As the government continues to push through reforms (in the Land Acquisition Act, the Real Estate Regulatory Bill, relaxation of FDI rules, etc.), property continues to remain the best option for NRIs looking to invest in India.

But before making the final decision, there are some big questions to be addressed; who is the developer, what are his credentials, details about the property, location, amenities, payment terms, legalities and so on.

Adani Realty offers rewarding investment options across India. No project is executed without the help of the finest architects, designers and contractors, and the end result is always splendid. Delving deeper into the intricacies of real estate, we understand the needs of our clientele and realize that city life can often become a burden. Our homes are designed to interact with nature, as Louver glass is utilized to allow sunlight through but no sunrays, and as a result, dependency on natural light is maximized. Incorporating climatology into realty is just one of the several techniques Adani Realty has pioneered for indulgent living. Luxury is a priority and no compromises are made when it comes to the comfort of our valued customers.

Commercial spaces, malls, multiplexes, hotels and IT parks are executed with as much precision as our residential projects, and many of our prominent landmarks define the seductive skyline of Mumbai. Because of our obsession with realty, the end result is always a landmark planned with passion!

FAQ’S

An Indian citizen who stays abroad for employment/ business/vocation or under any circumstances indicates an intention of an uncertain duration of stay abroad is a non-resident. (Persons posted in U.N. organisations and officials deputed abroad by Central/State Governments and Public Sector undertakings on temporary assignments are also treated as non-residents). Non-resident foreign citizens of Indian origin are treated on par with non-resident Indian citizens (NRIs)

A Person of Indian origin means an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan) who holds an Indian passport at any time or whose father or paternal grandfather was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955

NRIs/OCBs are granted the following facilities -

  1. 1. Maintenance of bank accounts in India
  2. 2. Investments in securities/shares of, and deposits with, Indian firms/companies
  3. 3. Investments in immovable properties in India

 

  • Under the general permission, the following categories can freely purchase immovable property in India: i) Non-Resident Indian (NRI) - that is a citizen of India residing outside India ii) Person of Indian Origin (PIO) - that is an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan), who at any time, held Indian passport, or whose father or grandfather was a citizen of India by virtue of the constitution of India or the Citizenship Act, 1955 (57 of 1955). The general permission, however, covers only the purchase of residential and commercial property.

     

Yes

Yes, under the general permission granted by the Reserve Bank, property other than agricultural land/farm house/plantation property can be acquired by NRIs provided the purchase consideration is met either out of inward remittances in foreign exchange through normal banking channels or out of funds from the purchaser's NRE/FCNR accounts maintained with the banks in India and a declaration submitted to the Central Office of Reserve Bank in form IPI 7 within a period of 90 days from the date of purchase of the property/final payment of purchase consideration.

Power of Attorney (POA) or letter of attorney is a written authorization to represent or act on other’s behalf in private, business, healthcare and legal matters, sometimes against the wishes of the other. The authorized person is known as the agent or attorney-in-fact, who is usually a legally competent relative or close friend over 18 years old. The person authorizing the other to act is the principal, grantor, or donor (of the power). A Power of Attorney is not an instrument of transfer in regard to any right, title or interest in an immovable property. Generally, one chooses a POA as a provision if he or she becomes incapacitated.

NRI/PIO/OCI Real Estate Investment Guidelines

Does Capital Gains Tax (CGT) apply to NRI/PIO/OCI?

Type of asset: Assets like house property, land and building, jewellery, development rights etc. Rate of tax deduction at source (TDS) Long term – 20.6% < short term – 30.9%.

The exemption is available (only for long term capital gains). The long term capital gains arising on the sale of a residential house can be invested in buying/ constructing another residential house within the prescribed time. The exemption is restricted to the amount of capital gains or amount invested in a new residential house, whichever is lower. If the amount of capital gains is invested in bonds of the National Highways Authority of India (NHAI) or Rural Electrification Corporation, then the entire capital gain is exempted, else the proportionate gain is exempted. As per the financial budget 2007-08, a cap of Rs. 50 lakhs has been imposed on investment that can be made in capital tax saving bonds.

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