NRIs need to exercise necessary thoroughness to certain specific laws and regulations, while buying, selling, or renting out real estate property in India. The real estate market in India, has always seen substantial interest from the Indian investors.Developers are constantly striving to woo Non-Resident Indians (NRIs), as they can choose from a variety of options, in the residential and commercial segments.
The realty market in India is progressing and is at its peak with many new residential as well as commercial projects coming up. Builders in Navi Mumbai are offering good deals and benefits such as flexible payment plans, subvention schemes,loans at good rate of interest etc. Real estate sector of Navi Mumbai has seen boom owing to the recent infrastructural developments such as development of airport.

Buying and selling
As an NRI a person has an option that he can either come to the country to buy or sell a property, or instead give a Power of Attorney (POA) to a relative and get the transaction done, without even coming to India. NRIs can also avail of home loans in India. The documents for the loan may vary, according to the country in which the NRI is settled. Generally, the term of the loan will be 10 to 15 years, while the amount that the NRI is eligible for, will vary based on age, income, education, etc. To finance the property purchase, it is advisable to use a non-resident external (NRE) account, as this will help the NRI to take back the capital invested in the property, when they resell the property.

Investing for the future
For NRIs who are on the verge of retiring and planning to settle in India, this is the right time to invest in Property in Panvel. Social and civic infrastructure in most of the Indian cities, has improved a lot. As more hospitals, schools and shopping malls come up and connectivity improved by the construction of metros and airports, it will give rise to better standards of living. This will directly enrich the quality of life after retirement.
Once the primary residence is secured, NRIs can use the remaining funds to invest in a second apartment and use it to generate rental income or just invest it as a property. However, they must be aware of all the laws and regulations that apply to NRI investors, especially with respect to taxes, as rental income is taxable in India.

NRI should avoid investing their funds or money in projects of unknown developers. Numerous buyers have fallen into trap. Many projects lack even the compulsory clearances and falls short of even the minimum standards of quality. Unless an NRI plans to visit India and evaluate projects, she/he should opt only for reputed developers. In all cases, NRIs should strictly verify points, such as the track record and brand visibility of the developer, the social and civic infrastructure available in the location, the amenities in the project and the timelines for possession, in the case of under-construction projects.
A project that is targeted towards NRIs, is no different from other offerings in the market. A property should be evaluated, purely on the basis of its location and amenities on offer, the legal validity of its title and the developer’s brand image. Balaji Symphony, developed by renowned Builders in Panvel – Vishesh Group, represents the next generation of residential splendor. The project is a brainchild of Vishesh Group, acknowledged today as amongst the most visionary builders and developers in Navi Mumbai.
Visit - https://www.balajisymphony.com