Investment Opportunities in India for NRIs, FIIs
Indian economy has given a feel good factor to the NRIs, especially in the real estate sector. Many avenues are being created as well as schemes being fashioned for them to maximize investments from abroad.
All persons residing outside India holding Indian passports and also people of Indian origin have been granted permission by the Reserve Bank of India (RBI) to invest in both residential and commercial properties in India. Markets have stabilized and there is an impressive amount of interest in this segment. NRIs are quick to invest in properties in India where they see an opportunity for a good deal.
On the anvil is a single-window investment promotion council planned by the government, which will undertake investment promotional activity. This will involve making extensive contacts with potential investors, lobbying and interacting with individual companies so that the overseas Indian finds a suitable investment environment.
To an NRI, a base in the homeland also brings with it a sense of security. The number of NRIs who are investing in property for sentimental reasons and for better investment returns is quickly multiplying.
The government including RBI and Foreign Exchange Management Act FEMA) has liberalized the rules and regulations for the NRIs to make investment in real estate. Liberalization along with the added advantage of repatriation of the capital invested and even the rental proceeds under the circumstances prescribed by RBI have also encouraged NRI investments in real estate. Capital gains can be taken back after paying capital gains tax. Apart from India being a safe destination, 10 to 12 per cent returns on the investments are assured. As opposed to earlier times when an NRI had to struggle with Municipal rules, income tax and wealth tax issues, succession legislations for all religions, the Hindu joint family Act, land ceilings and others, these are times that have NRIs being welcomed with a red carpet. The flexibility in rules has elicited an extraordinary response from the NRI community. The NRI investor can raise finances from financial institutions to purchase an apartment. The Housing Development and Finance Corporation (HDFC) and other financial institutions in India are facilitating the NRI investment in property speedily and efficiently. Though the rates of property tax are slightly different from what Indian residents pay, the NRI also enjoys the same status as any other property owner. NRIs pay property tax to the concerned authorities.
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