Indian Real Estate market has been a well sought after investment among NRIs as a means for profitable returns on their additional or surplus income and was considered as one of the safest options to make an investment. There are many preferred locations in the city such as North Bangalore, which almost guarantee steady returns on investment.
But lack of transparency and clarity, coupled with the absence of information & scientific process, there has been a growing resistance in making any investment for the long run.
The new regulations introduced in Indian real estate are set to make it easier for NRIs to invest in properties in India with a renewed interest. Industry insiders estimate that the NRI investment in 2017 in Indian cities will touch $11.5 billion. Both demonetization and RERA have played a major role in instilling NRI confidence in India. With these developments, it is imperative that NRIs understand the financial landscape of the country.
Under Foreign Exchange Management Act (FEMA), any Non-Resident Indian with an Indian passport can invest in properties in India. Apart from agricultural land, forests or plantation property, they can invest in any residential or commercial properties in the country.
Flexibility in laws to attract foreign investment, ease of loan facilities are yet other factors that will attract more NRIs to Indian real estate. The investment sentiment is greatly boosted by, GST, Benami Act and REIT amongst other government schemes.
Increased clarity and transparency in the sector driven by policy initiatives will encourage the NRI community to invest in India.
Hot Tips for NRIs while investing in India Real Estate include:
With the real estate sector playing a significant role, India is certainly one of the fastest growing economies in the world. The policy initiatives and the renewed outlook of the industry will certainly propel growth in the sector and attract more investments from the world over.
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