There are tremendous benefits for NRIs investing in residential units in India. The currency value of all the developed nations is strong against the Indian rupee and thus these foreign investors can reap a lot of profits by investing in India. Pune is one of the very few cities in India that has tremendous scope for an excellent return on investments for NRIs. Investing in a 2 BHK flat in Pune will be beneficial in terms of profitable investment returns for foreign investors. Some reason why real estate is one of the most profitable investments for NRIs in India are as follows:
Reasons behind profitable real estate investments in India:
- Price Benefits:
Cheaper costs and affordability are the most important reasons why NRIs find investments in India as a lucrative option. The gap in the currency value gives NRIs a competitive edge over the Indian rupee, thus making investments a profitable one for them.
- Rental benefits:
Buying a home here and leaving it for rent serves as an excellent secondary source of rental income for NRIs. They can keep the property for the long term and can be used during their visits to the country. Alternatively, they can leave the property for rent and benefit under section 80C of the Income Tax Act. Foreign investors can also claim benefits of deduction under maintenance and repair of the property.
- Benefits on retirement:
Senior citizens can benefit tremendously from the benefits of a reverse mortgage. Also, the money taken from the bank towards the expenses of a reverse mortgage is not taken into consideration as NRI income. People are thus able to both keep the property and also get the money back, creating a win-win situation in favour of their retirement period. Several banks are taking this aspect into account and implementing the same to create a beneficial stance for the NRIs, investing in India.
- Long term returns:
The real estate industry in the Country is witnessing formidable growth for the past few years and is expected to grow by an appreciable margin every year. The real estate investment by the NRIs has also multiplied many folds compared with the past years and they consider this as a long term investment for their future. There is greater transparency in real estate dealings at present times for NRIs, making it beneficial for both the investor and the developer.
Three Best Places to Invest in Pune
Investing in the Indian real estate market has been an all-time favourite venture for NRIs. As there are no restrictions on the number of properties they purchase, they have made the complete utilization of the opportunity to secure their financial appreciation. Also, buying a property in their homeland serves as a means for emotional security as well for these foreign citizens.
Pune is transforming to be one of the most preferred investment hubs in the City. People are attracted to the city for its lifestyle amendments and also for the investment returns it renders. A great number of well-run multiplexes and shopping zones have elevated the standard of living of the people in the city to a significant extent. Its IT companies and increasing industrial zones are rendering the city a new fancy tint. Owing to its infrastructural enhancements, the city is enjoying the best real estate appreciation in the country. Some best places to make real estate investments in Pune are:
- Koregaon Park:
Koregaon Park is one of the most sought after investment hubs in Pune with relevance to both rented and owned flats. It is easy to look for 1 bhk flat on rent in Pune here, to enhance one’s rental income. This locality has a strong connection with the ITES industry in the country and features properties of various types starting from 1bhk apartments to independent houses and luxurious villas. These properties are topped with top-notch facilities such as cafeterias, party lounges, commercial spaces, and educational centres. Properties are available here within a price range of Rs. 55-65 Lakhs for 1 and 2 bhk apartments.
- Viman Nagar:
Viman Nagar has caught the attention of several Indian residents with its rising infrastructure features. This location is near the Pune International Airport and shares its boundary with shopping junctions, IT offices, recreational zones, and multiplexes. This locality is a hotspot in the city and is near other renowned locations such as Yerwada, Kalyani Nagar, Vishrantwadi, etc. Apartments here are available at a price point of Rs. 50-60 Lakhs.
- Aundh:
This locality in Pune is known for its luxury projects and premium location. It renders a lot of lucrative options for NRIs and Indian citizens alike. This locality renders the end number of opportunities for those looking for affordable homes within the budget in India. This area renders the best mix of ready to possess and under construction apartments within the price range of Rs. 35-50 Lakhs. It is close to Hinjewadi, the IT hub of Pune and is close liaison with the Mumbai-Pune Expressway.
NRI investment in India
There are tremendous opportunities for real estate investments for foreign nationals in India. But these investments have to abide by the strict rules laid by the Foreign Exchange Management Act. As an NRI, it is important to coordinate things well before making a purchase. It is also a good idea to take professional help before making a property investment in the country.
Previously investors used to rely on agents and brokers for closing real estate deals in the country. But sometimes they also hinge up with fraudulent agents who fake properties and its cos. But now foreign investors can take the help of housing.com, the most reliable real estate website based in India that lists properties from every single state and district of the country.
Investors can browse and shortlist projects based on their cost, their budget, space availability, type of project and the location at housing.com. The entire transaction from choosing the property to closing the deal is transparent and genuine without the involvement of any brokerage or agent. Try India’s most preferred housing partner housing.com for all your investment-related deals and queries.