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A Few Important Decrees for NRIs to Follow in Indian Real Estate PowerPoint PPT Presentation

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A Few Important Decrees for NRIs to Follow in Indian Real Es...

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Housing finance companies

A Few Important Decrees for NRIs to Follow in Indian Real Estate

  • In the recent past, it has been evident that Non Resident Indians (NRI) is showing a lot of interest in buying properties in India.

  • The falling value of rupee in the world market is one of the main reasons for NRIs to invest in the Indian real estate market.

  • Not only that, a chunk of them wish to have a home back here in India due to the emotional connect they have with the country they belong.

  • An NRI may be asked to furnish a Power of Attorney (PoA) by the developer favouring them, in case of buying an under construction property.

  • This makes the documentation work swift and easier for housing finance companies.

  • It can be given to implement any contract, mortgage, lease or even sale. So, before issuing the PoA, it is always important to consult with a professional lawyer.

  • The other condition for repatriation is that it cannot exceed the foreign exchange amount paid via banking channels, while purchasing the property.

  • It has also to be kept in mind that an NRI cannot repatriate for more than two properties.

  • [Source: http://ezinearticles.com/?A-Few-Important-Decrees-for-NRIs-to-Follow-in-Indian-Real-Estate&id=9198452]

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