Why Is There A Sudden Upsurge Of NRI Investments In Thane?

Why Is There A Sudden Upsurge Of NRI Investments In Properties In Thane?

Global Indians contribute to Indian forex reserves through investments in various Indian assets classes, of which it is witnessed that real estate investment forms a major chunk out of it. NRIs, too, have always had a positive experience in investing in real estate. Real estate investment has always been Indians’ favourite asset class, including those who stay abroad. NRIs are eligible to take loans and invest in the real estate market. However, the only criteria which are to be followed are they have to pay back their loan in Indian currency only. The Indian real estate market has witnessed 10-15 percent growth in the property enquiries and transactions done by NRIs in the past few years. Buying a property in the home country helps NRIs to connect with their roots and also assures steady Returns on Investment (ROI) in comparison to other asset classes like buying gold or investing their money in the stock market. The positive impact of various reformatory changes imposed by the government in the real estate industry moving towards greater transparency, efficiency and accountability helping NRIs to take a step forward in buying a property in Thane.

Investing in real estate is no longer a challenging task for NRIs as it used to be earlier. The recent regulatory changes have made the real estate sector more efficient and transparent for everyone helping more NRIs to invest in properties in Thane or elsewhere. It is necessary to have a checklist of things before an NRI plans to invest that is all important documents, KYC, Payment plan, tax implication legalities and other formalities and a very important thing is someone who is trustworthy to help NRIs to facilitate the entire process so that it is smooth without any difficulties. Real estate transactions for NRIs fall under the purview of Foreign Exchange Management Act (FEMA). NRIs holding an Indian passport need no approval according to the Reserve Bank of India when they are investing in Indian real estate. According to the Indian laws, any property investment done by NRIs will include stamp duty, registration charges and service tax to be paid accordingly. NRIs are liable to purchase any number of properties as well as any kind of properties from residential to commercial to farmhouse or agricultural land as long as they follow all the reforms and rules in the Indian realty market.

Many individuals from Mumbai and different parts of Maharashtra are taking a gander at Thane as a superior open door as a result of better infrastructure, schools and job opportunities. Likewise, it will be associated with the metro, which will decrease a lot of travelling time between the two urban areas. From an affordability perspective, a 2 BHK flat in Thane begins from 70-80 lakhs yet in Mumbai it costs at the very least 1.5-2 crores. Navi Mumbai is robust in comparison with Mumbai. We do see the gratefulness in costs in the following years. When the upcoming proposed projects are done, speculators will naturally get a 5 to 10 percent hike from current costs. The metro will be operational in a couple of years and will take the real estate sector to another level. Some of the renowned developers are working in Thane so the capability of this spot is also increasing. Normal capital return in the most recent year in Thane was 10-15 percent. We see great footing there in light of the affordability factor. NRIs visiting these residential projects are searching more for both ventures just as close to personal use.

Posted on 24^th Apr, 2020

Tags : buy property in Thane, buy apartments in Thane, buy luxury flats in Thane

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