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NRI Corner

The Indian Real Estate sector is slated to grow at the rate of 30 percent over the next decade. India has emerged as one of the popular investments destinations for the global investor. Real Estate is amongst the industries where your investment will flourish in the coming years. The investment sentiment in the country is scaling new heights with the emergence of new localities. Apart from good financial returns a home at your motherland gives you a feeling of safety and connects you emotionally.

The Future of Investment under a stable Central Government and the Rupee bound to strengthening further India is all set to become a much sought after destination for the Indian Realty sector. Along with this a favorable socio economic environment, good infrastructure, the government initiatives of smart cities, hassle free airports at tier1 and tier2 cities to improve connectivity have clearly boosted the confidence of the investor. We at Konark understand your needs and concerns .It is our utmost priority to provide you quality construction at pivotal locations at the same time maintaining transparency in all our transactions.

A Non-Resident Indian (NRI) is a citizen of India who holds an Indian passport and has temporarily immigrated to another country for six months or more for employment, residence, education or any other purpose.
Persons of Indian Origin Card (PIO Card) is a form of identification issued to a Person of Indian Origin who has held a passport in a country other than Afghanistan, Bangladesh, Bhutan, China, Nepal, Pakistan and Sri Lanka.
NRI’S enjoy the following facilities
Maintenance of bank accounts in India
Investment in immovable properties
Investments in securities/shares of, and deposits with, Indian firms/companies.
Yes there is no limit on the quantities of properties an NRI can purchase.
Exception: Agricultural land, plantation land or a farm house in India are properties an NRI cannot buy. He cannot even acquire such property as a gift. He can inherit this property.
A Power Of Attorney (POA) or letter of attorney is a written authorization to represent or act on another’s behalf in private affairs, business, or some other legal matter. The person authorizing the other to act is the principal, grantor, (of the power).
NRI’S need to submit documents like copy of the passport, copy of the work contract. They also have to follow certain eligibility criteria in order to get home loans in India.
The eligibility criteria is that they should be minimum 21 years of age.
Yes. A person resident outside India who is a citizen of India (NRI) can acquire by way of purchase, any immovable property in India other than agricultural land/plantation property/farm house. He can transfer any immovable property other than agricultural or plantation property or farm house to: a) A person resident outside India who is a citizen of India or b) A person of Indian origin resident outside India or c) A person residing in India.
No there aren’t any restrictions.
No restrictions on the number of properties an NRI can buy. However the buyer must ensure that the land on which the purchase property is built is not agricultural land or plantation property, as these types of land can only be purchased by an agriculturist who is an Indian citizen.
Yes an NRI can sell his property in India to an Indian resident/NRI/PIO
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Konark Karia is one of the finest names in Pune and Mumbai’s Real Estate industry with over a four decade experience in creating majestic, grandiose and ultramodern lifestyle solutions and commercial spaces to people.
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3rd Floor Indrayu Mall,
Konark Pooram Kondhwa,
Pune 411048

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