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In recent years, non-resident Indians (NRIs) have played a
very important role in transforming the Indian real estate
market. Since 1994, NRIs have invested a sizeable amount in
India, of which a big chunk has found its way into the
property market. A process of economic liberalization has
also encouraged NRI investments into real estate with the
advantage of repatriation of the capital invested and even
the rental proceeds under the circumstances prescribed by
RBI.
Sreerosh has several interesting projects and proposals for
NRIs with special focus on land appreciation and rental
reforms.
Inherent Investment Potential
With a population approaching the billion mark by the turn
of the century, real estate in the Indian sub-continent has
obvious potential for growth. While the idyllic Indian
village life has an emotional appeal, the discerning
investor knows the importance of easy accessibility to
schools, hospitals, shops, offices, entertainment centers
and airports. A real estate investment has far higher value
in the major towns and cities of India. A wise investment
here can benefit from the historic movement of population to
urban centers. A process of economic liberalization has also
encouraged NRI investments into real estate with the
advantage of repatriation of the capital invested and even
the rental proceeds under the circumstances prescribed by RBI.
The Wise Investor
A complex web of legislation impinges on all property
transactions in India. A plethora of municipal rules can cause demolition of construction for violations. Income tax
rules threaten expropriation for economic offences. Hindu
joint family and other succession rules impact on property
transfers. Land ceiling legislation affect titles.
Neighborhood groups can hold up construction with law suits
and objections. In this jungle of hidden threats and lurking
dangers, the best option for the investor is to chose an
agency with a proven trackrecord. Past performance in
completed projects is the best assurance to the wise
investor.
Title Verification
Project documents are normally certified by legal advisors
before financial institutions can give loans for flats. They
scrutinize original title, encumbrance certificates,
building permits, land ceiling clearances and other relevant
documents. The buyer-builder agreements should be equitable
and should not contain clauses that are volatile of an
investor's rights and interests. An investor can employ a
legal advisor to examine title for additional protection.
Value Investment
Your apartment has to be assessed not only from the point of
utility but also from the point of yields and appreciation
as an investment. Sreerosh Flats do have a clear edge in the
market over the others in yields and appreciation. An
apartment has greater value when the project has adhered to
approvals and other sanctions of the various agencies,
government authorities. There is as much expertise involved
in the construction of apartments as in any other critical
production. It needs a builder with integrity and as well as
expertise. Your greatest assurance is a good track record. A
commitment to quality and aesthetic designs positions
Sreerosh above the rest of the market.
Loans
The NRI investor can raise finances from financial
institutions to purchase an apartment. The Housing Development and Finance Corporation (HDFC) is the leading
institution in India in the field. They have offices all
over the country and respond speedily and efficiently.
Southern Investments projects are eligible for finance and
loan applicants can receive assistance and advice from our
offices.
Permission to let out Immovable Property
The Reserve Bank of India has also granted general
permission to Non-Resident Indian citizens and foreign citizens of Indian origin, to let out their residential
properties acquired for their bonafide residential purpose but which on account of their residence abroad, are not
required for their immediate residential purpose. The rental
income being the current account transaction is freely
reparable outside India.
Disclaimer
Every effort has been made to avoid errors or omissions.
Please inform us of any mistake, error or discrepancy. Being
matters of vital importance, the reader is requested to
cross-check all material at this website with original
Government publication or notifications. Please seek
professional advice before acting on any information
contained herein. The responsibility for obtaining
clearances and permissions from the Reserve Bank of India
and/or other statutory Authority with respect to the
provisions of the above mentioned Act or any other
applicable laws rests with you. Sreerosh Properties,
expressly disclaim liability to any person, in respect of
anything or the consequences of anything done or omitted to
be done by any person on the basis of the contents of this
website.
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