in­vest­ing Check­list

Realty Plus - - Cover Story -

• Trans­ac­tions must be done in In­dian ru­pee (INR) through reg­u­lar bank­ing chan­nels via an ex­ist­ing NRI ac­count.

• NRI/PIO can in­vest in real es­tate by re­mit­ting fund to In­dia through Nor­mal bank­ing chan­nel or funds held in NRE/FCNR/ NRO ac­counts main­tained in In­dia.

• NRIS with a valid In­dian pass­port need no prior ap­proval un­less they are cit­i­zens of a Pak­istan, Bangladesh, Sri Lanka, Iran, Nepal, Bhutan, Afghanistan and China.

• NRIS can buy res­i­den­tial or com­mer­cial prop­er­ties but are not al­lowed to buy agri­cul­tural land, plan­ta­tion prop­er­ties and farm­houses. How­ever, such prop­er­ties can be gifted to or in­her­ited by NRIS.

• NRIS are el­i­gi­ble to avail loans to pur­chase a prop­erty in In­dia. The max­i­mum loan amount is gen­er­ally 80% of the prop­erty value. NRIS can lease or rent such prop­er­ties with­out any restrictions.

• Ac­cord­ing to the new FDI pol­icy, NRIS can in­vest in real es­tate de­vel­op­ment through In­dian com­pa­nies. There is a lock-in pe­riod of three years be­fore which the min­i­mum in­vest­ment can be repa­tri­ated.

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