Crucial Tips for NRIs Investing in Indian Real Estate

Non-Resident Indians (NRIs) hold the same property ownership rights in India as any Indian resident, under FEMA rules. Land can be owned as residential and commercial units, although not agricultural or forest land. However, NRIs often fall prey to quacks and fraudulent property dealings which are increasingly making them wary of investing in property in India. Buying property in India or anywhere else in the world requires a lot of due diligence by the investor, and this is especially true for NRIs. These are few questions that NRIs must ask themselves before putting their money in a property in India.

Why do you want to invest in India?
Are you looking at yielding returns from your property investment in India? In that case, it is advisable to invest in an already developed area and renting it out. The other option might be to buy equity shares of listed developers. Many NRIs also look at investing in property in India keeping in mind their future plans of settling down here. In this case, investing in a developing area would make sense.

Do you really “know” the builder?
This can’t be emphasized enough, as this is a highly fragmented market with a lot of fraudulent players in the market who promise the moon and the stars but end up delivering nothing. Do a thorough investigation of the builder/ developer you’ve chosen, go through his past records in terms of implementation, and compliance with laws. Speak to an existing or past customer of the said builder to get an honest feedback.

Where is the property located?
It is important to do a thorough check on the demographics of the property you’re looking at and ensure it is surrounded by good infrastructure. In India, where there is no guarantee of infrastructure development, where your property is located is of prime importance.

Have you done a thorough homework on the government policies?
Real estate policies in India are subject to constant change. Investing is forest or agricultural land is not an option for NRIs. One must do a thorough read-up on other policies related to property ownership and try to get an understanding of future government plans in order to take an informed decision.

Have you understood the taxation system?
For NRIs investing in property in India, it is imperative to hire a good tax attorney to understand the tax implications including TDS, rental tax, property tax, etc.

Bearing all this in mind, it is always advisable to hire a good property manager or broker to help you with all the paperwork in India, as you would be away most of the time. Plan your investment well, including a sound exit strategy to ensure a stress-free investment experience in India.

The importance of site visits

The idea of buying a house is certainly appealing and while we tend to focus more on the finished house, the process of buying a house needs a lot of attention, and multiple steps to be followed in order to ensure that you’re not being fooled. A lot of builders in Bangalore offer site visits to interested candidates.

A site visit is an essential step in the home buying process. It not only gives you a realistic picture of how you can expect your potential home to look, but it also gives you an idea about the neighborhood, developments in and around the project site, the approach to the building, etc.

Frequent site visits after purchase of the house is also recommended to keep a check on the project
progress and to gauge whether the builder is delivering as promised. A home buyer who had recently bought a flat in one of the upcoming residential apartments in Karnataka had made sure that the house was completely vaastu compliant. However, as the construction progressed, he noticed a change in the master plan. Many such deviations can be identified at an early stage through regular site visits.

To put it more objectively, a site visit helps keep a check on the following:

• Genuineness of claims made by the builder
• Timely progress of the project
• The quality of construction 
• Amenities provided 

Although there are various virtual technologies available now that gives you a detailed look inside your flat from your seat, without actually visiting the site, it is strongly recommended that you pay regular physical visits. This will go a long way in ensuring that you are getting what you signed up for. Now you can book a site visit instantly to any of the Sowparnika properties from our app and we will take it upon ourselves to show you around.

Factors influencing real estate value appreciation

While buying residential apartments in Kerala, Karnataka or Tamil Nadu one of the main things we consider is the appreciation of the value of the property. There are many factors which influence the growth of value and appreciation of the property. Let us take a look at few now!

Appreciation of a property happens due to many reasons. One of the primary reasons is the development of the locality and infrastructure in the area. Buying homes in areas which already have all kinds of amenities and modern infrastructure will see appreciation with time due to various other factors like new residential spaces and other luxury infrastructure additions to the area like malls, entertainment hubs and other recreational areas.

Connectivity to main areas of the city through various public transportation and better road system also adds to the value appreciation of the property. For instance, when a property is located close to a National Highway or Express Highway, the value of the property is comparatively better than when it is in another place. Similarly, proximity to metro stations, railway station and airport also increases the property value.

The city of location also matters while looking at the property value growth. In cities like Bangalore, the property prices are already high, but in the smaller cities like Coimbatore, Tirupur, etc. where there is much scope for expansion, new projects and infrastructure, the housing value will be initially affordable but will have tremendous scope of growth in a very short span of time!

Though there are many factors influencing the real estate value appreciation in various cities these are few of the important ones.

Natural moisturizer for this winter

Winter can be a tough time for people living in residential apartments in Karnataka, mainly Bangalore because skin dryness becomes a major issue during this time. This week we give you few natural types of moisture which can be found in your own house to soothe your skin easily!

Oil
Oil is the best moisturiser one can find readily available at home! Ranging from coconut oil to castor oil a normal Indian home is always filled with quality oil products which provide natural soothing to the skin. Try applying oil in the area affected by dryness and wash it after sometime to add a nice glow to the skin.

Honey  
Honey is rather one of the most useful things available in a kitchen. It has an all round property to cure many illnesses including preventing and treating of dryness. It helps in cleaning up your skin pores and restore the dull skin to it natural glow with its antioxidants.

Buttermilk or curd
This is an ingredient commonly used in many expensive face packs and creams. It helps breaking down and removing dead skin cells, speeding up cell turnover and rejuvenation. Get a face pack done at home with buttermilk or curd and see the difference yourself!

Aloe Vera
Many people grow this plant at home as it’s a boon of sorts with its goodness! It is very easy to grow and doesn’t need much maintenance. The gel from the plant has plenty of nutrients like vitamin E and vitamin A that are great for the skin and it is a great relief to dry and itchy skin.

Green Ideas for Diwali

The festive season brings in joy to one and all in the city. You may be a owner of our residential apartments in Karnataka or residential properties in Kerala or apartments in Tamil Nadu but be sure to celebrate a Green and safe Diwali! Let us try making this season a better one by employing few green ideas for celebration!

Power Consumption
Being the festival of lights, decorating our homes with lights is the basic concept during Diwali. Unlike olden days, we have started using electric lamps to light up our homes, streets and offices. This will lead to unnecessary power consumption. Try shifting to earthen traditional lamps this Diwali and avoid unnecessary power usage.

Earthen Lamps
As we saw earlier, using earthen lamps can be a great start for a green Diwali. Though oil is used in traditional lamps, the expense will be much lesser than having electric lamps all over the place. Earthen lamps will not only help in saving power but also will give a traditional touch to the house!

Organic Gifts
Gifts are a major part of any festival. This Diwali try gifting organic gifts. Things like herbal tea, cosmetics which are eco-friendly are great ideas. Also avoid plastic wrappers and opt for jute bags.

Eco-friendly Crackers
Crackers are the main reason for pollution during Diwali. During this festival, there is a lot of air pollution due to all the crackers and after the festival is over there is paper and cracker residue everywhere which is highly difficult to clean up. This Diwali, try using eco-friendly crackers. Though they will not stop pollution, they will definitely reduce the noise and level of pollution.

Celebrate Togetherness
A community living has great advantages during such festivals. Try celebrating together this festive season and save a lot of resources and energy!

Share the Joy
Children will always have the liking towards bursting crackers but as adults, many of us can try foregoing the money we spend on crackers and give the same to old-age homes and orphanages where people do not have even little resources for celebrating a festival. Make this Diwali a great one by giving the under-privileged people a part of what you have! The joy of giving is great!