FAQ: Do foreign citizens of Indian origin, an Nri citizen or PIO holding foreign passport, require any permission to buy property in India ? A: The Reserve Bank has granted permission to foreign citizens of Indian origin, a PIO or an Nri citizen, holding foreign passport, whether resident in India or abroad, to buy property here
FAQ: Can NRO NRE accounts be maintained by an NRI citizen or PIO jointly with residents ? A: NRO accounts can be held jointly with residents. However, it is not applicable for NRE bank accounts
FAQ: Are the sale proceeds of any PIO real estate repatriable overseas ? A: Yes, the proceeds of any PIO real estate sale are repatriable. The transfer shall, however, not exceed the amount paid in foreign exchange received through inward remittance or out of funds in FCNR account or foreign exchange equivalent of amount paid out of NRE acount. The excess sale consideration over the amount paid (profit) can be remitted or transfered abroad, out of NRO account subject to One million U.S. Dollars per financial year per person, after payment of income tax on the property by the Nri citizen or PIO
FAQ. Is the properties rental income repatriable overseas ? A: Yes, the properties rental income is repatriable overseas after payment of income tax by the Nri or PIO
FAQ: Is nomination allowed in NRO NRE accounts ? A: Yes
FAQ: What is the approved method of sending remittances from abroad for an Nri property ? A: For an Nri citizen of Indian origin, the approved procedure of sending remittances abroad is through normal banking channels
FAQ. Is there a possibility of India going through a Sub Prime crisis too ? A. No bank has reported foreclosures till date in India.
Each property loan is guaranteed by someone known to the borrower (As far as we know such Guarantor provision does not exist in US Home Mortgage Agreements)
The legal process starts - which is very laborious. Indian banks have to issue legal notices, follow rules etc. before it can attach the property. Even after attaching, selling-off is not easy. Again, court will be involved. Obviously, people chucking their real estate in India and running away, is just a dream that many Nri's overseas may have
FAQ: How is Jain Properties Delhi compensated ?
A: In Delhi Gurgaon Noida, the real estate developers pay brokerage to agents, so buyers dont need to pay any commission
FAQ: Is Jain Properties Delhi a registered real estate agent ? A: Yes we are registered under service tax and also authorised channel sales partners of all the 10 'A' rated properties developers in Gurgaon, Delhi and Noida
FAQ: What is the advantage in going for an original booking through Jain Properties Delhi, as compared to going directly to the real estate builder ? A: The real estate developer will tell you only the positives of his "property for sale", in addition to all the negatives of "For Sale" competitor projects. Whereas a good realtor will give you various options amongst different properties in different locations of Noida, Gurgaon and New Delhi (by 'A' grade promoters only) and will tell you the strengths and weaknesses in every "property for sale" by comparing all |