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NRI Real Estate Investment |
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NRI Real Estate Investment has been on a sharp rise in the recent few years. This can duly be accredited to the tremendous growth in the Indian realty sector with an average of 30% last year. India being the fifth largest economy in the world and the second largest among emerging nations, has shown a potential growth in investments destination for the NRI population.
Special NRI quota is also provided for various land sales by Government. Special Grants and services are also provided to the NRI population to lure more and more foreign investment. All the leading banks and financial institutions have separate NRI dealing services that cover NRE, NRO bank accounts, housing loans and other home loan related products. You can also refer to the various bank websites to find out further details about the NRI investment procedures and the help available.
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The real estate bubble is blooming with huge investments from all sides, the Government of India (GOI), individual builders, infrastructure developers, large conglomerates and NRI's or the Global Indians. The contribution of the Indian Government and other factors to the attraction for NRI investments in realty sector of India includes:- Sale of land for residential, commercial and industrial development.
- Infrastructure support for the realty development all across the country
- Promotion of NRI investments and FDI
- Policies for transparency and facilitation of real estate transactions
- Liberalization of rules by GOI and RBI regarding NRI property and NRI homes investment.
- No restriction on the maximum number of properties that can be bought
- Easy finance availability
- Simpler repayment processes like normal inward remittances or debit in their NRE or NRO bank account.
The various above-mentioned factors have given the Indian real estate market a potential of touching USD 30 million in the next five years. An estimate of 5 million homes recorded sales in 2005-2006. Even the returns from the real estate investments have out performed other investments. Easy home loan availability by financial institutions in India, NRI remittances and repatriation procedures and easy operability of NRE, NRO and NRCS bank accounts has emerged as the best of all the available prospects for the NRI's looking forward to returning to India. |
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