NRIs never miss an opportunity to reconnect with their roots
Dubai to Denmark and Australia to United States, NRIs never miss an opportunity to reconnect with their roots. Owning property/home is one such opportunity to build an emotional connect with their motherland. Indian cities have become torchbearers of smart and futuristic development. And Saagam Realty helps NRIs become a part of shaping the urban skyline in an ultramodern manner.
Historically, real estate has been an appreciating asset giving excellent return on investment. With the rapid urbanization millions of Indians are moving into metropolitan cities and there is a huge demand for real estate property. For the past five years growth of the Indian real estate market has been steady and has made corrections in terms of market prices and what you have now is the best pricing ever. At the same time the industry is propelling towards impending revival with timely interventions from the government and investor participation. Club it with the depreciation of Indian rupee against the dollar, it is an opportune time for NRIs to cash in on.
Moreover, with the implementation of GST, RERA and the amendments in the Benami Properties Act and Insolvency Laws the transactions have become fair and more transparent for the investors. The new rental laws and REITs are a right move towards protecting the interests of the investors. Thus, investors can now enjoy regular rental income from their property and long-term value appreciation on their capital.
Why Invest in Saagam Realty
Saagam Group has established a name for itself with transparency and service-oriented approach. The Group is committed to customer satisfaction with attention to detail and timely completion of projects. Saagam operates most promising residential and commercial development projects in some of the most sought-after locations. The properties confirm to the high standards that you would expect as an NRI. These are strategically developed not only to enrich the living experiences but also to ameliorate the potential return on your investments over time. Saagam also provides thorough pre- and post-purchase support to NRI investors. Moreover, you will get special assistance in renting and reselling according to your needs and convenience. Thus choosing Saagam today will be a right decision for a bright tomorrow.
Who is a Non-resident Indian (NRI)
A Non-Resident Indian (NRI) is an individual who is an Indian Citizen but has migrated to another country permanently or temporarily for the purpose of Employment, Education. etc. Other term commonly used for an NRI are Overseas Indian, Expatriate or Indian Expatriate.
Who is a Person of Indian Origin (PIO)?
Any person who was born an Indian Citizen, but over time has chosen the citizenship of another country is considered a Person of Indian Origin (PIO).
Are Non-Resident Indians (NRIs) & Foreign Citizen of Indian Origin (PIOs) allowed to acquire or dispose immovable property in India?
Yes! The Reserve Bank of India has clearly granted permission to all Non-Resident Indian’s (NRIs) & Foreign Citizens of Indian Origin (PIOs) to acquire & dispose immovable property in India, be it Residential or Commercial Property. However, the RBI has a restriction on the purchase of Agricultural Land/Plantation Property or Farmhouses in India.
What are the requirements for the purchase of Agricultural Land/Plantation property or Farmhouses in India by NRIs and PIOs?
Any NRI or PIO interested in the purchase of Agricultural Land/Plantation Property or Farmhouses in India would have to send a formal request for the same to The Chief General Manager, Reserve Bank of India, Central Office Exchange Control Department, Foreign Investment Division (III), Mumbai 400 001.
What method should an NRI or PIO use to purchase a property in India?
An NRI or PIO can purchase a property either through an inward remittance in foreign exchange through normal banking channels or through the funds available in the NRE/NRO/FCNR accounts maintained in India by the Investor.
Do you require the permission of the RBI to transfer immovable property in India?
No! NRIs and PIOs do not require the permission of the RBI to transfer immovable property to any Indian Citizen, NRI or PIO.
Can the properties (Residential/Commercial) be given on rent if not required for immediate use?
Yes! There is no clause by the RBI, which restricts an NRI or PIO to rent the properties acquired by them. The amount received from rentals can also be repatriated back to the country they are residing in, without any restriction.