India has a burgeoning Real Estate sector. With brisk rate of development, the investments in this sector is contributed from different sources. One of the most crucial investments are the ones made by the NRIs. Prateek Group has multiple high end luxury projects that receive overwhelming response especially from the NRIs segment. This blog is an attempt to present the NRIs with the significant information that they need to consider while making property investment in India.
We have highlighted some of them below:
Number of properties
The NRIs can buy numerous properties in India. These properties can include both commercial and residential. This has captivated renowned developers across the country to create ultra-luxury properties, keeping in mind the investors requirements and expectations.
Permissions
Requirement of permission of RBI often emerges to be a question for the buyers. However, there is no need to take permission from RBI for acquiring any kind of properties.
Knowing about taxes
If you are purchasing one property, then it will be considered as being self-occupied. Thus, as a buyer you will not have to pay any income tax on the property. However, if you have more than one property, then the second property will be regarded as a source of income. Hence, you will have to pay income tax for the second property.
Exploring home loans
NRIs can also opt for loans while buying properties in India. The EMIs can be paid through the foreign accounts with ease. Also, the transaction can be done through the bank account of local relatives.
In addition
There are a few other aspects also that the NRIs need to consider while purchasing a property. For more information visit www.prateekgroup.com/nri-faq.asp
We have highlighted some of them below:
Number of properties
The NRIs can buy numerous properties in India. These properties can include both commercial and residential. This has captivated renowned developers across the country to create ultra-luxury properties, keeping in mind the investors requirements and expectations.
Permissions
Requirement of permission of RBI often emerges to be a question for the buyers. However, there is no need to take permission from RBI for acquiring any kind of properties.
Knowing about taxes
If you are purchasing one property, then it will be considered as being self-occupied. Thus, as a buyer you will not have to pay any income tax on the property. However, if you have more than one property, then the second property will be regarded as a source of income. Hence, you will have to pay income tax for the second property.
Exploring home loans
NRIs can also opt for loans while buying properties in India. The EMIs can be paid through the foreign accounts with ease. Also, the transaction can be done through the bank account of local relatives.
In addition
There are a few other aspects also that the NRIs need to consider while purchasing a property. For more information visit www.prateekgroup.com/nri-faq.asp
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