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Author: adityaram

NRI’s Guide to Buy Properties in India

NRI’s Guide to Buy Properties in India

With the rise in real estate opportunities, investing in property in India is becoming a great option, especially for non-resident Indians (NRIs). India’s real estate market has always attracted NRIs due to its growing infrastructure, strong economy, and good investment returns. However, buying property can sometimes be tricky because of market changes and economic factors. This guide will simplify the process and help make your property purchase easy and hassle-free.
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Types of Properties NRIs Can Invest In

Simple Guide for NRIs to Invest in Property in India

NRIs (Non-Resident Indians) can invest in various types of properties in India, such as residential and commercial real estate. However, to make the process faster and smoother, it’s essential to understand Indian property laws and follow any rules set by state or local governments. Here’s a breakdown:

Types of Properties NRIs Can Buy

1. Residential Properties

o NRIs can buy residential properties like apartments, villas, bungalows, flats, or farmhouses for personal use or as investments.

o There’s no limit on how many residential properties an NRI can own.

2. Commercial Properties

o NRIs can invest in commercial properties like office spaces, shops, warehouses, or industrial facilities.

o These properties can be used for business or rented out to earn income.

3. Agricultural Land

o NRIs are generally not allowed to buy agricultural land, plantations, or farmhouses.

o Exceptions: If they inherit agricultural land or meet specific criteria set by the Reserve Bank of India (RBI), they may own such properties.

4. Plantation Assets

o NRIs can own plantation properties, like tea or coffee farms, only with prior approval from the RBI.

How NRIs Can Own Property in India

The process for NRIs to purchase property in India is slightly different from that for Indian residents. Here are the key options:

1. Power of Attorney (POA)

o A POA allows someone else to act on your behalf for property transactions.

o NRIs must sign the POA in front of a legal authority, making it a convenient option if they can’t be physically present in India.

2. Joint Ownership

o NRIs can co-own property with others, just like Indian residents.

o All co-owners have equal rights to use, sell, or possess the property.

Document Checklist for NRIs

Documents Needed to Buy Property

· Indian passport or OCI card (if you have a foreign passport).

· Proof of work, such as a visa, job contract, or appointment letter.

· Recent payslips and income tax returns (last six months).

· NRE (Non-Resident External) and NRO (Non-Resident Ordinary) bank account statements (last 12 months).

· Bureau report from your country of residence.

· A POA (if applicable), signed in the bank’s specified format.

Documents to Verify Before Buying Property

· Title deed: Ensure the seller owns the property legally.

· Plan approval and building permit: Ensure the construction is authorized.

· Occupancy certificate: For completed buildings.

· Encumbrance certificate: Confirms the property is free of debt.

· Society NOC: If applicable

Step-by-Step Guide for NRIs

1. Choose a Property Type: Decide whether you want a residential, commercial, or other type of property.

2. Plan Financing: Choose between self-financing or taking a housing loan.

3. Find Trusted Agents or Websites: Work with verified real estate agents or platforms.

4. Research Thoroughly: Look into factors like location, amenities, resale potential, and accessibility.

5. Verify Documents: Ensure the property and seller’s documents are genuine. Seek legal advice if needed.

6. Sign the Sale Agreement: Both parties agree on terms, payment schedule, and possession date.

7. Register the Property: Finalize ownership by registering the property with the sub-registrar’s office.

 

Tax Rules for NRIs

· NRIs must pay 20% TDS (Tax Deducted at Source) when buying property worth over ₹50 lakhs.

· For properties under ₹50 lakhs, the TDS is 1%.

· NRIs can apply for a reduced tax deduction or exemption.

FAQs

1. How many properties can NRIs buy?

o NRIs can buy unlimited properties, except for agricultural land or plantations.

2. Can NRIs buy property without POA?

o Yes, NRIs can handle the entire process themselves without appointing a POA.

3. Can NRIs buy property without being in India?

o Yes, they can complete the transaction using a POA.

4. Can NRIs own agricultural land?

o Only under specific rules, such as inheritance or RBI approval.

5. Can NRIs get home loans in India?

o Yes, NRIs can apply for home loans, provided they meet the bank’s criteria for income, credit history, and documents.

This guide simplifies the process and ensures a hassle-free experience for NRIs looking to invest in Indian real estate.

in NRI Posted by adityaram

Future Development Potential – Real Estate Investment

Kelambakkam - OMR - Chennai

Investing in residential land and plots in Kelambakkam, along the OMR (Old Mahabalipuram Road) in Chennai, offers numerous benefits due to the area’s rapid development and strategic location. Here’s why Kelambakkam is a prime location for property investment:

1. Strategic Location

Kelambakkam is situated on the OMR, which is Chennai’s IT corridor. This stretch is home to many tech parks, multinational companies, and IT hubs, making it a hotspot for professionals looking to buy or rent homes close to their workplaces.

