We welcome NRIs to participate in real estate investments by way of huge investment opportunities with fruitful returns available in residential and commercial projects, SEZs and infrastructural facilities through our wide presence PAN India.
The Indian real estate developers provide High-quality construction, transparency about the projects on offer and fairness in dealings which is attracting huge NRI investment in real estate. They can consider their investments to be safe and rewarding when they park their money in realty sector in India. They also enjoy the same status as any other property owner.
An NRI investor can raise finances from financial institutions to purchase any kind of property. Most of the Banks and other financial institutions in India facilitate the NRI investment in property speedily and efficiently.
Kunvarji has a dedicated NRI Desk that ensures hassle-free service provision for all your realty needs!
Real estate has always been a lucrative investment option for NRIs. RBI has laid down fairly conducive & hassle free regulations to enable the NRIs make voluptuous investments in the realty sector. Due to RERA(Real Estate Regulation Act), the market has become secure.
The following factors make the real estate sector one of the most yielding sectors for the investors:Apart from the factors stated above, what attracts the NRIs is the splurge of luxury apartments, splendid villas & beautiful commercial complexes being created by the realtors in India.
Last but not the least, a change of attitude amongst the young NRI population from that of ‘save & buy’ to ‘buy & repay’ has contributed immensely in generating huge returns from the Real Estate sector in India.
NRI’s, especially those looking to migrate back to India are investing in property, houses and real estate in India. There are no objections on the way of the NRIs to make profits from business in India. As Indian Economy basks in the light of the real estate boom. NRIs are seeking to invest their foreign Currency in Indian climbing property market from where they can buy/sell properties for the best capital value appreciation.
Real estate in India has been serving to specialized Real estate requirements for NRIs who are contemplating property investments in India. Our NRI Investment database servicing professionals with expertise in NRI realty services will help you transact the best deals for your real estate needs across India. Real estate sector in india provides higher yields as compared to other developed countries.
The Real Estate India provides Following NRI Services for those who would like to Invest/ buy a property in India.(i) Purchase of immovable property A NRI can acquire by way of purchase any immovable property (other than agricultural land/ plantation property / farm house) in India. (ii) Transfer of immovable property A NRI may transfer any immovable property in India to a person resident in India. He may transfer any immovable property (other than agricultural land or plantation property or farm house) to an Indian Citizen resident outside India or a PIO resident outside India.(iii) Payment for Acquisition of Immovable Property NRIs can make payment for acquisition of immovable property (other than agricultural land/ plantation property / farm house) out of: Funds received in India through normal banking channels by way of inward remittance from any place outside India or by debit to his NRE / FCNR(B) / NRO account. Such payments cannot be made either by traveller’s cheque or by foreign currency notes or by other mode except those specifically mentioned above. (iv) A NRI who has purchased residential / commercial property under general permission is not required to file any documents with the Reserve Bank.
Person of Indian Origin (PIO)(i) Purchase of immovable property A PIO can acquire by way of purchase any immovable property (other than agricultural land/ plantation property / farm house) in India.(ii) Gift/ Inheritance of immovable property (a) A PIO may acquire any immovable property (other than agricultural land/ plantation property / farm house) in India by way of gift from a person resident in India or a NRI or a PIO. (b) A PIO may acquire any immovable property in India by way of inheritance from a person resident in India or a person resident outside India who had acquired such property in accordance with the provisions of the foreign exchange law in force or FEMA regulations, at the time of acquisition of the property. (iii) Transfer of immovable property A PIO can transfer any immovable property in India (other than agricultural land / farm house / plantation property) by way of sale to a person resident in India.He may transfer agricultural land / farm house / plantation property in India, by way of gift or sale to a person resident in India, who is a citizen of India. He may also transfer residential or commercial property in India by way of gift to a person resident in India or to a person resident outside India, who is a citizen of India or to a Person of Indian Origin resident outside India. iv) Payment for Acquisition of Immovable Property in India A PIO can make payment for acquisition of immovable property in India (other than agricultural land / farm house / plantation property): By way of purchase out of funds received by inward remittance through normal banking channels or by debit to his NRE / FCNR(B) / NRO account. Such payments cannot be made either by traveller’s cheque or by foreign currency notes or by other mode other than those specifically mentioned above. (v) A PIO who has purchased residential / commercial property under the general permission, is not required to file any documents with the Reserve Bank. Acquisition of immovable property by person resident outside India for carrying on a permitted activity A person resident outside India who has established a Branch, Office or other place of business, excluding a Liaison Office, for carrying on in India any activity in accordance with the Foreign Exchange Management (Establishment in India of Branch or Office or other Place of Business) Regulations, 2000 may – acquire any immovable property in India, which is necessary for or incidental to carrying on such activity, provided that all applicable laws, rules, regulations or directions for the time being in force are duly complied with; and the person files with the Reserve Bank a declaration in the form IPI (Annex-2), not later than ninety days from the date of such acquisition; and transfer by way of mortgage to an Authorized Dealer as a security for any borrowing, the immovable property acquired in pursuance of clause (a) above.
Repatriation of sale proceeds of immovable property(A) Immovable property acquired by way of purchase (a) A person referred to in sub-section (5) of Section 6 of the Foreign Exchange Management Act3 , or his successor shall not, except with the prior permission of the Reserve Bank, repatriate outside India the sale proceeds of any immovable property referred to in that sub-section. (b) In the event of sale of immovable property other than agricultural land / farm house / plantation property in India by a person resident outside India who is a citizen of India or a person of Indian origin, the Authorized Dealer may allow repatriation of the sale proceeds outside India, provided the following conditions are satisfied, namely: (i) the immovable property was acquired by the seller in accordance with the provisions of the foreign exchange law in force at the time of acquisition by him or the provisions of these Regulations; (ii) the amount to be repatriated does not exceed: the amount paid for acquisition of the immovable property in foreign exchange received through normal banking channels, or the amount paid out of funds held in Foreign Currency Non-Resident Account, or the foreign currency equivalent (as on the date of payment) of the amount paid where such payment was made from the funds held in Non-Resident External account for acquisition of the property; and (iii) in the case of residential property, the repatriation of sale proceeds is restricted to maximum two such properties.
Purchase of Immovable Property in India by a Foreign National of Non- Indian Origin resident outside IndiaForeign nationals of non-Indian origin resident outside India are not permitted to acquire any immovable property in India unless such property is acquired by way of inheritance from a person who was resident in India. However, they can acquire or transfer immovable property in India, on lease, not exceeding five years without the prior permission of the Reserve Bank. Foreign Nationals of non-Indian origin, other than a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal or Bhutan, can acquire immovable property in India on becoming resident in India in terms of Section 2(v) of the Foreign Exchange Management Act, 1999. In this connection, he has to satisfy the condition of period of stay. The type of visa granted should clearly indicate the intention to stay in India for an uncertain period to determine his residential status in terms of section 2(v) FEMA, 1999. (Press Release dated February 1, 2009 issued by Government of India is enclosed as Annex-1). Foreign nationals of non-Indian origin who have acquired immovable property in India by way of inheritance with the specific approval of the Reserve Bank or have purchased the immovable property with the specific approval of the Reserve Bank cannot transfer such property without the prior permission of the Reserve Bank. (Source : https://www.rbi.org.in/)
DisclaimerAll the information provided is for knowledge purpose only. Investors are requested to re-verify all the information before taking any decisions