Investing in a home is a significant milestone, and for Non-Resident Indians (NRIs), purchasing property in India is both a practical and emotional decision. However, the homebuying process involves a plethora of paperwork and documentation. In this guide, we'll walk you through the essential documentation required for NRIs to buy a home in India. Passport and Visa Documents: The foundation of your...
2023
NRI (Non-Resident Indian) homebuying in India is governed by specific provisions and regulations to ensure transparency and fairness in real estate transactions. Here are some key points to consider: Definition of NRI: An NRI is an Indian citizen who resides abroad for employment, business, or other purposes for an indefinite period. Property Types: NRIs are allowed to buy both residential and...
A general overview of the home loan process in India for Non-Resident Indians (NRIs). Eligibility Criteria: NRIs are eligible to apply for home loans in India. However, specific eligibility criteria may vary from one lender to another. Generally, NRIs need to have a regular source of income, a valid passport, and need to be of a certain age to be eligible for a home loan. Documentation: NRIs need...
Ownership rights for Non-Resident Indians (NRIs) regarding property in India are well-defined. NRIs are allowed to own property in India, which includes both residential and commercial properties. The acquisition of property is subject to certain conditions and restrictions as per the Foreign Exchange Management Act (FEMA) regulations. NRIs can own property by: Purchase: NRIs can purchase...
Joint property ownership is a legal arrangement in India where multiple individuals collectively own a property, such as land or a house. This ownership structure has both advantages and disadvantages. Pros: Shared Financial Burden: Joint ownership allows multiple parties to pool their resources and share the financial burden of acquiring the property, making it more affordable for everyone...
Any investment should be made as per their appetite, balanced with the risk and reward model. If compared with real estate vs fixed deposit, it is a combination of low risk, medium risk, and high risk considering its term of duration and appreciation of money or money’s worth. FIXED DEPOSIT IS A SAFEST FORM OF INCOME Fixed deposit is always considered the safest form of investment with a fixed...