It also provides easy access to other key areas like Siruseri, Sholinganallur, and Thiruporur, as well as the ECR (East Coast Road).

2. High Appreciation Potential

As more businesses and IT companies expand in the OMR region, Kelambakkam is experiencing rapid infrastructure development. This growth is driving up land and property prices, offering strong appreciation potential for investors.

Ongoing developments in public infrastructure, including improved roads, schools, hospitals, and shopping complexes, will continue to boost property values in the area.

3. Proximity to Employment Hubs

Kelambakkam is near large employment hubs such as Siruseri IT Park (Asia’s largest IT park), which houses companies like TCS, Cognizant, and Infosys. This proximity ensures high demand for residential spaces, whether for purchase or rental.

4. Affordable Investment Options

Compared to more developed areas along OMR, Kelambakkam offers relatively affordable residential plots and land. This makes it a good choice for NRI investors looking to invest the real estate market in chennai at lower price points but with the potential for high future returns.

It also offers the opportunity to buy now and build later, providing flexibility to investors.

5. Excellent Connectivity

Kelambakkam is well-connected to Chennai’s major areas, including Tambaram, Velachery, and Sholinganallur, via OMR and ECR. This enhances the location’s appeal for both working professionals and families.

The upcoming Chennai Metro expansion plans will further improve connectivity, making the area even more accessible.

6. Developing Social Infrastructure

The area boasts good social infrastructure, including reputed schools like VIT University, Hindustan University, and hospitals like Chettinad Health City. This makes Kelambakkam an attractive residential area for families and professionals alike.

The presence has lots of shopping malls, restaurants, and recreational facilities also adds to the area’s livability.

7. Rental Income Potential

With a growing influx of IT professionals and students, there’s a high demand for rental properties in Kelambakkam. Investors can benefit from steady rental income, especially from those working in nearby IT parks.

It’s an attractive option for professionals seeking housing close to work, ensuring sustained rental demand.

8. Green and Peaceful Environment

Kelambakkam offers a peaceful and less congested environment compared to central Chennai. Despite being close to the city’s IT hub, it provides a serene living space with access to greenery and open spaces, making it attractive for homebuyers looking for a calm and family-friendly neighborhood.

9. Smart City and Infrastructure Growth

The area is part of Chennai’s ongoing infrastructure growth plans, with several smart city initiatives being proposed. This includes improved road networks, water supply systems, and public utilities, further enhancing the value of land and plots in Kelambakkam.

10. Future Development Potential

Kelambakkam’s strategic location between OMR and ECR positions it as a key zone for future residential and commercial developments. Investors can expect steady growth and increasing demand as the area continues to develop.

In summary, Kelambakkam offers a combination of affordability, strategic location, excellent connectivity, and proximity to employment hubs, making it an ideal choice for investing in residential land and plots in Chennai.

in NRI Posted by adityaram

Why invest in residential land and plots Kelambakkam omr chennai?

1. Strategic Location

OMR: Known as the IT hub of Chennai, OMR is home to several technology parks, multinational companies, and educational institutions. Investing in Thiruporur along this corridor gives you access to high-growth areas with strong demand for residential and commercial spaces.

ECR: Known for its scenic beauty and coastal charm, ECR is a prime destination for luxury villas, resorts, and vacation homes. It’s becoming increasingly popular with high-net-worth individuals seeking premium living options.

2. High Appreciation Potential

Thiruporur is witnessing rapid urban development due to its proximity to major employment hubs on OMR and the growth of residential and commercial infrastructure. This leads to strong potential for property value appreciation in the coming years.

3. Excellent Connectivity

The area is well-connected to key parts of Chennai, including IT corridors, business centers, and tourist attractions. The proposed expansion of metro and public transport routes further enhances the area’s connectivity, increasing its appeal for both investors and homebuyers.

4. Affordable Investment Opportunities

Compared to prime areas in Chennai, Thiruporur offers more affordable land and property prices, making it an excellent choice for those looking to invest at lower entry points but with high long-term growth potential.

5. Infrastructure Development

With ongoing developments like Chennai Peripheral Road, Chennai-Bengaluru Industrial Corridor, and new residential complexes, the area is set for rapid urbanization, driving demand for both residential and commercial properties.

