Golden Opportunity Beckons NRIs
If you have been considering making an investment in property in India, there couldn’t be a better time than now. The window of opportunity is wide open with the US dollar reaching an all-time high. As an NRI, you can now expect to get more value for your dollar.
KUL is here to help NRIs from the US, UK, UAE and other countries to make the most of this golden opportunity.
Kumar Urban Development Ltd (KUL) brings you not one, but a myriad of opportunities for investment in the form of its top-of-the-line real estate projects in major Indian cities such as Pune, Mumbai. If you’re looking for a little tranquility, we even have a getaway project in the dainty hill station of Panchgani.
As a leading real estate developer in India, KUL understands your need for property that connects you with your Indian roots while providing a sound investment. Browse through our website to see a wide platter of projects that does just this.
KUL Offers Dedicated Services for NRI
NRIs have unique requirements that need special attention. We are well-versed with the financial and legal intricacies of NRI investments in Indian real estate. KUL’s dedicated NRI services team is equipped to address all your queries and concerns and help you find an investment that meets your needs.
We understand your need for a unique lifestyle that brings together the best of the east and west. Our team represents the best minds in the industry and our professional services make every step hassle-free. .
NRIs, here’s how to invest in real estate in India
Non-resident Indians (NRIs) are a lucky bunch right now. While they earn in foreign currency, they can invest back home in rupees, which during a time of currency weakness can give them more bang for the buck. .
Given the rupee’s depreciation over the past few months, NRIs have been flocking to India’s real estate market, even as local buyers shy away. Typically, NRI investors tend to be of two kinds – those who want to earn good returns on their investment and those who purchase property for their family in India.
First, NRIs have no restrictions on how many commercial or residential properties they can own in India. However, there are restrictions on the repatriation of sale proceeds, which is limited to two units. Effectively, this means that while they face no restriction when investing in commercial or residential real estate in India, repatriation of sale proceeds can only be done for two units.
NRIs can invest in real estate by remitting funds to India through normal banking channels, or by investing in funds in NRE/FCNR/NRO accounts maintained in India. They cannot make payment via travelers’ cheque or foreign currency notes. They are also restricted from making any payments outside India or settling payments through exchange of funds outside the country.
NRI / PIO Guide
While the basics – such as income, financial obligations and re-payment track record remain the same, there are different rules for Non-Resident Indians (NRI), Persons of Indian Origin (PIO) and foreigners of Non-Indian Origin. A large part depends on the residential status and the kind of property you wish to buy.
However, even if you are an NRI or PIO, you do not require permission from RBI to acquire residential / commercial premises in India (other than agricultural land/farm house/plantation property and others which are specifically prohibited by RBI and other concerned authorities).
Also, NRIs are eligible for loans. However, repayment of loan should be made within a period not exceeding 15 years out of inward remittances or out of funds held in the borrower’s NRE/FCNR/NRO accounts.
Nothing contained herein amounts to financial/taxation advice. It is recommended that the visitor consults their personal financial/tax advisor before taking any decision based on the above and it is agreed by the visitor that, the visitor shall in no way hold Kumar Builders KUL liable and responsible for the same.