NRI
Investing in Rajkot: A lucrative opportunity for NRIs
Rajkot, with its burgeoning real estate sector, is swiftly emerging as a prime investment destination for Non-Resident Indians (NRIs) seeking to secure their financial future and connect with their roots. Here are compelling reasons why Rajkot is capturing the attention of NRIs, coupled with insights on how Shyamal Group can facilitate their investment journey:
- Economic Growth Beyond Tier I Cities:
- Rajkot's allure lies in its burgeoning economy, which has witnessed a notable shift of growth from tier I to tier II and tier III cities. This transition opens doors to a plethora of investment opportunities for NRIs looking to diversify their portfolios.
- Vibrant Industrial and Manufacturing Sector:
- The city boasts a rapidly growing industrial and manufacturing sector, offering lucrative prospects for NRIs keen on investing in commercial spaces or industries. With Rajkot being a prominent hub for industries like engineering, auto parts manufacturing, and jewelry, NRIs have ample avenues to explore.
- Surging Demand for Residential Spaces:
- Rajkot's youthful demographic profile, characterized by a burgeoning youth population, translates into a surge in demand for residential properties. NRIs can capitalize on this trend by investing in residential projects that cater to the evolving lifestyle preferences of the urban populace.
- Well-Developed Infrastructure and Serene Environment:
- Rajkot prides itself on its well-developed infrastructure and relatively low pollution levels compared to metropolitan cities. NRIs seeking a harmonious blend of modern amenities and a serene environment find Rajkot an attractive proposition for investment and peaceful living.
- Rental Property Demand and Urban Development:
- The city's fast-paced urban development fuels the demand for rental properties, presenting NRIs with an opportunity to generate steady rental income. Additionally, ongoing infrastructure projects and urban initiatives promise future appreciation in property value, making Rajkot an investment hotspot.
Crafting Dreams, Building Legacies Since 2004
We're not just builders; we're storytellers, weaving dreams into reality and crafting legacies that withstand the test of time. We sculpt the urban landscape, leaving an enduring imprint of quality and innovation.
Shyamal Group
Your trusted partner in Rajkot's real estate journey
Shyamal Group, with its decades-long legacy of excellence and commitment to customer satisfaction, stands as a beacon of trust and reliability for NRIs navigating the complex realm of real estate investments in Rajkot. Here's how Shyamal Group can assist NRIs in their investment endeavors:
- Expert Guidance and Assistance:
- Leveraging its extensive expertise and industry knowledge, Shyamal Group offers personalized guidance to NRIs, ensuring informed investment decisions aligned with their financial goals and preferences.
- Seamless Investment Process:
- From property selection to legal formalities, Shyamal Group streamlines the investment process for NRIs, offering end-to-end assistance to facilitate smooth transactions and hassle-free ownership experiences.
- Diverse Portfolio of Projects:
- With a diverse portfolio comprising residential and commercial projects, Shyamal Group caters to the varied investment needs and aspirations of NRIs, presenting an array of options to choose from based on individual preferences and budgetary considerations.
- Transparency and Integrity:
- Upholding the highest standards of transparency and integrity, Shyamal Group ensures that every transaction is conducted ethically and in compliance with regulatory norms, instilling confidence and trust among NRIs.
- Customer-Centric Approach:
- At the core of its ethos lies a customer-centric approach, wherein Shyamal Group prioritizes the needs and satisfaction of its clients, striving to exceed expectations and deliver unparalleled value at every step of the investment journey.
In conclusion, Rajkot's burgeoning real estate landscape offers NRIs a wealth of investment opportunities, and Shyamal Group serves as the trusted partner empowering them to capitalize on these prospects and embark on a rewarding real estate journey in Rajkot.
Frequently Asked Questions
Navigating NRI real estate queries
Who is an NRI under the provisions of Foreign Exchange Management Act?
An Indian Citizen who stays abroad for employment or is carrying on business or vocation outside India or stays abroad under circumstances indicating an intention for an non- resident Indian is an NRI. Person who is not resident in India for a period over 182 days is a non-resident Indian. Persons posted in U.N. organizations and officials deputed abroad by Central/State governments and Public Sector undertakings on temporary assignments are also treated as non-residents.
Who is a Person of Indian Origin (PIO)?
Under the provisions of Foreign Exchange Management Act a person of Indian origin is an individual (other than a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal, Bhutan) who at any time held an Indian passport, or he or his father or his grandfather was a citizen of India by virtue of the Constitution of India or Citizenship Act, 1955 (57 of 1955).
Do NRIs and PIOs require permission from Reserve Bank to acquire residential / commercial property in India?
NRIs and PIOs do not require permission from RBI to acquire residential / commercial premises in India (other than agricultural land/farm house/plantation property).
Can the sale proceeds of residential / commercial premises be remitted out of India?
The sale proceeds of immovable property other than agricultural land / farmhouse / plantation property can be remitted out of India on fulfillment of certain conditions.
Can NRIs obtain loans for acquisition of residential premises from authorized dealers / financial institutional providing housing finance?
Yes. NRIs can obtain loans. However repayment of loan should be made within a period not exceeding 15 years out of inward remittances or out of funds held in the borrower's NRE/FCNR/NRO accounts.
Can Indian companies grant loans to their NRI staff?
Reserve Bank permits Indian firms/companies to grant housing loans to their employees deputed abroad and holding Indian passports subject to certain conditions.
Can NRIs and PIOs gift residential / commercial premises to relatives / registered chartiable trusts / organizations in India?
General permission has been granted by Reserve Bank to NRIs and PIOs to transfer by way of gift immovable property held by them in India to relatives and chartiable trusts/organisations subject to compliance of the condition the provisions of other applicable laws.
Can NRIs and PIOs give residential / commercial premises on rent if not required for immediate use?
Yes. Reserve Bank has granted general permissions for letting out any immovable property in India. The rental income or proceeds of any such income are eligible for repatriation subject to payment of taxes and production of a certificate issued by a chartered accountant with the guidance of an Authorised Dealer such as a bank for completion of divalities.
How should NRIs and PIOs make payment of the consideration for residential/commercial property?
The purchase consideration should be met either out of inward remittances in foreign exchange through normal banking channels or out of funds from NRE/FCNR/NRO accounts maintained with banks in India.
Are any conditions required to be fulfilled if repatriation of sale proceeds is desired?
Applications for repatriation of sale proceeds are considered provided the sale takes place after three years from the date of final purchase deed from the date of payment of final installment of consideration amount, whichever is later.
