Until a real estate project is fully developed and occupied, the sales or site office is its nerve centre. Apart from the online space, it is the primary bridge connecting developers to their customers and vice versa. From here, customers can seek and obtain critical information, clear doubts and have queries answered
Indian real estate is one of the most attractive investment destinations, especially for Non-Resident Indians (NRIs). The total NRI investment in primary Indian real estate in the top 8 significant cities will reach about USD 11.5 billion in 2017, according to Square Yards, an investment advisory firm for real estate. The NRI investment sentiment has improved significantly in India due to the progressive regulatory reforms and ease of the NRI investment process
The Indian real estate saw a significant bounce back from the aftermath of the Covid-19 pandemic. The incentives announced by the government and lower interest rates fuelled the dream of owning a home among Indian families
The implementation of RERA has ushered transparency in the real estate sector. It has resorted and over the past few years strengthened the confidence of home buyers in the sector
The pandemic has played a significant role in changing the perception of home-ownership for all, especially for the NRIs who look to own a home in their native place
The fifth episode of ‘On The REcord – Decoding Realty’ titled ‘Country Roads, Take me Home, An NRI Exclusive’ was aired on 17th November 2021. An expert panel shared insights on factors that NRIs should focus on when buying realty in India for living and investment purposes
It is becoming a challenging task for Non Resident Indians to invest in Indian property as rupees are touching the grounds in comparison to the dollars. Different cities from Delhi and Mumbai to Gurgaon and Noida, every town offers commercial property for investment purpose
Most NRIs have families back in India - but even otherwise, most non-resident Indians maintain a deep emotional connection with their homeland. The desire to own property is a defining characteristic of all Indians, irrespective of whether they live and work here or abroad. During the Indian festive season, many visit India to take the plunge
The regulatory environment has dramatically evolved over the last one year. Favourable norms for investors and end-users, with increased transparency & accountability as well as the establishment of escrow accounts under the Real Estate (Regulation and Development) Act (RERA), and an encouraging dollar exchange rate for NRIs make it a highly lucrative time to invest in residential property in India
The Indian property market is already turning the corner after many years of sluggish growth. Several markets are witnessing good business with interest of buyers increasing after the pandemic
The best investment on earth is Earth. Are you someone who possesses commercial real estate assets in your portfolio? While the stock markets are currently going volatile and the less risky assets are providing no return on investment, the commercial estate properties are continuing to provide great rewards to investors
In case you are a non-resident Indian (NRI) who is planning to buy a property in India, there are a few things that you should always keep in mind before you make an investment. Will or fate might have paddled you overseas and given you the tag of an NRI but that doesn’t set you apart from any other regular Indians residing within the boundaries of the country especially when you are willing to buy a property. NRIs have played a pivotal role in the Indian real estate market over the years
The investments from the Non-Resident Indians (NRIs) have surged in the FY 2021 to $13.3 billion from the earlier estimate of $13.1 billion according to a report published by 360 Realtors. The same report states that the investment volume has climbed upwards by 6.4% compared to the previous financial year despite the pandemic and the buyers’ sentiments plummeting downwards
It’s important that NRIs should first look at their goal and risk profile before making a decision. Similarly, investment instruments like MFs, equity markets, NRE deposits, and more have their restrictions
With more people willing to pay a premium for open space, prices have risen between Rs 5,000 and Rs 12,000 per sq. ft. in cities such as Mussoorie and Shimla in the last few months.
For starters, any transfer of property to non-resident Indians (NRIs) and persons of Indian origin (PIOs) must comply with the Foreign Exchange Management Act (FEMA). The person bequeathing the property should have also acquired it in compliance with FEMA regulations or any other foreign exchange law in force at the time of acquisition of the property
Can NRIs buy real estate in India? Most people ask this question, and the answer to this question is yes. The RBI's circular now allows Non- Resident Indians to purchase certain types of property. However, other types of property can also be purchased after it is approved by obtaining special permits.
