The Indian real estate market has been seeing tremendous growth over the past few years. Moreover, the NRIs’ looking forward to investing in the country has increased compared to the previous years.
NRIs from developed countries such as the United Kingdom, the United States, the United Arab Emirates, and Canada were already major investors in India. The skyrocketing financial market in India has further triggered the psyche of Indians living abroad to consider returning home and settling down in the future. This is why residential real estate investment has increased, accounting for 42 percent of total GCC inflows.
Similarly, the real estate companies in Hyderabad are making better profits by serving their large NRI client base. This article is for you if you are an NRI who wishes to invest in the best real estate in Hyderabad.
Top Reasons for NRIs’ to Invest in Indian Real Estate
There are many opportunities for Non-Resident Indians to invest in real estate in India, and the top real estate companies in Hyderabad would help you make a wise decision.
Urbanyards is the most promising and trusted partner for its clients. It is also one of the leading and top 10 real estate companies in Hyderabad.
Let us see the reasons why one should start investing in real estate in the country.
Robust Economy of the Country
India has weathered the global financial crisis. Thanks to a high-quality, resilient, and transparent economy supported by a strong banking sector that promotes the growth of real estate in India.
One of the largest and oldest stock exchanges in the world is the Indian Stock Exchange. It boasts returns on investment of more than 15% each year for the past ten years, is effective, less expensive, and has a modern environment.
Diversity of Investors
Numerous industries have become open for investment due to the robust service industry. Investors are also acquiring the knowledge necessary to make investments in knowledge-based industries.
India is the youngest nation in the world and has a working-age population that makes up over 64% of the total population. Thus, there is a lot of room for productivity and innovation, which will help to accelerate economic growth.
Rapid Growth of the Market
Due to the rapid growth of the Indian market, traditional investments are being replaced by stock-based instruments among Indian investors. It’s a terrific moment to invest in India because of the expanding market and stock values.
Friendly Market that Supports Investors
NRIs are shifting their investment attention toward India due to the Indian government being friendlier to foreign investors and the RBI and SEBI creating many rules and guidelines for supporting FDI or Foreign Direct Investments.
According to numerous predictions, India’s NRI investments will reach a record high of INR 96 CR in FY 2021. This record-breaking real estate investment is credited to the creation of RERA. NRI investors are now more confident in making investments in India. They receive reliable developers and properties currently registered under RERA, as well as a more straightforward method for engagement.
Increasing Demand for Ready-made Homes
The desire for pre-built homes that are safe and secure and guarantee the availability of all the necessities of a contemporary lifestyle is also on the rise. Due to the lack of goods and service tax (GST) on resale flats, there is also an increase in demand for homes that are ready to move into or developments that are nearly finished. In addition, the recent fall of the Indian rupee means that NRIs now have a profitable bargain in their hands and must invest less money to buy a home.
Let’s see the procedure NRIs should follow before buying any properties in India.
Here is a quick list of everything you will need at each step.
Documents you need before buying a property:
Passport and/or OCI Card:
You’ll need to present your Indian passport and OCI card if you have an OCI (Overseas Citizen of India) card or a PIO (Persons of Indian Origin) card. You can purchase a property in India even if you have a foreign passport.
It is mandatory for all property transactions.
Power of attorney:
If you cannot complete the purchase transaction in India, you must present a power of attorney. Please be aware that you cannot carry out a real estate transaction without a special power of attorney that is notarized and registered.
How can you execute a Power of Attorney?
Using a power of attorney, you can give someone in India the authority to carry out transactions on your behalf. You must sign the POA before a consular representative or notary public in your home country. They will also need to vouch for it.
Make sure you review and double-check all necessary documents to ensure a seamless transaction and a hassle-free ownership experience.
- Title deed (in the name of the seller). You need to be aware of the special papers required by some states.
- Approved plan
- Building permit
- certification of occupation (in case it is a ready building)
- Any older title deeds
- current encumbrance certificate
- share registration (in case it is a cooperative housing society)
- The society’s RERA registration NOC (if applicable)
- If all of these documents are valid, you
Documents required for registration:
For the sale deed registration, you will also need to produce proofs of your current address (such as utility bills) and your identity (such as your passport and PAN card).
To summarize, out of the several investment options available, Real Estate in India has become the most viable option for Non-Resident Indians. If you are an NRI looking to invest in land and open plots, we suggest you contact Urbanyards, the best real estate company in Hyderabad. Please start your investments now with the most trusted partner in real estate.