As we all are aware of the fact that everyone loves their own motherland. In most circumstances, NRIs sell all personal and ancestral property to go abroad. Hence, their attachment to the motherland grows over time, and a nostalgic emotion drives them to buy a house in India, which they use as a home when they visit India every now and then.

NRIs also look for better investment opportunities, but few have the money to invest in the correct property and expect high returns. If they decide to rent their property, they will require a Property Management Consultant to handle it while they are gone.

Another reason is to buy a 2 BHK Flat in Thane for other family members or parents in India. So not only do the family members receive a great place to stay, but they also get a place to stay when they visit India. As an NRI, you don`t need permission to buy a piece of land. As for residential or commercial properties, you can buy them, but you can`t buy agricultural plots, farms, or plantations.

So, what are the benefits of investing in India or particularly Under Construction Projects In Thane?

• Regular Rental income.
• The government considers NRI/OCI/PIO investment to be on par with that of residents
• In addition, just a few developers are releasing NRI-focused projects.
• With increased demand for office space by MNCs and start-ups, this is another high-return investment opportunity
• The falling rupee has created a great opportunity for foreign investors. In addition, a slew of new policies and reforms have gotten the Indian economy back on track. As a result, foreign investors can expect high returns on their investments.
• Finally, the emotional quotient has encouraged many foreign Indians or those with origins in the country to invest here in the expectation of returning to the country or benefiting relatives.

Here’s A Quick Checklist Of Things To Consider Before Buying Under Construction Projects In Thane:

1. Property Type

NRIs are permitted to purchase both residential and commercial property in India, but not agricultural land, farmhouses, or plantation estates. However, if an NRI wishes to purchase agricultural land in India, the Reserve Bank of India must grant authorization. Aside from that, an NRI may purchase as many properties in India as he or she likes. If an NRI is unable to travel to India to purchase Under Construction Projects In Thane, someone with legal power of attorney must do it on his or her behalf.

2. Taxation & Benefits

When an NRI acquires a property in India, TDS (tax deducted at source) is calculated at a rate of 20.6% on long-term capital gains and 30.95% on short-term capital gains. However, the final taxation rate for NRIs and permanent Indians is the same. If an NRI falls into a reduced tax bracket, he can ask for a TDS refund by filing their income tax return.

NRIs are entitled for a large portion of the tax breaks provided to local Indian buyers. If they sell the property within three years, the proceeds will be taxed because they are considered short-term capital gains. If they sell the property after three years, they can use the money to reduce the long-term capital gains tax they owe by purchasing another Under Construction Property In Thane.

3. Power of attorney (PoA)

NRIs are supposed to give a power of attorney in the name of the builder or an associate when purchasing Under Construction Projects In Thane. A lawyer would be able to assist an NRI in this area in order to prevent forgeries. This is done to ensure that his/her investment is protected during the development period.

As they live abroad, NRIs have the option of granting Power of Attorney (PoA) to friends or family in order to finish the property acquisition procedure in India. The powers of attorney can be generic or particular in terms of the rights that your agent may exercise.

---