You get what you see Immediate availability Can serve as a source of additional income You can know about people living around you You can buy within your budget
You get what you see
Can serve as a source of additional income
You can know about people living around you
You can buy within your budget
The Essential Checklist For NRIs Buying Property In IndiaThe non-residential Indians prefer investing in the real estate industry in India, mainly because of the returns that are assured given the rate of development and growth. The reasons why people invest in real estate can be for a secure future or the family or to create generational assets. All these reasons are tending toward the future because of the potential that this industry has. Commercial and residential verticals of real estate, both are equally benefiting for investors especially nonresidents of India due to the affordable economy of the country and the low-interest loans. There are specific rules to invest in real estate that can be marked by the checklist mentioned below: Taxation policies: When an NRI plans on investing in new projects in Dahisar, they should be aware of the tax they are liable to pay. This calculation of taxation is done in the same method for a regular Indian citizen who invests in the property. However, the benefit that NRIs have is that they can demand a deduction on head reimbursement and stamp duty, registration of the property. Payment methods: There are multiple channels of payments that you can use like Foreign Currency Non-Repatriable, Non-Resident External, or Non-Resident Ordinary accounts. You can also make your payments in cash or cheques from the banks if you have applied for a loan. Know which payment method can get you better discounts. RERA registration: As an NRI you must be aware of the property details like the RERA registration which is a validation of genuineness from the government. The RERA registration provides the property with a RERA number which ensures that the property is legally listed. Documentation procedure: The minute you finalize on flats in Dahisar East, you must understand that your important documents should be ready for the government procedure which includes an NRI or PIO, or OCI to be eligible for buying a property in India. Always have a lawyer: When living outside a country, you are bound to not keep tabs on every single law change that country undergoes. This calls for a backup and that means having a lawyer who can overlook all your decisions and processes makes a big difference. It not only saves you time at work but also gets you an upper hand in facing fewer problems to own a property in India. NRIs face an issue in keeping real-time updates of the market and real estate is an industry that changes to the everyday demands of homebuyers. Finding the right time to make the investments that are worth and potential to increase the returns value for you in the future requires a lot of studying the Indian market. Make sure your sources of information are right. ...
A Complete Buyer’s Guide To The Home LoanHome loans are an essential factor to home buyers, which increases the chances for them to decide on buying a property. A home loan is a specific amount of funds lent by banks or housing finance firms in return for EMIs. This amount given to home buyers is used for completing the process of buying the property. However, the collateral of the bought property remains with the loan provider until the loan is cleared. The home loan is given after the provider verifies the background of the borrower and the property. Below are the steps to the process of getting a home loan: Home Loan application: The application procedure is when you submit your formal application to the bank along with your personal details for scrutiny and assessment. The personal details like Identity proof, Address Proof, Age proof, Proof of educational/ professional qualifications, Employment details, Bank statements, Proof of income, Pan Card, and Property details finalized it is finalized), Payment of loan processing fees. The bank charges a non-refundable fee for the application. Scrutiny & verification: The amount of loan that you are asking for needs to match your capability to repay the loan through your sources of income. Here you interact with the bank officials for them to evaluate your eligibility. They might also visit the addresses provided by you for cross-verification. Evaluation of repaying capacity: Once the property and your background are verified, the bank runs errands to know how capable you are of repaying the loan. This is the factor that determines if your loan application will pass or not. There might be conditions from the bank provided to you for agreement before they approve your loan. Offer letter post-approval: Once approved the bank will be providing you with an offer letter which has the details like Sanctioned amount, Rate of interest applicable, Fixed, or floating rate of interest, Loan tenure, Mode of repayment, Special scheme (if applicable), Terms and conditions associated with the loan. You must provide a signed copy to the bank as an agreement to proceed ahead. Property Verification: There are many residential projects in Dahisar that are in demand now. The bank needs to understand the compatibility between the cost of the property and your capability of repaying it. At this stage, you will need to submit original copies of the title deed, no objection certificate, and other documents for verification. Once the process of the property verification is done, which could involve the bank scrutinizing the location, developer details, prices, and other important aspects of the property. Think before you choose your developers, as some of the good ones like N Rose Developers in Dahisar have excellent bank affiliations that help you in getting the loans faster. ...