
about the recent real estate projects Like Lotus Sports City.
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