The generally liberal policies of the Government have been very helpful for the NRI investor subject to the compliance of FEMA.
That there is no restriction on the number of properties they can purchase in India is a great advantage.
Besides, they do not require the RBI permission as is wanted in several other spheres.
Banks have been willing contributors to the NRI’s who wanted to add such an asset treating them on par with Resident Indians.
Payments for purchase can be made through funds remitted from abroad or out of balances in their NRE NRO FCNR accounts.
In case of the NRI’s inability to travel to India in the course of a sale, the facility of Power of Attorney given to a close relative is very helpful.
Stamp duty and Registrations processes are quite easy to understand and friendly.
Loan Repayments are permissible from in he NRI’s FCNR / NRO / or NRE a/c or a relative can be deputed to repay the same.
The Rental advantage is always there in that the rental returns have been steady and worthwhile.
Investment in India makes sense because of a disciplined stock market and its professional regulation.
The feel-good feeling given by the Indian economy is a shawl of security.
Stabilization of markets , earlier on , have been helpful to the cause of providing trust.
The proposed single window investment promotion council planned by the Government looks a good promise to remove the red tape.
To an NRI, a base in the homeland is an added security.
The revision in investor laws has allowed a surge of investment.
NRI‘s can set up family trusts abroad for education of his children/ maintenance of his family members. Such trusts can also be Asset Protection Trusts( including property ) where the assets held by the trust are free from attachment by the creditors.
Compared to times by-gone where the NRI was confronted from the Local Panchayat /Municipal /Corporation levels and was struggling to set foothold with property laws,income tax laws,wealth tax issues, succession legislation,land ceilings and others times have changed to welcoming the NRI’s with a red carpet and they in turn giving such an extraordinary response.
And lastly, the depreciating Indian Rupee has proved a great advantage in that the NRI gets “so much more for less”.
MARG Proper Ties cordially invites you to the Bhoomi pooja of LAKSHNA on Wednesday, 23 MARCH 2011 at 9.30 a .m. at the Lakshna Project Site.
Lakshna is located in the heart of OMR, Chennai. With just 40 spacious apartmentsspread across 2 buildings; Lakshna also offers fully covered parking area, a water treatment plant, Lift facility and power back-up for common and general lighting. These vaastu compliant homes are in close proximity to prominent corporate houses in the neighborhood; additionally first-class facilities are available within a 5 kms radius of LAKSHNA.
Property planners in Chennai are robustly excelling in Chennai’s Real Estate Segment with swift growth. The strategic and professional aid by the private property advisers has reinforced Chennai’s Real Estate sector. The construction and development of homes are at par excellence to the prospective beneficiaries varies in styles and formats ranging from apartments, flats, affordable home, satellite townships, upscale properties, villas. Hence competitiveness in terms of facilities offered like garden, clubs, tech savvy fixtures and other furnishings was the substance of USP. Though price factor concerned some target groups, selected property promoters favored the marginalized property aspirants.
Fame Of Chennai City : Best Cited In The Mother Language Of Tamil “Vandhorai Vazhavaikum Chennai”.
The distinct quality that fascinates the visitor of Chennai is home for all; in reality Chennai is an abode for those who take the privilege of admiring Chennai. This unique attribute indulges the visitors to endow on properties. The city of Chennai is not only cropping as a place for trade and commerce, but dynamically becoming a location of international importance. Significantly it has indexed as a focal point for property sector. It is not only one of the metro cities of India; undoubtfully it has also earned international acclaim. The myth of Chennai still remains clueless as property developers from other geographical locations are exploring all possibilities to conceptualize on various avenues of property development. Numerous properties are under construction, but also the fact that affluent properties are under the proposal for development. Which means that prospective property aspirants are making some wise moves to benefit from Governments restructured home loan policy.
MARG’s Charisma : We Build Property; You Foster Trust On Us
Whether you desire to buy affordable homes or glamorous apartments or elite apartments or swanky villas in Chennai, MARG ProperTies in Chennai will be devoted to offer you a property that would make you self esteemed.
Realty sector builds hopes on tax sops, industry status
It’s a given fact that India will be facing a shortage of about 26.53 million houses by 2012, there appears to be a consensus that the sector needs to be given some special attention in order to make it capable to cater to the demand. Pitching for the industry tag, real estate experts are talking about the increase and decrease in GDP rates, income tax exemptions, and say this is the recognition of the real estate industry.
The government has issued a special invitation to give 2% hike in the existing low interest rate home loans provided by the bankers. Indian Bank Association (IBA) had a review meeting with RBI regarding the hike in home loan given to their customers at a lower rate of interest – as low as 8%, which is much below their prime lending rates (PLR).
Indian real estate may be geared up for the better times in 2010, recessionary condition of 2008-2009 has helped highlight problems/loopholes marring the industry that remained hidden in the buoyant market.
Addressing a media conference on “Fairpro 2010″ the third in the series of annual property fair of CREDAI-Tamil Nadu, Chairman of Fairpro 2010 Sandeep Metha said; “The interest subvention scheme will help home buyers to acquire properties at lower home loan rates starting from 5.99 per cent”.
‘Demand-starved realty sector to get boost in 2010’
The year 2010 appears to have brought cheers to the demand-starved realty sector. With signs of economic recovery emerging in the country, the real estate sector has been predicted to see increased business activities. According to global real estate consultant Cushman & Wakefield, India cities would witness a strong-end user demand for commercial real estate in 2010.
Confederation of Real Estate Developers’ Associations of India (CREDAI) is hopeful of a positive year for the India real estate industry in 2010 and the market is expected to return to the 2007-08 level.