5 Essentials for Investing in Real Estate as a Non-Resident Indian (NRI)

 For property investors from all around the world, the Indian real estate industry has remained a viable market. Non-resident Indians (NRIs) have developed a significant interest in the Indian property market, which is unusual. Industry experts discuss why NRI investors should continue to invest in Indian real estate.

NRIs can profit from a high return on investment and a cheaper initial capital commitment by investing in Indian real estate. There are several guidelines and regulations regarding NRI investments that you should be aware of in order to avoid any unexpected roadblocks in your investing path.

  1. Regulations on foreign currencies and tax advantages

Make sure you follow the FEMA (Foreign Exchange Management Act of India) laws. NRIs with an Indian passport do not require RBI authorisation to participate in the Indian real estate market. All debts taken out in India must be returned in Indian rupees. When investing in real estate, NRI should observe Indian laws and taxes regulations as well. It's critical to understand the tax incentives available under the Income Tax Act, since they will help to avoid double taxation and lower your tax bill.

"NRIs get an indexation advantage for the properties that are kept in India. Immovable properties are for more than 24 months, for example, are long-term capital assets and receive an indexation advantage as well as simplified taxes at 20%. Sections 80C and 80TTA of the Income Tax Act of India also provide for some tax deductions," stated Atul Goel Ganga, MD of the Goel Ganga Group.


  1. Putting money into high-quality markets

E-commerce and IT-related enterprises have exploded in the South Indian market, with cities like Pune, Bangalore, Hyderabad, and Chennai offering excellent returns on investment. Find a real estate advisor who can help you catch up the real estate trends in India and the best emerging areas to invest in. These professionals can also guarantee that you get the best property management services possible.

  1. Power of Attorney (PoA)

Because NRI real estate buyers may not be physically present in India at the time of the property sale, this is a need. NRIs can use the Power of Attorney (PoA) to delegate legal authority to trustworthy friends or family. This will help to execute all purchasing processes on their behalf. PoA can be useful in a variety of purposes, including leasing, selling, mortgaging, borrowing, as well as renting.

  1. Home Equity Loans

According to Atul Goel Pune, the Reserve Bank of India has enabled housing finance companies and banks to lend money to non-resident Indians who want to buy property in India. NRIs, like any other Indian citizen, are eligible for a house loan of up to 80% of the property's worth. Moreover, the loan is available in Indian Rupees, and the borrower must repay the loan in Indian Rupees as well. You can return it in one of the following ways:

  • Incoming remittances through banking networks
  • Accounts NRO/NRE/FCNR (B)
  • The rental revenue
  • By crediting the borrower's account, the borrower's close relative
  • Home loan payments cannot be made with travellers' checks or foreign currency notes. 
  1. EMIs and the Foreign Exchange Market

Paying off a debt in equal monthly installments is one of the simplest ways to do it. Changes in the foreign exchange rate, on the other hand, might affect your EMIs and add to your worries. As a consequence, paying via rents is always a good idea.

Conclusion

At Goel Ganga Group developed by Atul Goel Ganga Pune, all the buyers are treated equally. If you are an NRI looking to invest in luxury properties in Pune, please contact Goel Ganga Group team. Additionally, if you are not physically present in India, you may contact through a friend or family member who will act on your behalf using a Power of Attorney (POA).

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