For the NRIs, India property market has been an attractive place in terms of big investments. Owning a piece of property makes them feel closer to their roots and the country that has helped shape their future. For some NRIs, the intention behind investing in the India real estate is to upgrade their family home, provide their better parents with a better house. For others, it is just a clever investment opportunity as the properties in India fetch good price after few years.
 
But not every NRI jumps into the opportunity of investing in real estate of the country. There are some setbacks that drive away potential NRI investors. Lack of proper administration, untimely delivery, high loan EMIs, and lack of due diligence being the major factors. Adding to these are the builder's negligence to address the issues, no legal discourse or back to the buyers, lack of laws that helps them get justice in case the project gets stalled. These have been big de-motivating factors that drive away the NRIs from investing in the country.

Now with RERA and GST, NRIs are interested to know how it will help them in investing in the country. The government has assured that all the concerns regarding real estate and the unfair practices in the field will be addressed with RERA. There will be more transparency in the real estate now with RERA.

RERA will ensure that the buyers’ best interest is kept in the mind by the developers. There will be more transparency and the developers will not be able to use the funds given to the buyers, to fund another project. The developers will now have to inform the buyer regarding the project, its completion time and if not delivered time then the buyer will have to pay the buyer monthly interest so it won’t be a burden to the buyer. A separate RERA department has been set up in every state that will look into the grievances of the buyers and will help in getting them sorted out.

GST is one the biggest tax reforms in the country. It will eliminate all the indirect taxes and will help in getting more tax clarity for the people. There are chances of price correction after GST comes into full force.

Benami Transaction (Prohibition) Act will help in getting clearer property deals. Any person who is found guilty of owning a benami property is punishable by the law and the fine up to 25 percent of the price of the property or a jail time can be imposed on the culprit.

REITs open a brand new door for the potential investors. REITs provide much safer and secure mode of investment. It’s more transparent and the returns are good.

The above reforms and new laws will help in reviving the real estate sector of the country. It is also expected to draw more and more NRIs to invest in the country. 
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