NRI investments are extremely popular in India’s real estate market. NRI investors should do their homework before putting their money at risk.
This is the first must-know check every NRI needs to know
Most Indian developers hold road shows abroad. NRIs need to be wary of the glossy brochures and intimidating presentations. Indian property buyers who live abroad should have an agent visit the property to verify its reality. The property and site must look good and have better connectivity.
NRIs have also had to deal with the issue of prices. NRI buyers in foreign countries are charged slightly more than those from their home country. This is a known fact. Experts also say that buyers are less likely to receive discounts abroad.
NRIs should know the price at which Indian property is being sold to avoid such situations. Instead of spending a lot of money without knowing, you can opt for construction-linked payments that offer different options. International investors should consider buying complete projects immediately upon their possession.
Understanding Indian law
Indian real estate is a hot topic for NRIs who wish to invest or buy property in India. Understanding Indian law is essential as it is the best way to avoid scams. NRIs need to know if their profits will be subject to double taxation.
The Return On Investment
They are likely to be lower than they were recently for the mean reversion returns on real estate. To make informed decisions, NRIs need to be aware of the state of the real estate market in their country. NRIs should not invest in residential property during low returns. They must wait until they see reasonable long-term returns. NRIs should also know that the rupee will depreciate in the country, which can have an impact on their returns.
Get a trusted friend to look after your property.
It is a smart idea to have someone in India who can look after your property. This is especially important for investments in under-construction projects, as it is not possible to fly directly over. NRIs should also have an agent to collect rents and take care of property maintenance. This is a problem that NRIs have to deal with when investing in India. If they had someone to look out for them, it would be simple and profitable to invest in India.