Both the NRIs and the property market are attracted to each other. Thus, many people face a situation where the real estate agent talks about a property of an NRI which is for sale. As a result, the buyers also get a bit involved in this kind of property but there are certain things to consider before buying a property from an NRI i.e. the Non-Resident India. So, don’t fall for a wrong deal as we here list the essential things every home buyer should know before purchasing a property from an NRI:
The Non-Resident Indians popularly known as the NRIs have again started taking the Indian property market seriously. Here the word again is used to remind you that the new reforms and property prices shoot up were the few reasons that made the NRIs hesitant to invest in the Indian Real Estate for the past sometime. But, now the situation has altered as these people are willing to invest back here as India is their home and the implementation of new rules is making them confident enough to put money in the property market here. So, below we are listing the main reasons that intend maximum investments from the NRIs here in India:
The Indian property market has seen tough times since the formation of Narendra Modi-led NDA Government in Centre four years back. But, now the real estate market has reasons to smile as the actions taken by this Government are affecting homer buyers in a positive manner.
After offering relief to the common man for buying property through the introduction of Real Estate Regulation Act [RERA] in the year 2016 the Government also opened door for more NRI investment in the real estate sector. Earlier, the Non-Resident Indians [NRIs] use to think twice before investing in the Indian property market due to various reasons.