India has become the fastest ever-growing economy, opening the door to many foreign investments at large. All these investments and constant demand for housing solutions have led to the boom- the real estate sector is enjoying today. Since its inception, the real estate sector has only witnessed growth and now is faster than ever despite the pandemic.
The pandemic has made people realize the importance of owning a home in their motherland. The Indian government has introduced numerous benefits for NRIs investing in the properties. All lands except for the agricultural lands are available to make investments and reap benefits. Recently, the purchasing procedure has become entirely hassle-free. Here are some more reasons to invest in Indian real estate.
2. India has become the fastest ever-growing
economy, opening the door to many foreign
investments at large. All these investments and
constant demand for housing solutions have led
to the boom- the real estate sector is enjoying
today. Since its inception, the real estate sector
has only witnessed growth and now is faster
than ever despite the pandemic.
3. The pandemic has made people realize the
importance of owning a home in their
motherland. The Indian government has
introduced numerous benefits for NRIs investing
in the properties. All lands except for the
agricultural lands are available to make
investments and reap benefits. Recently, the
purchasing procedure has become entirely
hassle-free. Here are some more reasons to
invest in Indian real estate.
4. 1. Mode of extra income
This period of transitioning into the urban lifestyle is
witnessing a high swell. Therefore investing in a
property and renting it out later is can help you earn
an extra income regularly. If we estimate the revenue
generated from renting the property, you may reap up
to 200 % returns on the initial investment. If you wish
to resell a house after a while, three years is an ideal
time to wait. Within three years, the property rates
usually go high due to the constant development in
the country.
5. 2. Ample of investing options
Initially, the metro cities were a plethora of real estate
investments from the NRIs as they were most
beneficial when it comes to buying a property.
However, it held back many people to invest in
property due to the sky-high rates. Since 2014, India
has been undergoing rapid development, especially in
the real estate sector in tier-II and tier-III cities. This
development has opened many avenues for NRI
investors to find their perfect investing options in any
city they like at fair rates.
6. 3. Constantly declining INR
We are all upset with the constant decline in the rupee
as it indicates a damaged economic situation
concerning the country. However, it has made more
NRI investments possible. The property rates are now
cheaper and much more affordable than any foreign
currency. It means that NRIs can buy more land in
India in their budget than the space available in the
foreign lands.
7. 4. Relaxed investment laws for NRIs
To make the market much more approachable for the
NRIs- RBI has eased some investment laws to favour
the NRI investments. Now, the property buying
process in India is much faster and requires less
paperwork than before. The compulsion to acquire RBI
permission before buying a property is revoked.
However, a permit is needed in the case of agricultural
land.
8. 5. Transparent transaction
RERA act was passed in 2016 to reduce the delay of
project compulsion and fraud associated with buying
properties. The act has empowered property buyers.
Dealers and developers are now compelled by the law
to disclose complete information about the property.
RERA also gives investors many privileges along with
rights. Implementation of GST is an added benefit for
the NRI investors as now they cannot be duped into
paying extra money for the property due to this
uniform tax system.
