India Realty News
Properties in large and small Indian cities. Property price fluctuations for smaller cities in India are directly related to the change of plans of the smaller realty developers. Their exits from the Indian realty market have ensued owing to various economic reasons. Some of them have been linked to credit handling, others to lack of liquidity and too few local buyers for properties in the smaller cities. Scrutiny leads one to believe that opportunities like these are rare, and favor NRI’s (Non-residential Indians) and bigger developers favouring everybody involved in the business.
With forthcoming industrial developments planned in many smaller cities such as Jhansi, NRI and leading realty-company investments in these areas have begun to reduce the typical woes experienced by small developers. Industrialization in smaller cities is also attracting large workforces from more populated areas in most states of India.
The urban side of realty in India has been remarkably different in terms of appreciations and future investment plans. Banks and loan schemes have shown a tremendously positive change in resolving issues related to pre-launching funds. India has also been recognized as one of the best property investment locations in Asia, witnessing one of the most rapid increases in the development of multi complex residential towers, integrated townships and business complexes, leading to expansion of each city’s surroundings.
People already owing properties in Delhi have good news coming their way. With rental rates hiked to 12 percent, property-owning NRI’s can think of shifting gears quite safely. At the same time, experts believe that areas such as Vasant Kunj and Dwarka in Delhi have shown most affordable trends as far as property prices are concerned. Hence, Delhi may be the way to go in order to boost your realty account.
India Economy Outlook
Sprawling opportunities amongst various sectors. Investments have been pouring in from various facets of the Indian market, allowing innovative realty developers to make their mark, notably building jewelry and gem malls. The importance of realty developers being associated with gold and gem dealers looking to expand their businesses has influenced a healthy outlook in Gurgaon. For realty dealers who are looking to let out shops to jewelry dealers, this can be the right time to look around for related projects.
The hospitality sector is also one of the major opportunity providers for the NRI realty investor in India. The Pride Hotels group has announced that it will be expanding its services across India with an expectation to triple its revenues. Most community/cluster properties in Indian cities are also the right places to seek investment as their profit-making possibilities are believed to go up by more than 30 percent in the near future.
Western themes for townships amongst real estate projects have shown positive signs in terms of NRI investments through the last few weeks. Egyptian and western themes have been the hallmark of this new trend beginning to fervor underneath more visible developments. One of the leading names in the realty business in India has been Lodha. News has it that it has recently raised its bottom line with an additional 50 million rupees that came from selling its 10 percent stake at the 117-storey residential tower project in Mumbai.
Special end-to-end NRI services. Hamptons is pleased to announce one of its latest offerings in providing end-to-end services for NRI clients. Property management operations will help to provide insight into the respective markets and cities, as well as offering services related to maintenance, buying and selling of properties. Financial services, valuations, interior solutions, investment management and finding the right projects to invest in are just some of the options that are available to investors.
The greatest convenience of our end-to-end NRI services is for clients located in other parts of the world, sometimes located thousands of miles from their investment homes and property development projects.
Hamptons directs its specialized staff towards a streamlining of operations that can help you make the right investments, without the need for you to be a property investment expert. With India emerging as one of the favorite property investment sites in Asia, NRI’s may feel encouraged by the support and expertise we are able to offer.
Our approach is truly flexible and personalized, with professionals on hand to provide personal support regardless of how many investments you have planned. The end-to-end customer services are dependable, especially if you are looking to monitor the ever-changing scenario in Indian realty.
Property of the Month
Palm Hills, Gurgaon’s Sector 77. Gurgaon has been one of the township areas around Delhi to have been amidst favorable government measures regarding real estate ownership. The flexibility allowed by the government measures since last month (July) has attracted investments in Gurgaon, Delhi and neighboring areas. Owing to the measures taken by the government, Hampton’s International has been keenly following a number of real estate developments in this region. The favorite pick includes an exceptional Mortgage (loan) scheme applicable to the set of 1950sq. ft. 4-bedroom apartments, at Palm Hills, Sector 77 in Gurgaon.
The loans are based on the concept of Subvention Schemes. In this case one is required to pay only 15 percent of the total property price before occupying the premises. The second step continues into a mortgage loan that can be availed from HDFC Bank. The loan allows the property buyer to rest assured with no further payment being required for the next one and a half years, as the developer makes itself liable for EMI’s in the period. The period ends in December 2011 for Palm Hills. Thereafter, the property buyer should be able to pay EMI’s as per the paper work.
The property is well facilitated according to modern urban standards. A swimming pool, health center (including spas), recreational & entertainment facilities, tracks designed for comfortable jogging, community centers, crèches and event management services are all part of the lifestyle that one can enjoy while living in the Palm Hills apartments in Gurgaon.
Tip of the Month
NRI investment rules. With NRI investments in Indian realty becoming more prominent by the day, knowing certain rules becomes important before exchanging cash for property. With international matters of rights being prone to delays and complications, NRI’s must also know that they can acquire immovable property in India as long as it is not agricultural land or plantation. The following information may be useful for NRI’s planning their next property investment in India.
Payments made by NRI’s must be from funds remitted abroad, through proper banking channels or from legally held NRI accounts in India. The NRI accounts held in India are not acceptable or legally recognized if no transaction has been credited to the account for a certain period before buying the property. This is the legal requisite as decided by the government of India. Account transfer methods are also easy to follow once you explain your purpose to the bank staff at your end.
NRI’s may sell any immovable property which they own in India. This applies like any other rule of selling properties as they apply to normal Indian citizenship. This definitely gives a chance for the NRI’s to function as realty dealers in private properties quite easily, although they may be living in a distant city outside India. However, the government of India does not allow their ownership in properties of agriculture and plantation.
NRI’s who already own agricultural land, plantation or farmhouses may dispose of such properties by way of gift or sale to a resident person who is a citizen of India. The government directs such ruling because of numerous factors including the absence of the property owner from the geographical vicinity of farming fields. Rental income can be remitted outside India after applicable taxes have been paid to the government of India.