Rules That NRI Investors Should Follow

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Rules That NRI Investors Should Follow
Mar 2018
In Green Homes
This could be the appropriate time for
non-resident Indians to invest in residential
projects- an upcoming law would guard them
against wrong-doings new tax system will
simplify things the push by the government
towards affordable homes will make deals much
sweeter and on top of it, the Indian currency has
been falling against the dollar. For the
mentioned reasons above and many more, it is
pretty hard to resist the charm of Indian real
estate is oozing currently.
While you going for it, we suggest you ask these
three questions and go ahead after having the
satisfactory answer. This would make sure to
investment remain risk-free.
Who is your developer? It would become a lot
safer to invest in the Indian realty after the
Real Estate Regulation and Development Act, 2016,
comes into the force. As law mandates all the
developers to be registered with Real Estate
Regulatory Authority to do the business in India,
medium players and umpteen small would cease to
exist. Real estate would become a field where
serious players would be allowed to operate. It
would, however, be safer to stick with trusted
names this doesn't mean buying the properties
only with bigger names which charge a premium
from the buyers as of popular brand tags. Not
bigger target should do fine if he has been the
performer. Also, do look at track records of
developers which could be location specific. For
example, if you want to purchase an apartment in
Bangalore, a local developer could be the better
choice. Who is your advocate? The law does save
from all sorts of crimes but as well know the
prevention is better than the cure. This is the
reason why it is imperative you trust near and
dear ones with the responsibility of managing a
property in India. There have been numerous
reported cases in recent past where the landlords
living abroad have been duped by the
representatives in India. Be mindful of fact that
the representative could actually misuse the
power of attorney and dupe along other parties,
too. This is the best to bestow upon the trusted
ones the responsibility. In a vase, feel
relatives cannot be trusted the jib, can hire
people for same. Even if one has to pay these,
there are such risks surrounding the
property. Who is the tenant?
The representative found you a decent tenant, who
has agreed to pay you the handsome rent. You
spoke to that person on the phone and find him
nice. You think of meeting the tenant personally
but of course, it is not possible for you to
visit the home country any time soon. We still,
however, suggest personal meeting with the
tenant. The telephonic conversation is of course
not enough as far as the business alliance that
has legal implications are concerned. Also, there
have been reports that the premises of leading
actor were used to run some flesh trade in
Mumbai. A thorough inspection should be done way
before letting out the property.
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