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NRI INVEST PLATFORM
Real Estate Investment
Real estate sector in India is on upturn. Research estimates that Indian Real Estate market is expected to grow from the current USD 14 billion to a USD 102 billion in the next 10 years. The main growth thrust is coming due to favorable demographics, increasing purchasing power, existence of customer friendly banks & housing finance companies, professionalism in real estate and favorable reforms initiated by the government to attract global investors.
Potential Growth Areas
Indian real estate has huge potential demand in almost every sector especially commercial, residential, retail, industrial, hospitality, healthcare etc. Commercial office space requirement is led by the burgeoning outsourcing and Information Technology Industry. The leaders of the IT/ITES world have set up or are setting up their centers in India. Estimated demand from IT/ITES sector alone is expected to be 150mn sq.ft. of space across the major cities by 2010.In residential sector there is housing shortage of 19.4 million units out of which 6.7 million are in urban India. The increase in purchasing power and exposure to organized retail formats has redefined the consumption pattern. As a result the country has experienced mushrooming of retail projects across the cities.
Rules relating to NRI/PIO (Person of Indain Origin) investment in real estate have been considerably liberalized and simplified. Foreign citizens of Indian origin (PIOs) have been permitted to invest without the need to obtain approval from the Reserve Bank of India. With the passage of FEMA, the power to effect repatriation proceeds has been decentralized and delegated to authorized foreign exchange dealers. What is more, even the rental income can be repatriated now. It makes sense for NRIs now to earmark a portion of their investment portfolio in real estate and earn competitive return on investment. In exercise of the powers conferred by clause (i) of sub-section (3) of Section 6, subsection.
OVERSEAS CORPORATE BODY (OCB)
The various facilities granted to NRIs are also available, with certain exceptions, to OCBs so long as the ownership/beneficial interest held in them by persons of Indian nationality/origin resident outside India continues to be at or above the level of 60%.
FOREIGN DIRECT INVESTMENT IN REAL ESTATE
FDI provides for 100% foreign participation by NRI/OCB's in housing and real estate development sector in following areas:
* Development of serviced plots and construction of residential premises
ACQUISITION OF PROPERTY IN INDIA BY AN NRI:
A person resident outside India who is a citizen of India may acquire any immovable property in India other than agricultural / plantation/farm house.
TRANSFER OF PROPERTY IN INDIA BY AN NRI:
* Transfer any immovable property in India to a person resident in India.
ACQUISITION OF PROPERTY IN INDIA BY A PERSON OF INDIAN ORIGIN(PIO)
A person of Indian origin resident outside India may -
* Acquire any immovable property other than agricultural land/farm house/ plantation property in India by purchase, from out of
TRANSFER OF PROPERTY IN INDIA BY A PERSON OF INDIAN ORIGIN
A person of Indian origin resident outside India may -
ACQUISITION OF IMMOVABLE PROPERTY FOR CARRYING ON A PERMITTED ACTIVITY:-
A person resident outside India who has established in India in accordance with the Foreign Exchange Management (Establishment in India of Branch or Office or other Place of Business) Regulations, 2000, a branch, office or other place of business for carrying on in India any activity, excluding a liaison office, may -
* Acquire any immovable property in India, which is necessary for or incidental to carrying on such activity; Provided that
REPATRIATION OF SALE PROCEEDS:-
* A person referred to in sub-section (5) of Section 6 of the Act, or his successor shall not, except with the prior permission of the Reserve Bank, repatriate outside India the sale proceeds of any immovable property referred to in that sub-section
Prohibition on acquisition or transfer of immovable property in India by citizens of certain countries.
No person being a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal or Bhutan without prior permission of the Reserve Bank shall acquire or transfer immovable property in India, other than lease, not exceeding five years.
GENERAL INFORMATION REGARDING REAL ESTATE:
* NRIs and PIOs may acquire any immovable property for residential/commercial purposes in India, other than agricultural/plantation/farm house, without the permission of Reserve Bank of India.
* No taxes to be paid while purchasing property.
Buying / Selling Of Property
Today, property buying and selling has become faster, complex and competitive in all the ways. It is not just getting a property but fulfillment of a dream. Our main goal is to provide quality service to the people in acquiring their dream property. The member's contentment is foremost in all our services.
If you are a member who is thousands of miles away from the home country and want to own a property or you have a property for which you need to find a tenant or buyer, to handle the property or just want the property to be maintained, our Nrirealestates takes the pride to undertake NRI services with most care and caution.
We offer the following NRI Real Estate Services:
Invest in your motherland i.e. India a roaring economy to maximize your profit. Investment Services is our special endeavor to support NRI investments into the Real Estate industry in a reliable, transparent & convenient manner. We bring to you an exclusive range of residential lifestyle projects from the finest developers of India whose names signify quality developments.
(1) Property Search
If you want to buy a property in a particular area and you need to know the details of the same, we will give a report about the availability of the property through email. Under this package, we send you details of 5 premium properties in the location of your preference. These E-mails include details such as the seller’s contact number and address, the property description, the cost of the property and much more.We will promote your requirements in the city special page Send your requirements details to 1000's of sellers in your city and collect responses and send summary once a week, till we find the seller for your requirements.Advertise your requirements in the local news paper and collect the response and send summary for a week.We will also monitor newly added listings, If it suits your requirements we will call you and inform.
(2) Property Price Negotiation
If you have decided to buy/sell the property and if a request is made for price negotiation, our service team will negotiate with buyers and sellers regarding the price on your behalf. You can very well relax without any stress or tension, as once our service team takes up a task; it means ”YOUR JOB IS DONE”. As we are aware that a lot of formal and legal procedures should be followed during the deal, we assist you in all such essential transactions throughout the process of property negotiation.
(3) Property legal verification
Attaining the ownership of the property should be simple and without stress.Our Specialized NRI services team will deal with all the legal works to be carried out during the whole process. This online NRI service will make you feel easy to own a property sitting leisurely at your home.In case of the ordinary realtors there will be an instinct of fear in you whether the chosen property is worth enough to the payment made. Our team members will verify the property directly in person and confirm its reality.Once the service team concludes the process of legal verification, we make an assurance for the property after which you can splendidly proceed with the dealings with full confidence.
(4) Additional photos and video for property
Residing in some other country, you might not wish to buy a property with out having a glance at it. Hence, on your request, we provide you with additional photos and video which enables you to have a look at the property.
(5) Property Price Monitoring Charges
The property you already have in India are getting costlier with every passing day. We can monitor the price of your property on regular fortnight basis and will keep you informed by confidential e-mail with updated prices.
Bank: Axis Bank Branch: Ghatkopar(E),
Contact : Asmita Share & Stock Broker Vishwa Mohini, 198/5442 Pant Nagar, Ghatkopar(E), Mumbai:400075 INDIA, Ph:(9122)25085448 Mo : (91)9867704230 USA: +1 (713) 370-6255 (7.00-11.00PM IST) FAX :+1 (206) 309-3673 mailto:[email protected] Schedule Meeting
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