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16 July 2013

NRI investing in property in India some Tips Best Time to Invest in property

Global Home Loans
NRIs are making a beeline for investing in property in India, the reason is with an all time falling value of Indian Rupee they have to shell out less as in $. Though it seems to be the best time for investing in property in India every NRI must find out, enquire, and find the right source to get their deal on any property in India.
There are many agents and land dealers who promise too get you the best deals and with their heavy commissions sell land with unclear title or dispute property without your knowledge. hence the first thing while thinking of investing in India is to contact a relative or friend and enquire before hand about the land, property , deals and in case you need about companies offering home loans to NRIs.
The news also reports about the RBI loosening a bit on rules for NRIs  to encourage more investments in India.
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Agricultural land is not under the rules for investment , as of farm houses with farms, and the NRI needs to have a background bloodline, or related to some agricultural family to buy land. Though it is of sentimental value to have a home in their home land NRIs must find the right source and go about this deal to avoid fraud deals and loss of precious resources.
Many Banks and finance companies lending home loans have their branches  in many foreign countries and it become easier to provide details about your income and identity proofs. While buying property which you wish to give on rent it is better to have a legal contract about the same with the guidance of a professional lawyer, as there have been many fraudulent cases where people on rent have stayed for years and claimed ownership of such property.

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Having legal clear title property will reduce all the hassles later on in case of any fraud cases in property deals. Having a representative in India to handle finances  is also advisable provided the person is of your trust, otherwise banks and finance companies are more than helpful to handle NRI clients investing in property in India.
In case  you as an NRI are buying property on home loan for investment purposes a simple tip would be to make legal documents and transfer the rent availed from the rental client, total or as part sum for your repayment EMI  amount of home loan. So you as  an NRI , while your property keeps appreciating in value, you also keep earning rent the same money goes to  repay your monthly EMIs on your home loan, both win win situation!

NRI Investing in Property in India

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All the Best from Rizwana!