These days Economy of India is rising with the support of realty boom, and compared to Rupees Dollar is appreciating its value. Growing real estate market of India is attracting NRI’s who want to put their money and earn best appreciation in short span of time. In view of the fact that Delhi & NCR is a booming reality market, NRI’s have always measured it to be a safe step to invest in real estate.
Must Know Points for NRI Investors
A. Possession & Transfer of property by NRI
It is governed under FEMA Regulation, 2000, general authorization has been given to NRIs for the possession and transfer of residential immovable property in India.
B. Mode of payment by NRI
The payment/ consideration amount for buying the immovable property by NRI/ can be made out of
- Funds referred to India by normal banking channel, or
- Funds held in NRE/ FCNR (B)/ NRO account maintained in India.
No payment can be made either by travelers’ cheque or by foreign currency notes. No payment can be made outside India.
C. Registration process for the property
Documents required to be presented at the time of registration :
- Photocopy of Residence Proof of each owner, any identity card issued by Central Govt. / State Govt., PAN Card of each owner/ Form No. 60 of Income Tax Rules *, Possession Certificate.
- Two Passport size photographs of each owner
HcoRealEstate provides given below NRI Services for individuals who would like to buy a property in India.
- Determining your financial plans, requirement and preferable suitable locality.
- Providing you details of best options available in the location of your choice through E-mail. These E-mail communications contain details such as basic sale price, payment plans, availability, location and much more.
- We will also update newly launched properties on our site, if it suits your requirements we will call you and let you know about it.
- We are familiar with numerous officials and legal procedures which should be followed during the deal, we guide you in all such essential transactions all the way through the process of property negotiation.
- Attaining the ownership of the property (Registry) should be simple and without stress.
- Our dedicated NRI services representative will deal with all the authorized works to be carried out during the complete investment process.