Thumb Rule for NRI Investors to Know and Follow
Sep 26, 2018 Real Estate News
Past couple of years have been the right time for the NRI investors to invest in the real estate in the country. But right now is the perfect and favourable time for them to spend without having to worry about anything. With the rupee falling weaker against the dollar, it marks the right time for the investors to take a plunge in the India real estate.
But before you proceed, here are some rules that an NRI buyer should always live by to make sure the investment is risk-free and will give good returns in future.
To be on the safer side, it is better to go with the builder who has a name and has a reputation for delivering the projects on time. It is better to do a little background research on the developer and check to know how long they generally take to complete the projects and what are the amenities they provide and are they exactly what they promised.
Looking for the developer reputation on the forums online is a good place to start.
It is always better to be a step ahead and make sure the person you are letting your property to is a trustworthy one.
But before you proceed, here are some rules that an NRI buyer should always live by to make sure the investment is risk-free and will give good returns in future.
Know your developer
Over the past two years, the government has introduced and implemented many rules in the Indian real estate to make sure that is mostly in favour of the buyer. The rules are expected to change the face of the real estate of the country. The implementation of RERA, for example, has made sure that only the big or the reliable players will make it through. The rules have made it difficult for the developers who fool their buyers that their time is up.To be on the safer side, it is better to go with the builder who has a name and has a reputation for delivering the projects on time. It is better to do a little background research on the developer and check to know how long they generally take to complete the projects and what are the amenities they provide and are they exactly what they promised.
Looking for the developer reputation on the forums online is a good place to start.
Know your advocate
In the past, there have been cases where the person who was given a power of attorney for the property from the buyer, have duped them. It is advised that the buyer trusts their near and dear ones with the property and taking care of it. If one cannot trust their near and dear ones, there is no harm in hiring the attorney and paying them to make sure your property is in the right hands.Know your tenant
If your representative has found you a trustworthy tenant and they seemed nice when you talked to phone and even agreed to pay reasonable rent on the property, is not valid enough reason to trust a stranger. We know that it is not possible to meet your tenant when you live in another country; it is advised that you do a proper background check on the tenant. There have been cases in the past where the tenants have run an illegal business on the property.It is always better to be a step ahead and make sure the person you are letting your property to is a trustworthy one.
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