{"id":1461,"date":"2015-06-03T12:50:00","date_gmt":"2015-06-03T12:50:00","guid":{"rendered":"https:\/\/www.testserver.eminenture.co.in\/test\/services2nri-new\/blog\/?p=1461"},"modified":"2024-08-16T07:19:32","modified_gmt":"2024-08-16T07:19:32","slug":"tips-for-nris-buying-property-india","status":"publish","type":"post","link":"https:\/\/www.services2nri.com\/blog\/tips-for-nris-buying-property-india\/","title":{"rendered":"6 Tips for NRIs Buying Property in India"},"content":{"rendered":"\n<p>Purchasing a property in India is no easy task, well to be fair it isn\u2019t easier anywhere else but it\u2019s increasingly tougher in India because of slow judiciary system and heaps of paperwork that you must follow.<\/p>\n\n\n\n<p>Here are a few tips for NRIs:<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>Get a Pan card before starting<\/strong><\/p>\n\n\n\n<p>It is mandatory to have an Indian Permanent Account Number (PAN) as it is needed for all the taxation purpose. Along with that, the investor needs to have Non-resident external (NRE) account which is preferred method to transfer money to India. The investment will be done via your NRE or non-resident ordinary NRO account.<\/p>\n\n\n\n<p><strong>Buy a ready property<\/strong><\/p>\n\n\n\n<p>Many builders provide discounts and offer low prices when the construction begins to raise as much money as possible. And if by some mishap the projects get delayed, it leaves the buyer paying huge installments on their loan and get late returns. That\u2019s why, it\u2019s better to buy a property that is ready and available for sale, you can negotiate the price using your skills.<\/p>\n\n\n\n<p><strong>Beware of the web<\/strong><\/p>\n\n\n\n<p>Developers woo NRIs and other investors through digital media, but don\u2019t go according to their information and pictures, because what most of them do is to post pictures of some other buildings, or pictures made by software. So, book after checking it physically, if that\u2019s not possible, ask help from a relative or\u00a0<a href=\"https:\/\/www.services2nri.com\/nri\/services\/168\/PropertyManagementOthers\">NRI property management service<\/a>\u00a0provider.<\/p>\n\n\n\n<p><strong>Capital gains<\/strong><\/p>\n\n\n\n<p>After purchasing a property in India, NRIs who sell them three years after the date of purchase are liable to pay a long-term capital gains tax of 20 per cent. It\u2019s 30 per cent, if an NRI sells it before three years.<\/p>\n\n\n\n<p><strong>Farmland\u2019s out<\/strong><\/p>\n\n\n\n<p>As an NRI or foreign investor, one cannot buy agricultural land, or farmhouse.<\/p>\n\n\n\n<p><strong>Rent incurs tax too<\/strong><\/p>\n\n\n\n<p>Income generated from rent is taxable in India, so, one must be aware of this fact too.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Purchasing a property in India is no easy task, well to be fair it isn\u2019t easier anywhere else but it\u2019s increasingly tougher in India because of slow judiciary system and heaps of paperwork that you must follow. Here are a few tips for NRIs:<\/p>\n","protected":false},"author":1,"featured_media":1463,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[163,212,214],"class_list":["post-1461","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nri-property-management","tag-nri-property-management","tag-property-management","tag-property-management-tips"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>6 Tips for NRIs Buying Property in India<\/title>\n<meta name=\"description\" content=\"Property management typically involves the managing of property that is owned by another party and here are some about tips that nris buying property.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.services2nri.com\/blog\/tips-for-nris-buying-property-india\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"6 Tips for NRIs Buying Property in India\" \/>\n<meta property=\"og:description\" content=\"Property management typically involves the managing of property that is owned by another party and here are some about tips that nris buying property.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.services2nri.com\/blog\/tips-for-nris-buying-property-india\/\" \/>\n<meta property=\"og:site_name\" content=\"Get Latest Updates on Document Procurement, Immigration &amp; 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