How your Home Loan can Save you an NRI From Financial Losses with property investments

How your Home Loan can Save you an NRI  From Financial Losses with property investments, yes taking a home loan might just be the one simple step that helps to save you, an NRI from huge financial losses.
Today investments are going towards only one direction, property. With so much fluctuations in market and shares and unpredictable situations it is the best form of investment for NRIs to invets in land and property in India.
One thing that usually happens is NRis visit India on a short trip look at some few places and invest in the property. Things sometimes can go totally wrong with so many unknown factors in buying  homes and land.
How can a home loan save you as an NRI while you invest in property here back home, is that the first and foremost approval of home loan requires that the house or land be approved of legal status. This is of utmost importance to have a clear title land or property.  

Home Loans Simplified Facts

Later on issues come up which will not only end you up in legal mess but also chances of you totally losing the property to another claimant. Land also may not have clear title of non agricultural land NA status which again needs that you go to legal procedures to transfer the land as non agricultural , only then can you build a villa or bungalow here.
You may also skip on the facts that electricity and water supply may just not be available on the property sold to you which yet is another issue that the home loans company takes into notice while approving your home loan.
Then comes accessibility, like roads, which you see on paper but in practical the space may be surrounded by forests or water features. This all may not be prominent while you purchase the proeprty as drawings, master plans,  on paper are always made beautiful and the artist may skip off totally some important features of the land. One example is that the land sold off to a NRI buyer was agricultural leaving them in a mess and after years they had still to solve the legal procedures, more over the land is so rocky, there are hardly any chances of building a home there. without spending large sums in leveling , filling up,  the land!
There may also be houses purchased during construction where projects have stopped work or delayed for years and years without any changes due to these unknown legal issues where your money gets stuck up with only financial losses every month over the years, leave aside the mental stress involved. Here your home loan company does all the research background work for you and only then do they approve your home loan as home loans are only offered to legal properties with clear title and that constructions which fulfill all the criteria.  
Many such issues are taken care off by your finance company that offers you home loans, and that you, as an NRI have the assurance of guarantee that the land and property is legal and clear title.
All the Best from Rizwana!
www.razarts.com