NRI (non-resident Indians) or anyone with an Indian passport is legally permitted to can legally buy/sell residential and non-residential properties in India. However, the law prohibits NRIs to buy agricultural land, plantation property, and farmhouses.
Affordable prices, higher returns:
NRIs typically invest in real estate in India, since the sector is booming and gives great returns. The deteriorating rupee exchange value, make buying real estate quite affordable for NRIs.
Some benefits that NRIs can avail by investing in real estate, especially ace projects like the provident park square are:
1. Tax Exemption:
NRIs can save tax just like any other citizen of India. Under section 80C NRIs can claim a deduction of up to Rs.1 lakh.
Apart from this if you sell the property within three years from the date of acquisition, it will be considered as a short-term capital gain, and the income through the property is taxable. In the case you sell the property after three years of its acquisition, you can reduce the tax burden significantly.
2. Attractive investment options and high rental income:
NRIs typically want to invest in projects that offer high-returns and are a safe long-time investment. The price of real estate in India are competitive compared to developed markets like the US, enabling NRIs to invest here.
Properties such as IT buildings, malls, office spaces can be leased and generate good rental income. NRIs buying properties with clear titles like the Provident park square can easily manage the asset with remotely.
Also, investing too much of your savings can cause a strain on your budget. It is thus suggested that you opt for home loan in order to lessen the burden of payment and repay the loan as per your convenience. Bajaj Housing finance offer low interest home loan. before availing you can calculate EMI by using Home Loan Calculator.
Bajaj Housing Finance is the best option to finance your house. "
