Frequently Asked Questions
Q 1 : What is the best investment for NRIs in India?
Ans: The prospective matters as if an NRI wants to come back and settle in India. The commercial could be a better option where ROI in prospect of rent is 7-8 % (as compared to residential, which is 2-3%).The investment could vary on the matter of fact in which country you reside in. In the US, there is no return on cash deposits, and commercial inflationary growth is added together. When you will get back to your country, the investment to get rental returns on commercial can be a good option.
Q 2 : What documentation NRIs need to check before finalizing a property?
Ans: They cannot buy agricultural land; they have to show a PIO or OCI card as ID proof.
Q 3 : How does location impact to buy property for ROI purposes?
Ans: Most of the time, NRIs buy property from a long term perspective. Buying a progressive location is always beneficial as compared to an already developed location. The chances of appreciation are more at such a location and the easy rental can also be an additional advantage with that prospect.
Q 4 : What are the rules for NRIs to invest in property in India?
Ans: The major rule is that they are not allowed to buy agricultural land.
Q 5 : What are the GST rates for NRIs to invest in Real Estate in India?
Ans: There is no change in GST rates for NRIs to buy property in India.
Q 6 : What are the RERA rights for an NRI customer?
Ans: The rights are the same for an NRI buyer in RERA as a normal citizen.
Q 7 : What if an NRI wants to apply for a home loan to buy property in India?
Ans: The home loan process will be the same for him/her as a normal citizen. However, POA has to be registered in India under somebody’s name who can do all transactions of home loan on his/her behalf.