Non-Resident Indians (NRIs) are one of the wealthiest groups and are always watchful for different investment choices, to enhance and deal with their wealth. Real estate is one of the best profits for return on investment in India when contrasted with most different countries in the world. So, what makes India such an extraordinary prospect for NRI real estate investment?
Real Estate legislation: Real Estate Regulatory Act (RERA) is probably going to balance out valuing in the real estate segment, prompting a surge in the demand for housing. Designers will profit as the law has penal provisions for allottees that don’t pay on time. Under this ambit, engineers should submit layout plans, the course of events, cost, project details, and the sale agreement with the local regulatory bodies and enlist their project timely.
Foreign Direct Investment (FDI) in real estate: Under the programmed course, the non-resident investor does not require any earlier consent from the government or from the Reserve Bank of India to put resources into India. Investment is permitted in zones, for example, development of townships, serviced plots, and development of built-up residential and business premises.
Ease of doing business: Realizing the significance of FDI and the lift it gives to the nation’s economy, Prime Minister Shri. Narendra Modi has guaranteed a superior regulatory condition to draw in FDI. To this end, Prime Minister and his legislature have initiated a few plans and presented various policies, for example, Pradhan Mantri Awaas Yojana, improving the investment procedure in India. Unlike prior, now NRIs are not required to necessarily fly down to India to finish the transaction.