The depreciation in value of
Rupee has presented a highly profitable investment opportunity to NRIs. Many
NRIs are investing in the booming Realty Sector of India and are earning good
amount of profits at low investments. The main reason behind the increasing
investments of NRIs in India Realty Sector is that they will have to pay lesser
amount of foreign currency to acquire a property in India.
According to RBI (Reserve Bank of
India) the net transmittal of NRI Investment in Indian market has increased due
to the depreciation of Rupee against foreign currencies like Dollar, Pound and
Euro. The major part of the NRI Investment in Indian market is in Realty Sector
which amounts to 40% of the total NRI Investment in India.
The other factor that has boosted
NRI Real Estate Investment in the Realty Sector of India is that the NRI who
are foreign citizenship holders of Indian origin can easily apply for buying
property in India. There are no as such regulations that will require
them to attain a special permission for buying property in India. Apart from
buying property, NRIs can also rent their property that they have acquired in
India. This is another factor that has increased NRI investment in India
because rents of properties in prominent cities of India are quite high.
FEMA (Foreign Exchange Management
Act) is the government act that deals with the management of foreign exchange.
This act gives exemption to foreign residents of Indian origin to buy any type
of property in India, except for properties like plantation, agricultural and
farmhouse. NRIs can also avail a Home Loan for buying residential property in India.
The Housing Loan is granted to NRIs on the basis of their annual income.
The NRIs who cannot be present in
India can execute the whole registration work by appointing power of attorney
to any family member who resides in India. The registration process and the
charges levied for it are same for NRIs and Indian residents. Appointing a
family member who resides in India for power of attorney will greatly help in
conveniently fulfilling formalities like registration, leasing and even selling
of property in India.
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