NRIs buying real estate in India should understand the legal requirements for owning real estate within the country. According to the Foreign Exchange Management Act's (FEMA) provisions, Person of Indian Origin (PIO) and NRIs are treated the same when investing in real estate in India
India has been a beneficiary of significant remittances, in fact in the calendar year 2020, India has received the highest remittance of $ 83 billion amongst all the nations, credit for these generous remittances is attributed to the contributions made by the bourgeoning and vibrant Indian diaspora thriving in different corners of the world
The most common doubts that can be served along with the morning breakfast to an NRI would be around filing Income Tax Returns. Many NRIs from all around the world repeatedly ask our taxation experts whether they need to file their ITRs in India or not! Is it mandatory? Differences between various ITR Forms for NRIs? How can they manage double taxation on the same income source and whatnot! In this article, let’s answer these basic doubts along with understanding the aspects of NRI Income Tax e-filing and its benefits. Yes! That’s right. Not only filing your returns in India as an NRI is easy and convenient but beneficial for you as well. The Union Budget of 2021-22 has eased the processes further with certain relaxations for NRIs. Let’s glance through the top 10 benefits of filing ITR for an NRI
NRI Tax Filing Deadline Updated: Through its latest circular (08/2021; F.NO. 225/49/ 2021/ITA-II) dated 30th of April, 2021, The Central Board of Direct Taxes has extended the Income Tax Filing deadline till 31st May 2021 from 1st April 2021 previously
The current pandemic has paved way for a lot of NRIs returning to their home countries. This has led to the need of owning a house in their native countries
While Mumbai is famous for being home to the Bollywood industry, it’s also a hotbed for real estate investments. This sprawling city has witnessed immense capital growth and infrastructure development in recent times, offering diverse real estate options for buyers on the lookout
An estimated 30 million NRIs living in 160 countries are looking at India for real estate investment opportunities. India has been consistently notching up the top slot in expatriate remittance for years now from $55.6 billion in 2010-11 to $64 billion in 2020
While work may not be affected in such a scenario, tax implications have changed significantly for these individuals. If you're an NRI stranded in the country, here are five things you need to note, to calculate the taxes you owe the Indian government
To promote ease of tax compliances, the government may re-introduce simplified tax return forms for NRIs who have no capital gains or business/professional income in India or having income within specified thresholds
When a house property is sold, after a period of 2 years (Reduced from 3 years to 2 years in Budget 2017) from the date it was owned – there is a long term capital gain. In case it held for 2 years or less – there is a short term capital gain
On an average the annual renal is 6 % – 8% for a commercial property compared to 1.5 % to 2.5 % on residential property depending upon the property location
A city of mangroves and flamingos; a seaside metropolis steeped in commerce; a powerhouse of arts and culture: Mumbai’s eclectic appeal draws people from across the world. Among them are many NRIs (non-resident Indians) who aspire to own real estate in Mumbai. And if you’re one of them, there’s good news—Snapping up your dream house in Maximum City just got a lot easier
NRIs seem to have seen the pandemic as an opportunity to seek to invest. Many are considering moving back to India. The bottom line, however, seems to be that real estate could recover on a nice tailwind from NRI buying property in India. But are they?
If you were living abroad for several years, wouldn’t you want to have some tangible connection to your roots? What better way to do this than to buy a slice of land in the country of your origin? This is exactly what the non-resident Indian (NRI) is doing; more so, as a result of the present pandemic. Let’s explore the reasons for this phenomenon that is taking Indian real estate by storm
NRI has an affection for the niche micro-markets within MMR, Pune, Noida, and Bengaluru. Many residential projects (both affordable and luxury) have come up in these major property investment centers
Real estate has a multiplier effect on the Indian economy with several allied industries reflecting the changes in this sector. Recognizing this, the government announced several initiatives to encourage investment in the sector
The top court also clarified that the present provisions serve a specific policy objective to ensure the right of the NRIs to occupy their property in the UT of Chandigarh and the state of Punjab after “returning” to their country.
India is one of the fastest growing real estate markets globally and the residential segment is a major contributor, accounting for 80% of the overall market.
On an average, at least four of the 10 customers purchasing flats in the city and its suburbs happen to be such ‘local’ NRIs who want to spend their retirement life back home.
The top court also clarified that the present provisions serve a specific policy objective to ensure the right of the NRIs to occupy their property in the UT of Chandigarh and the state of Punjab after “returning” to their country.
It was the third straight month of sharply higher sales after a record decline in April, when businesses were closed to help contain the coronavirus pandemic.
Geberit said its second quarter operating profit fell 20% to 161.9 million Swiss francs ($178.84 million) while net income dropped 24% to 131 million francs.
The UK government in July offered about 3 million British National Overseas passport holders in Hong Kong a path to British citizenship after Beijing imposed sweeping new security legislation in Hong Kong.
With prime office blocks lying empty around the world, hotels half-vacant and retailers struggling to stay afloat, the funds are retreating from many of the real estate investments that have long been a mainstay of their strategies.
Revenue from operations came down to Rs 757 crore in Q1 FY21 as against Rs 1,469 crore in Q1 FY20. Total expenditure also fell to Rs 734 crore from Rs 1,367 crore in the same period.
The second half of the FY21 could see more whirr and hum, it said. A volume could retract by a third on-year in FY21, especially since public spending would be diverted towards healthcare and public welfare, it added.