6. Growing Demand for Residential Spaces

As more IT companies and industries set up operations near OMR and ECR, the demand for residential spaces in Thiruporur is on the rise. This presents a good opportunity for investors looking at rental income or resale in the future.

7. Peaceful Environment with Urban Amenities

Thiruporur offers a balance between urban amenities and a peaceful, less congested environment. Its proximity to the beach on ECR and access to city conveniences makes it an attractive location for families, working professionals, and retirees.

8. Tourism and Leisure Attractions

Located close to popular destinations like Mahabalipuram, Covelong Beach, and Kovalam, ECR is a hotspot for leisure and tourism. Investors can capitalize on this by developing holiday homes, resorts, or vacation rentals.

9. Investment in Smart City Initiatives

The government has planned several smart city projects along the OMR-ECR corridor, enhancing infrastructure, public utilities, and overall living standards. This boosts the attractiveness of property investments in Thiruporur.

In summary, Thiruporur along OMR and ECR offers a combination of affordability, high growth potential, strategic location, and excellent connectivity. These factors make it a great option for both short-term gains and long-term investment in Chennai’s booming real estate market.

in NRI Posted by adityaram

Adityaram’s Palace City – The Perfect Choice for NRI Investors

As an NRI investor, finding the ideal real estate investment that combines luxury, exclusivity, and high returns is no easy feat. But if you’re searching for a prestigious property in one of Chennai’s most sought-after locations, your search ends with Adityaram’s Palace City. Offering Palace-Themed Luxury Villas, this project is designed to meet the refined tastes of global investors while ensuring high appreciation. Let’s explore why Adityaram’s Palace City is the ultimate real estate investment opportunity for NRIs.

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Luxury Like Never Before: 3, 4, & 5 BHK Villas

At Adityaram’s Palace City, luxury is at the heart of every villa. These sprawling 3, 4, and 5 BHK villas are built with grandeur in mind, offering spacious, elegant living areas that are perfect for families or those who crave opulence. Each villa is designed to provide comfort and sophistication, making them a great choice for both long-term living and vacation homes.

Neo-Classical Architecture: A Timeless Design

One of the standout features of Adityaram’s Palace City is its Neo-Classical Architecture, which exudes elegance and timelessness. This architectural style, characterized by grand columns, intricate facades, and expansive open spaces, brings a regal charm to each villa. Living in one of these palace-themed luxury villas means enjoying the beauty of classic design with all the comforts of modern-day amenities.

The grandeur of Neo-Classical architecture also adds immense aesthetic and market value to the properties, ensuring that your investment not only provides you with a luxurious lifestyle but also guarantees long-term appreciation.

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Prime Location: The Most Premium & Posh Community of ECR

Location is key when it comes to real estate, and Adityaram’s Palace City is located in the most premium and posh community of East Coast Road (ECR). ECR is widely known for its luxurious properties, scenic ocean views, and elite community, making it one of the most desirable areas in Chennai. This prime location is perfect for NRIs looking for a secure investment in a high-demand area.

From excellent schools, shopping hubs, and fine dining restaurants to beachside resorts and entertainment centers, living in ECR ensures easy access to all essential amenities.

3-Way Connectivity: A Strategic Advantage

Adityaram’s Palace City offers seamless 3-way connectivity through key roads, making it easy for residents to travel and commute:

ECR – OMR Link Road: Providing quick access to the Old Mahabalipuram Road, known as Chennai’s IT corridor, this road ensures that professionals working in the tech hubs have smooth connectivity.

Akkarai: A prime locality offering access to high-end social infrastructure, Akkarai enhances the overall convenience of living at Adityaram’s Palace City.

Panaiyur: A calm and upscale coastal neighborhood, Panaiyur offers easy access to the beach, allowing residents to enjoy the best of coastal living.

This strategic connectivity not only makes commuting easy but also adds immense value to your investment.

High Appreciation Guaranteed: A Smart Investment

One of the most compelling reasons for NRIs to invest in Adityaram’s Palace City is the promise of high appreciation. The combination of its premium location, unique palace-themed villas, and superior connectivity makes these properties highly sought after in the real estate market. The demand for luxury villas in Chennai’s ECR region is constantly growing, ensuring that the value of your property will continue to rise over time.

Whether you plan to use the villa as a vacation home, rent it out, or simply hold onto it for future gains, investing in Adityaram’s Palace City guarantees long-term financial benefits.

