We are now having a look at why PROPERTY INVESTMENT can be a GOOD OPPORTUNITY for the NRI.
- 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”.
Surely, GOOD TIMES AHEAD for the NRI clan !!!
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Imagine a city where concrete hasn’t overtaken nature. Where trees and natural water bodies are abundant and there is ample space to breathe. Where roads are free of traffic and pollution is a thing of the past.
