Non-Resident Indians have never seemed interested in investing in the real estate market of India before. Still, through accountability and transparency by the Indian government through RERA, which regulated many policies in the real estate sector of India, there had been a revival of investment by NRIs in the Indian real estate market. With low initial capital investment and high return on their investment, NRIs profit from investing in the Indian real estate sector. Companies such as Sri Vedatraye Developers can be of help to find the best real estate companies.
Interesting benefits Non-Resident Indians get by investing
Regions with a high potential for a good return on investment NRIs are using that as their benefit. For example, places like Bangalore, Hyderabad in southern parts have seen IT-related businesses’ successful establishment. NRIs invest in this region a lot because it provides them with a good investment return. SRI VEDATRAYE real estate Company in Hyderabad always provided reliable construction and delivered quality plots and estates previously in various projects. Many NRIs have already invested in their projects and earned fruitful profit.
As NRIs are not eligible to invest in agricultural farmlands or farmhouses rather than commercial or residential properties, for some scenarios court approves NRIs in their jurisdiction to invest in these restricted properties.
Many NRIs return to their homeland after a certain point, so investing in real estate in India to ensure the home is very important. They return to their own country out of sentiment, or they want to settle down after retirement. Many NRIs secure the future of their family in case their family wants to return to India. NRIs want to increase assets for themselves by investing in the real estate market. With a view of getting regular rentals, NRIs feel it is quite good to invest in this market, which succumbs to large returns. As India’s real estate climate is dynamic, India’s property market valued by the year 2020 is 180 billion.
NRIs feel the Indian real estate is amazing for these profitable parameters like:
- Policies of government
- Increase in economic growth
- Consumers pattern of consumption
- The decrease in the GST rate from 5% to 1% boosted confidence in many NRI investors.
- The process of digitalization helps in simple transactions all over the world.
- The decline of unsold inventory.
Indian real estate-grown stronger from 2019 to 2020 with quality supply and healthy demand. The above reasons painted an optimistic picture for anyone, especially NRIs who wanted to invest in this market.
More factors on this:
- Nowadays, real estate developers are creating residential projects which are perfect for NRIs.
- Included with many luxury options like modern amenities and facilities, they never let Non-Resident buyers feel like they have traded part of their lifestyle.
- For long-term assets, many young Non-Resident Indian buyers got interested in purchasing properties in India.
- While investing, the fall in the value of the Indian rupee compared to US dollars gave NRIs more confidence.
- For Non-Resident Indians, the plans and schemes provided by the real estate advisors are more investment-friendly.
RERA, which we have discussed at the very start of the topic, a government policy that helped provide more transparency to the buyers’ like project completion on time and quality construction, as per international standards, the NRI investors feel more confident in this real estate market.
Last but not least, NRIs have to keep certain things in their mind before buying real estate like
Power of attorney: As NRI, they stay outside of their country, and they are unable to visit their country frequently. They need to give a letter or document means power to a person who will act as a decision-maker for them and who will take care of their property transactions. Non-Indian Residents must duly inspect and give this power to a suitable, trustworthy person or organization that will act and inspect properties in the NRI investor’s best interest. NRIs should also understand FEMA and EMI for better schemes.