shyam s
Q: Hi...my cousin is NRI...he wants to buy property in India..is there any limit..??
My replies to this discussion
In terms of types of property, yes there is. Agricultural and large land for plantations is not for NRIs, while there is no limit with residential property and land, there may be certain restrictions, depending on subjective laws. There are permissions that need to be taken and processes that need to be followed when acquiring land in India, as an NRI. While you need external professional help like an agent or broker, it is always better to eliminate them and directly opt for developers that provide these services themselves. There are real estate firms that do this, and value NRI investment and big reputed names at that, mahindra lifespaces is one such company.In terms of types of property, yes there is. Agricultural and large land for plantations is not for NRIs, while there is no limit with residential property and land, there may be certain restrictions, depending on subjective laws. There are permissions that need to be taken and processes that need to be followed when acquiring land in India, as an NRI. While you need external professional help like an agent or broker, it is always better to eliminate them and directly opt for developers that provide these services themselves. There are real estate firms that do this, and value NRI investment and big reputed names at that, mahindra lifespaces is one such company.
Q: Hi..Currently i am living in Canada and i am an NRI..i just want to know if i can acquire agricultural land..??

My replies to this discussion
No According to the Foreign Exchange Management Act, NRIs and PIOs can acquire immovable property in India. However, investment in agricultural property, plantation and investment in farmhouses are prohibited. You can buy residential and commercial property. There are a lot of NRIs investing in Gurgaon of late, there are interesting projects there. The best of developers that provide unprecedented NRI services are now building properties there, such as Mahindra lifespaces and likes of them.No According to the Foreign Exchange Management Act, NRIs and PIOs can acquire immovable property in India. However, investment in agricultural property, plantation and investment in farmhouses are prohibited. You can buy residential and commercial property. There are a lot of NRIs investing in Gurgaon of late, there are interesting projects there. The best of developers that provide unprecedented NRI services are now building properties there, such as Mahindra lifespaces and likes of them.
Q: I have recent received possession letter with final payment notice. Final payment settlement does not include the "Penalty Fee on Supertech" as the possession of my apartment delayed 2 years. I tried to call customer care several times. I wrote back to them 5 times already. Still No Response. This is the height of ignorance. Next time if they come to Hong Kong with the property show, I am going to give them some serious feedback for their poor management and extremely poor customer service.
My replies to this discussion
Even I once had an awful experience with a group of developers, they werent very well known though, and cancelled my flat booking then. I decided to do thorough research before investing he next time. I heard of Mahindra lifespaces through a friend and she emphasized on the fact that they have a separate NRI sales team, where they assist them in getting property and with the procedure involved. I havent approached them as yet. But I was checking out their properties and they have some good projects in major cities. I feel like it would be a good choice as its a reputed brand also.Even I once had an awful experience with a group of developers, they werent very well known though, and cancelled my flat booking then. I decided to do thorough research before investing he next time. I heard of Mahindra lifespaces through a friend and she emphasized on the fact that they have a separate NRI sales team, where they assist them in getting property and with the procedure involved. I havent approached them as yet. But I was checking out their properties and they have some good projects in major cities. I feel like it would be a good choice as its a reputed brand also.
Ask a Question
120 Characters Left





    Trending Categories

    CommonFloor Property Search Mobile App now available on Android, iOS and Windows!