NRIs are now turning their long held aspirations of owning
real estate in India, into reality by buying property in India. NRI Buying
property in India is not surprising. India's growth story continues to
fascinate the world and NRIs are looking to capitalize by buying property in
India. NRI buying property in India is a no brainer as India has continued to
give an average of 20% return on investment per annum even as most of the world
economies are in recession.
More importantly NRI buying a property in India has become
more prevalent as many avenues are being created as well as schemes being
fashioned for NRI/PIO/OCIs to bring in maximum investment from abroad.
Below is a quick overview on developments that have led to an
increasing interest for Home
Loan and inflow of investments from the NRI community worldwide.
All persons residing outside India holding Indian passports
and also people of Indian origin have been granted permission by the Reserve
Bank of India (RBI) to invest in both residential and commercial properties in
India.
The government including RBI and Foreign Exchange Management
Act (FEMA) has liberalized the rules and regulations for the NRI buying
property in India. Liberalization along with the added advantage of
repatriation of the capital invested and even the rental proceeds under the
circumstances prescribed by RBI have also encouraged NRI to buy property in
India. Capital gains accruing from any sale of property can be remitted out of
India after paying capital gains tax. This has encouraged NRI to buy property
in India as it has been a big concern within the NRI community on repatriation
of funds abroad.
With most world economies facing a slowdown, NRI buying a
property in India has had a return on an average of 20% pa and in some pockets
like Gurgaon a return of 50-60%pa. India is a safe destination - a brisk
economy and a huge population fuelling it.
To an NRI buying a property in India, a base in the homeland
also brings with it a sense of security. The number of NRIs who are investing
in property for sentimental reasons and for better investment returns is
quickly multiplying.
[Source: http://www.sooperarticles.com/real-estate-articles/property-investment-articles/nri-buying-property-india-beginners-guide-1073407.html]
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