India: Investing in culture

By 2022, NRI investments in the real estate of our country are expected to be 30-35 percent of their total remittances. India is a country to several homes and with the dream of every Indian of having a home makes this country an appropriate destination for various home seekers and home buyers from all over the world. Today with great reach and a never-ending list of sources, India is a country where every NRI or a foreigner wants to invest in this beautiful land of culture. But a never-ending tale of questions and chaotic legal abstracts sometimes hits the mind of several people before investing in India. If you are the one wanting to invest in India, Here is the list you should consider. 

1.Nature Of Property: 

Apart from agricultural land and farmhouses and States with Article 370, NRI’s can invest in real estate without any hesitation. Proper documentation and a clear record allow you to invest in Indian land. 

2.Power Of Attorney: 

Sometimes there is a strong need for a POA while buying the land in another country and hence to solve this purpose a POA can be assigned to do the legal tasks and documentation with an agreement assigning your relative, friend, or known to handle out the property legalizations and formalities. 

3.Home loan: 

Reserve Bank of India solves your purpose of buying land by granting a home loan via several banks and authorities. Any NRI can get a loan with proper documentation with NRO/NRE for FCNR Deposits. 

4.Taxation: 

With TDS calculation at the rate of 20.6 percent for long-term capital gains and 30.9 percent for short-term capital gains, NRI can easily pay off their taxes with final deduction same for non-residents and Indian Residents.  

 

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