Indian real estate is a thriving industry. It has captivated the attention of every investor looking to make profitable purchases and reaping long-term benefits. The nature and scope of property investment is such that it remains a primary source of investment among both Residents and Non-Resident Indians. The latter earn in foreign currencies and make savings, converting their earnings into lucrative investments. The dynamic financial environment in India serves as a catalyst for NRI property investment.
What properties can an NRI invest in?
Before you decide on the property you wish to invest in, understanding the types of properties an NRI can buy is vital. NRIs can purchase as many residential, industrial and commercial properties in India as they please. However, this group of investors is not allowed to invest in or purchase agricultural properties, farm houses or plantations. These properties however, can be owned by NRIs if received as a gift or inherited.
Purchasing residential properties as an investment is the wisest decision an NRI can make, purely because these properties offer high returns. However, ensure you choose the right residential property based on location, market rates and other crucial factors. Residential land can be easily acquired either directly from the owner or also as part of a gated community. You can even consider purchasing apartments or flats which promises higher returns. You can earn cash flow by renting out these apartments. In order to earn good returns, you are advised to buy apartments in the pre-launch phase. Choose a location that has great returns. Seek expert help if you need to ensure the property you are investing in, is the right one.
Villas or independent houses
As compared to apartments, villas and independent houses have higher appreciation rates, for they have a larger area of land per square foot. Villas help you generate good returns in the later years. Many urban developers have been building societies and gated communities with row-houses and villas with good proximity to nearby markets. If you seek the help of realty companies like T Bhimjyani Realty, Lodha Group, Kanakia Group etc., you’ll find an NRI corner section on the web-page with all the information you may need.
Another property type an NRI can invest in is commercial properties. A lot of investors prefer commercial properties. You can get in touch with a real estate company if you require assistance about which commercial property to choose. Always remember that commercial real estate market is not the same as residential properties. Understanding the whole market scenario is vital before you invest in a commercial land or property.
Payment of the Properties
As far as payment for the properties is concerned, an NRI is required to make payments in Indian currency. All the payments should take place through traditional banking channels.
Go through the NRI corner on realty websites for more details.