Investing in Indian real estate presents NRIs with a promising chance to earn income and consider establishing roots in the country. With the implementation of RERA and the Benami Property Act, the market has become more transparent, attracting more NRI investors. Here are essential tips to consider before investing in Indian real estate:

Nature of Property

Property Types: Regulatory restrictions allow NRIs to invest in residential and commercial properties in India, but prohibit them from investing in agricultural land, farmhouses, or plantation properties.

Tax Benefits: NRIs can avail tax benefits, such as exemption from wealth tax, if the property bought is declared as self-occupied.

Choosing a Residential Project

Project Options: Consider completed, under-construction, or pre-launch residential projects. Pre-launch projects often offer lower prices and attractive discounts.

Research: Thoroughly research the market to find properties that suit your requirements and investment goals.

Mode of Payment

Bank Accounts: Transactions must be conducted through NRE (Non-Resident External) or NRO (Non-Resident Ordinary) accounts in Indian banks.

Home Loans: NRIs can obtain home loans up to 80% of the property value from Indian banks, with repayment options through NRO or NRE accounts.

Appointing a Power of Attorney

Simplify Transactions: Consider appointing a Power of Attorney (POA) in India to manage property-related tasks, reducing the need for frequent visits.

Legal Assistance: Ensure the POA is legally bound and trustworthy, or appoint the developer as POA for streamlined processes.

Legal Assistance for NRIs at Urban Skyline Phase 2 Home Loans for Urban Skyline Phase 2

Documents Required

Essential Documents: Indian passport, PAN card, OCI/PIO card, and relevant financial documents for property transactions and home loan applications.

Legal Due Diligence

Verification: Conduct thorough checks on property ownership, clearances, and legal compliance to avoid future disputes.

Certifications: Obtain no-dues certificates for utilities and clear all payments and legalities before finalizing the purchase.

Conclusion

If you are an NRI seeking property in Pune, consider Urban Skyline Phase 2 by Urban Space Creators in Ravet. This luxury project boasts the tallest towers with 40 floors and over 70 world-class amenities, designed with eco-conscious principles in mind. Explore this opportunity to invest wisely in Pune’s thriving real estate market.

For NRI, investing in real estate in India presents promising opportunities for lucrative returns, provided that investors prioritize meticulous planning and strict adherence to legal and financial guidelines. Making well-informed choices is pivotal to ensuring your investment not only grows but also remains secure and profitable in the long term. By navigating the market wisely and staying abreast of regulatory requirements, you can pave the way for a successful and prosperous investment journey in India’s dynamic real estate landscape.