There is no restriction on the number of properties that NRIs can own in India. However, NRIs obviously need to make informed decisions on such acquisitions. The most important consideration is that of whether the property purchase is for their own or their family’s actual use, or as an investment for rental income and potential capital appreciation.
Dubai led the pack of international cities that contributed significantly to the GTV of the company followed by Toronto and Melbourne. Square Yards has built up significant NRI operations in 13 international cities namely Abu Dhabi, Doha, Dubai, Kuwait, Sharjah, Hong Kong, Muscat, Melbourne, Singapore, Sharjah, Sydney and Toronto.
Track2Realty lists down the assessment by Colliers International that will drive the Asia property market in 2018. Here are the Top trends that is expected to be in the headlines.
The government seems to be determined to link the property transactions with Aadhar Number with the pretext that the linking of Aadhaar to property will ensure that all parties to the deal are present in their individual capacity. The possibility of using fake identities is virtually ruled out.
India witnessed a growth of 85% in property investments in the first nine months of 2017, compared to the same period last year, says Colliers International’s recently released report titled ‘Of High Growth, Low Real Rates and Black Swans’.
Secondary market attracts a significant number of transactions and as per a rough estimate nearly two third home buyers get an apartment in the secondary market.
From online presence to virtual tour of the property, and digital advertising to sponsored games & other connecting platforms, the developers are not leaving any stone unturned to touch base with NRIs.
Ever since the Prime Minister Narendra Modi announced the demonetisation, the buzz word vis-à-vis the real estate market has been the Benami Transactions. The government has time and again reiterated its commitment to hit out at the benami properties after the demonetisation. It is hence epxected that the Union Budget 2017-18 would have some more concrete road map and suggest financial curbs on the benami transactions.
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