Why Adityaram’s Palace City is the Best Choice for NRI Investors

As an NRI, you deserve an investment that reflects your global lifestyle, offers excellent returns, and provides security for your future. Adityaram’s Palace City ticks all these boxes and more. Here’s why: Palace-Themed Luxury: Live like royalty in grand, palace-themed villas that are the epitome of luxury. Prime Location: Enjoy the exclusivity of living in ECR, one of Chennai’s most premium communities. High Returns: Secure your financial future with an investment that guarantees high appreciation. Strategic Connectivity: Seamless 3-way connectivity ensures that you’re well-connected to key parts of the city. World-Class Amenities: With beautifully designed villas and access to top-notch infrastructure, you’ll enjoy a lifestyle that’s both luxurious and convenient.

Invest in Your Future Today!

For NRIs looking to make a secure, high-yielding investment, Adityaram’s Palace City offers a rare opportunity to own a luxurious villa in one of Chennai’s most prestigious locations. With its 3, 4, and 5 BHK villas, Neo-Classical Architecture, and 3-way connectivity, this project is an investment in both lifestyle and financial growth.

Don’t miss your chance to own a slice of luxury in Chennai’s ECR. Contact us today to learn more about Adityaram’s Palace City and how you can be a part of this exclusive community!

in NRI Posted by adityaram

Benefits of CMDA approved plots in Chennai

Chennai Metropolitan Development Authority is an acronym for CMDA. The Tamil Nadu Government formed the CMDA as a statutory organization. The Chennai Metropolitan Development Authority (CMDA) is in charge of regulating physical developments in the Chennai metropolitan area. As a result, the Chennai Metropolitan Development Authority (CMDA) has already made a genius plan that specifies land use permission in all areas of the Chennai metro region. What is the significance of CMDA in plots? It is critical to establish a responsible authority to oversee the processes and adhere to the guidelines in order for proper planning/development to take place in a community. This really aids in the formation of a better potential course of action. People will support a CMDA-approved plot if they believe it is legitimate. Though the CMDA approval process is more rigorous than the DTCP, the value of CMDA plots is expected to rise in the future as it falls within the city limits. Similarly, Eternity villa plots in ECR are CMDA licensed, indicating that you are purchasing a plot inside Chennai city limits that will appreciate in value in the future. The Advantages of CMDA-Approved Plots
  1. The DTCP and CMDA approvals include the value of owning a plot/land that can be used for a particular purpose that the planning authority has designated.
  2. The most significant advantage of DTCP or CMDA approval is the ability to obtain property approval. This can also serve as a guarantee that the structure will not be demolished without following the correct procedures for the approved layouts.
  3. Buildings built on CMDA-approved plots/land are rarely demolished, as it is not encouraged unless there is a clear legal reason. This advantage is not available in plots/layouts that have not been accepted.
  4. If approval is sought, the property’s value will skyrocket, and the resale value will skyrocket as well.
  5. Investors can purchase DTCP-approved plots in developing areas that are lacking in infrastructure growth. Whereas CMDA plots are located within city limits, you are purchasing an asset with a sound infrastructure that includes schools, multinational businesses, metro, and flyovers.
  6. Transparency in land/plot transactions has been improved, and resale has been made easier.
  7. Banks can also only accept loans or finance the construction or reconstruction of a building if the land has been approved.
Among the various real investment options, plots are the highest. Calculated decision-making contributes to the right investments. Purchasing CMDA-approved plots in ECR ensures a smooth transaction and eliminates potential headaches.
in Adityaram Properties, ECR, Plots Posted by adityaram

Important things to know before you buy DTCP Approved plot in ECR, Chennai

Many people dream of owning land on which to create their own home. This is particularly true for young men and women who have big dreams and wishes for a happy and prosperous life.

Today, we can see a number of real estate companies offering appealing property promotions in a variety of locations. Property of this kind is available for purchase both within the city limits and in the surrounding or sub-urban areas. Some DTCP Approved Plots in ECR, Chennai properties are ideal for building your dream home, while others are ideal for investing. However, even if you wait years, some properties cannot have the desired return on investment or at least a fair increase in value. As a result, it’s critical to understand a few factors before purchasing land or a plot for investment or house building.

There are a few important things that you should be aware of before buying a plot. It will help you to find the correct property/land.

DTCP Approved Residential Plots in ECR

You’ll need to learn about the zoning ordinances put in place by the city council to control land use, which is also set by the local planning board. The aim of this plan is to make sure that property owners achieve their goal of owning DTCP Approved Plots in ECR.

Black-Top Road

You can also make certain that the land you purchase has a good black-top road. Adityaram Properties ensures that your plot has quality roads that are asphalted to standards. They also have adequate street lighting, which is a requirement for any DTCP Approved Plots in ECR. The landscaping along the roads allows for nice evening walks in the pristine surroundings.

