No matter where you go, your homeland always has a piece of your heart… and some property!
This is the mantra that Indians mostly follow. Our roots mean a lot to us and that is why, regardless of where we settle, we always have an attachment to our homeland – emotional, physical, and financial.
NRI investment in real estate in India is nothing new. It has been the norm for many years and recent reports say that it will spike further by around 12%. The driving force behind this is not just emotional. Real estate investment in India is lucrative for many other reasons as well. We have enlisted a few of them for you:
Complete transparency
RBI guidelines for NRI investment in India are very clear. They encourage NRIs to invest in India by making it easy and transparent. The RERA Act, 2016, in particular, makes it compulsory to disclose any and all details about the property. This means that no seller can bluff or take advantage of any buyer.
Simple taxation rules
The Income Tax Act of India simplifies a lot of things for NRI investors. It also allows deductions under the sections 80TTA and 80C. Money transactions are also straightforward because it allows NRIs to transfer money to the NRO account to make payments. The entire process is hassle-free and quick.
Easy passive income
NRIs can easily buy property in India and rent it for passive income. The revenue will soon surpass the investment and anything more than that is a profit. The only thing to note here is that there will be some tax compliances. But, they are not complicated at all.
Increased value due to falling rupee
Currently, the rupee is quite weak (INR 75 against a dollar) and this is another solid reason why NRI investment in real estate in India has seen significant growth. The investment you make at this moment will be low. As & when the rupee strengthens, the returns will increase.
A great retirement plan
Real estate investment in India will give you returns even after retirement. The rental income will more or less be sufficient to help you lead a peaceful and stress-free retired life. Plus, if you decide to return to your country at any point, you will have a home to stay in with absolutely no complications or problems.
High demand = high returns
The real estate industry suffered a lot through the pandemic but things are rapidly coming back to normal. Offices have reopened and youngsters are migrating to different states for work purposes. This has increased the demand for co-working spaces, co-living spaces, offices, commercial properties, rental homes, etc. Jumping onto the bandwagon now almost guarantees excellent ROI. So, why shouldn’t NRIs cash in on the opportunity?
Conclusion
Whether it’s for comfort or investment, NRIs always turn to their homeland. The Government has done an excellent job in encouraging NRIs to invest in India and NRIs have truly risen to the occasion.
If you are looking to invest in India, we invite you to explore the ongoing and newly launched projects in Bangalore by Address Maker.
