Summary: 
Are you curious about the advantages of investing in flats as an NRI in India? Well, you have landed in the right place. This blog will offer valuable insights on why, as an NRI, you should invest in Flats in India and things to remember before investing. So let’s dive into the topic to gain more clarity. 

Introduction

If you are an NRI looking to make an investment in India, you must know that there are many benefits of investing in flats as an NRI in the county. The Indian real estate market is witnessing immense growth after its resilient bounce-back from the wrath of COVID-19. The Indian real estate market is thriving, with all kinds of properties facing substantial demand. Even though both commercial and residential properties are in good demand, as an NRI, flats are a great investment option. 

DID YOU KNOW?

According to IBEF, India’s real estate sector is expected to touch a US$ 1 trillion market size by 2030, accounting for 18-20% of India’s GDP.

The Indian Real Estate Scenario

Reiterating that the Indian real estate market has bounced back strong from the aftermath of the coronavirus pandemic, the industry offers a plethora of opportunities for Resident and Non-Resident Indians (NRIs) alike. All types of real estate, including commercial and residential real estate, are facing huge demand, thanks to the development taking place in the country’s IT, industrial, and Corporate sectors. 

This development has led to the need for more real estate spaces to accommodate the increased demand for commercial and residential spaces. To further elaborate on this, the growth in the sectors mentioned has led to more business opportunities, which has, in turn, led to the need for more commercial spaces to set up manufacturing units, offices, warehouses, and more. Thus, the demand for commercial real estate has shot up.

The growth in the Corporate, IT, and other industrial sectors has also led to more employment opportunities that have resulted in talent migrating to and fro cities. This call for more residential real estate, therefore increasing the demand for the same. 

The apartment culture in India has undergone great development, with more and more families preferring apartments over other types of residential properties. With home loan interests at an all-time low, homebuyers are more encouraged than ever and are flocking toward investing in apartments.

The low-interest rates, among other reasons, can be fruitful for NRIs looking to buy apartments back home in India. The next section will discuss the reasons why NRIs invest in flats in India. Keep reading!

Why Should NRIs Invest In Flats In India?

Apartments come with a wide range of benefits for the investor. It is one of the best types of residential real estate. Here are a few benefits of investing in an apartment:

• You also get an apartment in a prime locality for comparatively lesser prices. 
• You don’t have to work on maintaining the property personally.
• Finding tenants for apartments is easier, especially if it is located in a prime locality.
• You will have a sense of belonging to a community while living in an apartment.
• You will also have more access to amenities and proximity to local hubs.

These are a few advantages of buying an apartment. There is a whole set of reasons why NRIs invest in flats in India. Let us discuss some of them here:

Why Should NRIs Invest In Flats In India

1. Approval from the RBI  

NRIs who have a registered Indian passport do not need the approval of the Reserve Bank of India to invest in a flat in India. This simplifies the process of registering a residential property as an NRI. You don’t have to go through the entire process of applying for an Indian passport and fulfilling the requirements to actually acquire one. This is one of the biggest benefits of investing in flats as NRI in India. 

2. Tax benefits

The taxation is extremely straightforward in the country, epecially for NRIs who want to invest in real estate in India. The Income Tax Act of India offers a wide range of tax benefits for NRIs investing in property in India. This makes it an attractive venue for NRIs to park their excess money. NRIs can maintain a Non-Resident Operations (NROs), an account that allows them to manage their earnings from investment activities in the country like resent, share investment, pensions, and more. As an NRI, you can transfer your money to your NRO account to make the payment for the property you are buying. This is one of the reasons why NRIs invest in flats in India. 

3. Cheaper option

The falling value of the rupee against the price of a dollar is one of the biggest reasons why NRIs invest in flats in India. The total investment NRIs would make in buying an apartment is drastically low compared to the amount resident Indians make. This is because the value of the dollar is higher than that of the Indian rupee. This is one of the reasons the Indian real estate market is an attractive avenue for Non-Resident Indians (NRIs). 

4. Investor-friendly government policies

The Indian government is more encouraging towards foreign investors. The Reserve Bank of India and the Securities and Exchange Board of India (SEBI)’s policies are paving the way for more Foreign Direct Investments. This makes investment in flats for NRIs a hassle-free process, and the country is now attracting more investments from Indians settled abroad. This is also one of the reasons why NRIs invest in flats in India. 

5. The market is booming! 

Indian real estate market is currently thriving, thanks to the growth in the various sectors across the country. As discussed earlier, the growth in these sectors and the subsequent job opportunities created have resulted in an increased demand for both commercial and residential properties. Therefore, NRIs looking to invest in apartments in India no longer have to be worried about returns. These are a few reasons why NRIs invest in flats in India. 

Things To Keep In Mind As An NRI When Investing In Real Estate In India

Sure, there are a lot of benefits of investing in flats as NRI. But while doing so, you must keep in mind a couple of factors when you make the investment. You must be careful, especially as an NRI, because chances are high that you are not aware of the local factors. So, here are a few points you must consider while investing in a flat in India as an NRI. 

• You must ensure that the property you are buying is located in a prime residential area. The location elevates the value of the project and is therefore important for better returns. 
• Planning your finances is important, even if buying an apartment as an NRI will work out to be more economical for you. Consult a financial advisor for the same. 
• Choosing a reputed builder is also very important while investing in flats in India as NRI. Do your research and enquire about different builders before zeroing in on one. 
• As an NRI, you must also know that you are only eligible to invest in commercial or residential properties. You cannot buy other assets like agricultural land, farmhouses, and more.
• In case you are not physically present to facilitate the transaction, you must appoint a Power of Attorney to act and make decisions on your behalf. This is mandatory if you cannot be present to register the property.
• It is vital that your check all the necessary documents and legal formalities related to ownership to avoid further disputes in the future. 

These are some of the factors you must keep in mind when you invest in an apartment in India. In addition to this, you should also keep in mind your financial options and the tax regulations. Once you have this clear, then you are good to go ahead with your investment. 

Invest In A Flat With Tulive GK Shetty

 

If you are looking to invest in a flat in India, Chennai is a great avenue. Located in Tamil Nadu, it offers a balanced lifestyle and a rich real estate market. Tulive GK Shetty is one of the most reputed builders in Chennai. With aesthetically planned and built apartments across prime locations in Chennai, they are a renowned builder group that banks on the 6-decade experience of their parent company, GK Shetty builders.

They offer 2, 2.5, and 3 BHK apartments through their recent project Tulive BelleVue. BelleVue is a landmark construction in the posh residential area of Valasaravakkam. A breathtaking residential complex that is 5 floors tall, Tulive BelleVue houses a total of 79 residential units with amenities that will elevate your lifestyle.

Amenities at Tulive BelleVue include

• Gym
• Double-height lobby
• Landscaped seating area
• Party hall
• Open-air kid’s play area

Conclusion

With BelleVue getting ready at a steady pace, Tulive GK Shetty is known for their on-time delivery, high-quality apartments, and great pre and post-sales services. If you are an NRI looking to invest in a flat with great standards, then you must go for Tulive BelleVue. For more details about Tulive Gk Shetty, get in touch with them here. 

You can let us know your experience buying a flat in India and several other benefits you acquired in the comments section below.