INVEST IN INCREDIBLE INDIA
Real estate is a sector that has always attracted investors due to its stability and monetary benefits. Especially in a country with a growing economy like ours, real estate is an investment that’s sought after by all, especially NRIs. The idea of buying a home in your homeland is a matter of both emotional and financial security. All you need is the right people to help you make the investment of a lifetime.
CHOOSE SOUTH INDIA. CHOOSE CASAGRAND.
Casagrand Builder Private Limited is a real estate enterprise committed to building aspirations and delivering value. In the last eighteen years, we have developed over 38 million sqft of prime residential real estate across Chennai, Bengaluru, Coimbatore, and Hyderabad. Over 40,000 happy families across 140+ landmark properties stand testimony to our commitment.
In the eighteen years of our journey, we at Casagrand are all set to progress further forward with projects worth over ₹8000 crores in the pipeline.
18 Years of Excellence in Real Estate | 140+ Landmarks | 40000+ Happy Customers | 38 Million sq.ft. of Living Spaces
An NRI is any citizen of India who is not residing in India and has resided in India for less than 182 days in the preceding financial year. NRIs have professional or other commitments which require them to live outside India for an indefinite period of time. However, NRIs still have opportunities to buy real estate in India.
A PIO is any citizen not of Pakistan or Bangladesh who has:
A PIO can also buy real estate in India, and invest in Indian properties.
An OCI is a person who is a citizen of another country, but also:
With NRI investment in India growing at a large rate, an OCI can also buy real estate in India.
According to guidelines laid down by the RBI, the following can purchase property in India:
All three categories are generally referred to as NRIs for the purpose of opening bank accounts, for bank deposits, for purchasing property, etc. NRI investment in India shows great potential, and any of the aforementioned can buy real estate in India.
The RBI allows NRIs to purchase immovable property in India including:
However, NRIs are forbidden from purchasing:
If you are looking for NRI investment in India and want to purchase one of these, you will need to specially apply to the RBI for permission and your case will be considered separately.
While presenting documents to buy real estate in India, NRIs fall under two categories: salaried individuals and self-employed individuals.
Salaried NRIs looking to invest and buy real estate in India should have the following documents:
NRIs who are self-employed individuals looking to buy real estate in India should have the following documents:
Anybody who wants to make an NRI investment in India should possess the following documents:
For more details, read our article on Mandatory Documents NRIs Need While Investing in Indian Realty.
NRIs who want to buy real estate in India need to appoint a power of attorney who can act on their behalf.
There are three types of PoA’s for NRI investment in India:
With regard to real estate for NRI investment in India, a PoA can:
The following steps need to be completed to grant someone PoA status:
If you are an NRI looking to buy real estate in India, loans can be made available. Here are the guidelines to follow for home loans that cater to NRI investment in India:
Here are the documents needed for home loans that cater to NRI investment in India:
For more options, read our article on Home Financing Options for NRI Investors.
NRIs need to file income tax returns for investments if:
For those looking to make an NRI investment in India, you will be exempted from filing income tax returns if:
There are three ways NRIs can file income tax returns:
With these, an NRI can easily buy real estate in India and sail a smooth journey throughout.
For NRI investment in India, some of the assets taxable under CGT include:
Some of the assets which don’t fall under CGT include:
If the property was bought through foreign exchange sources (through normal banking channels/ NRE debit/FCNR account), then amount repatriated cannot exceed:
If the property was bought with Indian rupees, NRIs who want to buy real estate in India can remit not more than 1 million USD per financial year from balance held in NRO account.
Rental income from any real estate in India can be repatriated after deduction of tax. But amount repatriated cannot exceed the amount paid in foreign exchange for property.
For NRI investment in India, acquiring the property in itself is not taxable. However, the following are subject to income tax: