NRI investment is a common aspect of the Indian economy and has always played a critical role in its improvement. NRIs are motivated to buy properties in India for long-term investment purposes or out of a purely emotional bond with the country and as a backup if they ever plan on settling here post their retirement. The pandemic and the resultant lockdown were an eye-opener for many NRIs. It made them realize the essence of having a house in their home country. The pandemic emerged as both – a lucrative and sentimental option for NRIs to invest in Indian real estate. Real estate developers of India have always considered NRIs a significant part of their targeted audience owing to their ability to make big investments. India has evolved into a great hub for NRI investment because of the difference in the monetary value of the rupee to the dollar or the pound sterling, and a wide variety of options they can comfortably choose from.
Benefits of Investing for NRIs
The investment transaction is made in Indian Rupees which is much lower in monetary value in comparison to foreign currencies like USD or GBP. This gives NRIs the freedom to spend much less in their original currency and gain greater financial value in India. This allows them to make quality purchases in India at a much cheaper cost than in the countries they live in. NRIs can claim tax deductions on the repayment of interest and the principal amount only if they have a taxable income in India. Apart from this, for an asset bought after years from the date of purchase, income earned at the capital advantage is exempted from the income tax.
Technology has played an important role to bridge the convenience gap between NRIs and domestic buyers. Most developers in India are offering virtual tours of their properties, simultaneously enabling buyers to digitally inspect the apartment, process documents, initiate paperwork, and even purchase without having to physically travel.
Types of Properties NRIs Prefer
There is no restriction on the number of properties NRI’s can purchase in India according to the guidelines of RBI as long as the properties are residential or commercial. Agricultural land, plantation land, or a farmhouse cannot be purchased by an NRI.
NRIs have always preferred investing in options that match their lifestyle. An abundance of open green spaces that offer wellness and health amenities of good quality, along with unmatched connectivity and convenience. Ready-to-move-in properties or nearly completed ones are secure investments and are usually the kind of properties the buyers are on the lookout for. Homes and investment opportunities outside the bounds of the city have seen good traction as they are far from all the hustle and bustle. Homes away from the cities are more peaceful to live in and investment options have a larger potential to improve and boost the ROIs.
At RGS Realty, absolute transparency is prioritized in order to ensure crystal-clear deals. With plenty of open spaces and convenient health and wellness amenities, the projects are strategically planned to bring seamless connectivity to our customers. We want to build good communities. Visit www.rgsrealty.com to know more about us and our work.