Living an NRI life is different. NRIs are simply labelled as a bunch of people who live abroad. NRIs can be broadly divided into categories: The Never Return to India and The Now Return to India. Unfortunately, most NRIs abroad are stuck in a vicious cycle of wealth and social pressures, and unable to break free of the social barriers and come back home. This said NRIs feel that making property investments in India can offer lucrative business opportunities. Real estate investment is considered one of the safest and proven ways of making good returns. The new real estate rules allow any NRI holding an Indian passport to invest in real estate properties, providing the property is not a plantation property, farming land or a farmhouse. Here are a few tips for NRI property management in India.
# Search for the right property online. Check all relevant and pertinent details including information about the project, the locality, the builders and others if you’re an NRI buying property in India. A personal property consultant should help you with making the right choice involving property options, investment goals, preparing documents, closure, etc.
# Make good use of social media, blogs and real-time reviews on upcoming projects, project status and real estate properties that are NRI specific. Check for NRI property management services that have information and transparency at the heart of their operation.
# It is important to have an NRI account in an authorized Indian Bank. All property-related transactions should be transparent so that any possible disputes are resolved through the right channels.
# Government rules and policies regarding NRI property investment in India should be checked regularly as they may affect investment, directly or indirectly.
If you’re an NRI looking for the right service provider to manage your real estate investment in India, then talk to Reach NRI Services to maximise asset value in line with local or state compliance authorities.