Tuesday, November 19, 2013

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NRI Investing in Property Helpful Simple Tips Property Price Factors an NRI would consider before investing

Availability of Budget Homes

NRI Investing in Property here in India , this is the best time with so many affordable and reputed constructions going in full swing. Helpful Simple Tips for the NRIs before you invest in Property
1)Location, address. The price of the property will totally depend upon the are you choose. A place in the mid city with good infrastructure will be more than the place on the outskirts of the city or suburbs. Every area has its own rate per square feet, and this will depend upon your budget for investment. In case you or your family wish to stay here for vacations trips it is better to opt for places near the airport or in vicinity of good transport.
2) Price Factors an NRI would consider before investing is just that even though you may have a budget fixed approximately for purchasing property for investment it would be better if you finalize the use of this property while selecting to buy. Is is going to be kept locked, are you going to offer it on rental basis, are you planning to keep this as a second home for trips back home , many such factors will influence your choice of property. There are many budget homes available that have low maintenance and can be kept closed for your personal needs.

Address of the Property You wish to buy

3) Most of the prices of houses may also be according to the amenities provided by the builders. You as an NRI need not jump to these offers if you do not wish to stay in the place. For investment purposes a flat with one or two bedrooms is sufficient. While you can do away with the swimming pools and landscaped gardens, the money saved here can be invested in another property somewhere else.
4) By the country rules you may need to pay extra taxes, it is advisable to consult a good finance consultant before buying property or investing in houses.
5) In case you are willing to buy property by taking a home loan again you will need a bank account with a bank that has their branch in the foreign country you stay and work in. Many reputed Indian banks have branches in the UK and many other countries and they provide full support and guidance for any loan issues for NRIs.