NRI CORNER

EXPATRIATES & NRIs

INVEST WITH EASE. EXPERIENCE ZERO HURDLES

Fortunately for the NRIs, no special sanction or permission is required to buy property in India. NRIs are also allowed to rent a particular property and send back their rental proceeds to the country they are currently residing in, wherein the amount will be subject to payment of taxes.

Unique Group - a trusted name in real estate - lends full support to foreigners or NRIs or both to buy properties in India. Another very important aspect is that an NRI who is an Indian Citizen can sell his Immovable Property (other than agricultural, plantation property or farmhouse) to another NRI, but only through Indian channels. The sale proceeds of the property should be credited to a NRI's bank account maintained with an authorized dealer in India.

For further communications, contact us on +91 7745 884 422 / salesuniquegrouppune@gmail.com

FAQs

Who Is NRI?
A person residing outside India who is a citizen of India or a person outside India who is of Indian origin is an NRI. The definition of the Person resident outside India is defined under section 2(w) of the Foreign Exchange Management Act, 1999 as "a person who is not resident in India"

A person shall be deemed to be a person, not resident in India in the following cases:-
  • When the person stays in India for less than or up to 182 days during the preceding financial year
  • When a person who has gone out of India or who stays outside India, in either case -
    1. For or on taking up employment outside India, or
    2. For carrying on outside India a business or vocation outside India, or
    3. For any other purpose, in such circumstances, as would indicate his intention to stay outside India for an uncertain period
Who is a foreign citizen of Indian Origin?
What should a consumer keep in mind while purchasing a housing flat?
Checklist for buying a residential property?
Do NRI's require consent of Reserve Bank to buy immovable property in India?
In what way the purchase consideration for the immovable property should be paid under the general permission?
Is there any limit on the number of housing properties that may be purchased by an NRI?
Can NRI's/PIO's rent out the properties (residential/commercial) if not required for immediate use?
Does RBI have any guidelines for loans to NRI's/PIO's?
Can authorized dealer grant loans to NRIs for purchase of a flat/house for residential intention?
Can authorized dealer grant housing loan to NRI's where he is a principal borrower with his resident close relative as a co-applicant / guarantor or where the land is owned jointly by such NRI borrower with his resident close relative?
What are the documents I have to submit along with the application?
Can an NRI take loan against the security of immovable property in India? Are there any restrictions on the use of loan amount?
What kinds of incentive can NRIs, PIOs and foreigners look forward to in the Indian real estate industry that favors investment?
Is there any specific target to actually complete your construction development work?
How does the automatic route work?
What are the steps an NRI should follow for getting all the clearances in a hassle-free manner? Whom should one meet in the process?
Is a single window clearance possible?
Does joint ventures call for better possibilities rather than unfair competition?
Does that signify that, joint ventures best investment option in Indian real estate development?

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