India is a country with a population of 1.3 billion+ people. Due to its growing economy and other factors, it’s an attractive destination for buying real estate properties. As an NRI, if you’re wishing to invest your money in your own country, then real estate is the wisest.
There are so many reasons other than these to invest in the Indian real estate market. In this article, we have rounded off a few top reasons why NRIs can buy real estate properties in India.
Without any further ado, let’s dive in.
Reasons for NRIs to Invest in Real Estate Property in India
With India’s booming real estate sector and strong economic growth, NRIs should consider investing in this vibrant market. From gaining an attractive return on investment to benefiting from various tax exemptions that could save a significant sum of money over time – the advantages are plentiful for those who choose to put their money into Indian property!
1. Value of Indian Currency
A perfect money-saving tip, as recommended by finance experts is, investing in real estate properties.
While you do money-savings, after a certain period, you’ll not get anything in return other than what you saved. On the other hand, investing in land & properties will eventually generate an income for you.
Especially with the ratio of rupee value of Rs.70-75 to that of a dollar, investing in a real estate property with your foreign earnings is so affordable at the same time lucrative too.
2. A Home to Reside
As an NRI, you may be a person visiting India rarely, during such times, you’ll know the importance of the individual home/apartment you’ve brought then.
There is no need to stay in a relative’s / friend’s home, you can feel free in your own place. You can save a lot of money spent on hotel bookings.
If you don’t visit frequently, then the best you can do is, rent out your property. And, you may be planning to take your children to India, you can make them learn about Indian cultures practised within a home.
3. Offer Potential Returns
When you look at other investment options like gold, deposits, share market, and others, each one is challenging in its own way.
As you invest in gold, the charges they incur for damages will reduce its value and returns will be low. In fixed deposits, the interest rate will be of a minimal percentage. Share market returns can never be predicted.
Compared to the difficulties and returns in all these, a real estate property will get you more returns through rental payments and reselling prices.
4. Simplified Buying Process
Few matters seem to be favourable for NRIs to invest in Indian real estate properties. Foreign currency exchange is so common in India. Then, the taxation regime is so simplified.
Tax incentives such as exemption from capital gains tax on sales can be availed by NRIs. And moreover, the payment process is straightforward.
NRIs can directly transfer the money to the builder’s account at the time of purchase or transfer it through your NRO account. Only thing, you need to be focused on is to have all your documents in-hand so the process moves on hassle-free.
5. Multiple Types of Property are Available
In India, you have a variety of property choices to choose from. There are premium apartments, individual villas, gated community apartments, and many more. Also, it’s nothing like only people with high budget can buy a home.
There are studio-type apartments, unfurnished apartments with 1BHK/2BHK. Based on your budget and requirements, you can buy one without breaking your pocket.
6. High Resale Value
Real estate has captured a market position in India. As long as humans exist, real estate too will. In India, the value of a property will probably increase as time goes on. If you’ve noticed, the price for a real estate property 10 years back will not be the same or less than now, the price of the same might have increased by a minimum of 10-20%.
Hence, it’s never a question to invest in Indian real estate lands & properties. A property you pay for now will yield good returns incase if you’re selling it out in the future.
7. Growing Population in India
Population stimulates a big demand for the real estate market. India stands second next to China in population rates. As of 2021 population reports, there are approx. 139.34 crore people in India.
With that being said, people will need a home to reside. So, now is the right time for you to buy a property. Either you can rent it out to people and get monthly rentals. Or, you can lease it out for a specific period of time.
Final Thoughts
All these reasons will make your real estate deal profitable in India. Tax incentives, resale value, affordable price and potential returns will make you feel happy that your decision of buying a property in India is right!
During the registration, you’ll need to submit several documents, being aware of all these documents can make the registration process seamless. Once you’re ready with these documents, you can take it forward and look out for properties in India.
Happy home-buying journey!