Examine the website

Never underestimate the value of reviewing a website before making a purchase. Factors like avenue plantation, children play area & parks, 24/7 security, and blacktop road should all be considered.

Estimated market value

Try to learn as much as you can about the market value of land in the area/zone where you want to purchase. As a result, you will get an idea of the plot’s fair expense before paying and signing the paperwork.

Adityaram Properties ensures that all of these values are present in their plots so that you can obtain the best DTCP Approved Plots in ECR.

in ECR, Plots Posted by adityaram

Follow easy steps before buying residential plots in ECR

Buying a dream house, buying a plot of land, and then building your personal dream home on it.

All desires a home of their own. Buying a dream house, buying a plot of land, and then building your personal dream home on it. However, with rising real estate prices, finding a suitable residential plot is becoming increasingly difficult, and even if we do, it is usually unaffordable. Land is the most common form of the property when it comes to real estate investment. However, there are a few main thoughts to bear in mind when buying land, without which your purchase might not be as sound an investment as you hoped.

Ensure these things when you buy Residential Plots in ECR

LICENSES AND APPROVALS

At first, examine the paperwork. The owner’s name should appear on all paperwork. Do not be fooled by a seller’s assurance that the records are in the name of a previous owner. If you want to stop a splitting headache in the future, you’ll need the following papers.

TITLE DEED

If you want undisputed legal ownership of land for rent, you’ll need a valid title deed. If it’s an agricultural plot, a residential plot, or a commercial investment plot, look for unknown deeds often. Any ambiguous deeds concerning the transfer of land to you must be settled in advance. It would be helpful if you could discuss the title deed with a lawyer.

CHECK THE PROPERTY IS LOCATED WITHIN THE CITY LIMITS

Check to see whether the CMDA (Chennai Metro Development Authority), DTCP (Directorate of Town & Country Planning), and the local government have approved it. For a small charge, a copy of the CMDA & DTCP-approved layout can be obtained. To determine whether a plot is appropriate for construction, consult a lawyer, architect, or licensed surveyor.

As a result, determining the plot’s potential is critical before making a purchase decision. Use it to evaluate the property if you have a specific plot project in mind.

If you take care of the above-mentioned points, you’ll be ready to invest or buy residential plots in ECR!

in ECR, Plots Posted by adityaram

Top 5 Reasons to Buy Residential Plots in ECR

Do you want to buy Residential plots in ECR, Chennai? In the current scenario, purchasing commercial or residential land, especially in cities such as Chennai, is not an easy task. You must make several careful plans in order to purchase a residential plot in ECR. East Coast Road, or ECR, is currently one of the most popular areas to buy properties at. ECR was created by linking a series of small village roads that ran along with the major locations. The fact that ECR is close to OMR, India’s IT center, added advantages to the investment potential.

Even after the COVID-19 pandemic situation, the real estate market is booming and will continue to do so for a long time. The Residential plot in ECR will be influenced by this trend.

Here are some of the factors that have helped ECR to gain a lot of attention:

  1. Fast Access to OMR:

OMR, also known as the IT corridor, is located near ECR. Both OMR and ECR have a good link. Given that OMR is home to the majority of the city’s tech industries and that many Chennai residents work in them, investing in a property in ECR would undoubtedly alleviate a lot of commuting tension.

  1. Rapid Development:

ECR, also known as State Highway 49, is widely regarded as the most scenic coastal highway. ECR is linked to the southern highway through Pondicherry. Small villages from Thiruvanmiyur to Mahabalipuram, such as Palavakkam, Nilangarai, Injambakkam, Muttukadu, and Kovalam, have grown as preferred real estate investment destinations.

  1. Scenic and Serene:

Infrastructure and sustainability are inextricably linked to the area’s scenic beauty. A balance is maintained by lush greenery and the requisite amount of urbanization. The sea along the road also offers a lovely breeze, which keeps the air clean. The beach along the coast would be the ideal place for a jog or even any mild physical activity.

  1. Completely worth the money

Investing in East Coast Road properties along is guaranteed to amplified profits. Over the last five years, the cost of world-class assets in ECR has risen dramatically, providing owners with a twofold return on investment. Investing in a project at ECR would be your best financial decision, whether you want to rent out your property or live in it.

  1. Facilities and Amenities

ECR is one of Chennai’s most popular tourist destinations. Aside from the stunning beach view, this neighborhood offers its residents a plethora of educational institutes, top-notch hospitals, huge malls, restaurants, shopping destinations, and entertainment centers, all of which are only a short distance away.

in ECR, Plots Posted by adityaram