India - The preferred real estate investment destination for NRIs
India remains one of the world’s fastest-growing economies. There’s never been a better time to invest in real estate in India. Let us help you throughout the pre-and-post-purchase process.
Under RBI guidelines, Non-Resident Indians (NRIs) can purchase particular properties, though other forms may require special permissions. Thus every NRI interested in buying property in India must be aware of the provisions related to the purchase or ownership of immovable property in India under the Foreign Exchange Management Act (FEMA). Persons of Indian Origin (PIOs) and NRIs are treated the same while investing in real estate.
The Reserve Bank of India (RBI) has given general permission to NRIs for any residential or commercial property in India. In this regard, they do not need to seek special permission from RBI or send any intimation. NRIs can purchase any number of commercial or residential properties in India. The income tax laws also favor NRIs. In any case, the NRI cannot come to India; they have the authority to give anyone power of attorney who will execute the deal likewise.
However, the RBI does not allow NRIs to purchase agricultural land or plantation property in India. Under existing regulations, NRIs can’t purchase farmhouses in India. To purchase farmhouses, the NRI has to take special permission, which is considered on a case-to-case basis. An NRI can buy property jointly with another NRI. However, if any person is not authorized to invest in Indian property, they cannot become a joint holder irrespective of the contribution towards the purchase.
If a person who owns a property in India becomes an NRI, he can continue holding the property in his name in India. Interestingly, an NRI is allowed to invest in agricultural land, farmhouse, and plantation property if he purchased them before becoming an NRI. He can also let out the property without considering when it was acquired. It is possible to remit the rent received from such properties after appropriate Indian taxes are paid on such rent. NRIs can also gift or sell any immovable property to any person residing in India.
The NRI can even gift or transfer any property to any NRI, provided it’s not a farmhouse, plantation, or agricultural property.
We are yet to get our flat, but as of now overall construction is going on as the way they promised. Coming to sales teams,Thanks to Rohith, we have got every support we wanted. He is very friendly and well mannered. It has been a very good experience with Rohith and Hallmark ...till now ... We expect the same in future too.
Hallmark is the brand well known for their excellency in building high quality projects with great architecture and delivery on-time. Hallmark Treasor is one of the best luxurious high-rise residential projects strategetically located in Kokapet area with pretty good connectivity to IT corridor, ORR, international schools, multi-speciality holspitals, and malls. Project has great aminities that suits to all your family needs. With lot of research and dreams to buys our future nest, we finally selected Hallmark Treasor as our best match and booked the flat. We are super happy with the kind of support that we got from staff (expecially Mohammed Irfan) who helped us in explaining every detail about project, answered all our questions patiently, and closed the deal with best price in the market. Thanks to Hallmark and looking forward to see ourself in our future nest.
In this locality of Narsingi this si the best project, the kind of build quality or the materials that they are using is really good, from a landscape standpoint it's very spacious. The seem very promising to handover by Dec. Besides this the entire process of finalizing this project has been seemless with help of sales team . Speacial thanks to Venkat and Pramod who has advisors as well.
I am one of the owner and i can tell you the quality they are giving is very good, it’s located near to new orr exit which is very useful and in future we are expecting metro station as well in narsingi. Near by you will get everything. CRM team Nagarjuna and Nitish are helpful from there end and from sales team Venkat and Pramod were helpful during purchase. I liked the floor tiles they used. Even bathroom fittings are very good. Little bit disappointed with the deadline of the project.
I am sharing my experience with HallMark builders. They are the premium builders in hyderabad. I went for site visit and the way they explained about the property has resolved all my doubts regarding the property. They have helped my all queries regarding the construction, developement, etc. They have good construction quality, on time delivery, good customer queries response, very nice amenities. Overall one can be very much satisfied when comparing to other builders.
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