Things NRIs Should Consider Before Buying A Home In India
05 Apr 2017
There are two factors that work in the favour of NRIs investing in real estate at this time – the recent price correction of homes, and the favourable currency rates.
As an NRI investing in property in India there are 3 things you should know before buying a home:
Tax and registration
Some of the charges incurred by an NRI investor is the property tax, stamp duty and registration fees. As an investor, it is recommended to consider hiring an accountant for overseeing the paperwork and property tax.
Watch out for finance schemes and offers
In recent years, attractive offers and schemes are more commonplace in the real estate market. The Confederation of Real Estate Developers Association of India (CREDAI) frequently holds exhibitions showcasing new developments in top cities of the county along with exciting offers. Alongside premium properties and lucrative deals, there’s also much to look out for in terms of finance schemes and allowances where the developer may cover the service tax, VAT or registration fees.
Banks loans & interest rates
In the case of taking a loan, banks are willing to pay upto 80% of the property price, the rest of the down payment is up to the home buyer to finance.
EMIs are to be paid in rupees, and hence the amount paid is susceptible to currency exchange rates or forex. Fluctuation in currency prices decide how much more or less you will have to pay for the property than originally intended. So it is wise to wait for favourable conditions before making your investment.
For NRI investors, Goel Ganga Developments presents a property that offers world-class features & an excellent investment opportunity.
Ganga Ishanya offers a higher view of life from meticulously crafted 3 BHK and 4 BHK luxury apartments for sale on Pune-Satara Road.