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Welcome to Shree Sai Estate

Jaipur Real Estate :: Shree Sai Estate : Real Estate Jaipur, Real Estate Consultant India Jaipur, SEZ Jaipur, Property Dealer Jaipur, Pre Launch Plot Jaipur, Apartments Jaipur, Lease Jaipur, To-Let Jaipur, Jaipur Property Agent ,Melange, Narayan, Narayan Group, Narayan Infinity, Narayan Infinity club, Ansal Jaipur,Omaxe Jaipur, Vatika Jaipur, DLF Jaipur, World trade Park, Gold Souk, Suncity Jaipur, MGF, Parsvnath Group, Parsvnath Narayan City Jaipur,Piyush Group, PSG Developers, Vian city,Shri Balagi & Co., The GTM Group, Manglam Group, Amrapali Group, MAhindra World City Jaipur, Mahindra Jaipur, House, Office, Apartment, Flat



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NRI Zone

Investments in real estate

NRI Investment rules simplified

The federal government has considerably eased entry norms for NRI investment in real estate. Foreign citizens of Indian origin (PIOs) have been permitted to invest without the need to obtain approval from the Reserve Bank of India. With the passage of FEMA, the power to effect repatriation proceeds has been decentralized and delegated to authorized foreign exchange dealers. What is more, even the rental income can be repatriated now. It makes sense for NRIs now to earmark a portion of their investment portfolio in real estate and earn competitive return on investment.

Reserve Bank of India (RBI) Guidelines on NRI Investment

I. PERMISSION FOR PURCHASE OF RESIDENTIAL PROPERTY / COMMERCIAL PROPERTY.


	NRIs holding Indian passports — No permission required
	NRIs holding foreign passports — Intimation to RBI via form IPI - 7 within 90 days of purchase of property or final payment of consideration. Funds Through NRE / NRO accounts.

II. SALE OF PROPERTY


	Property held by NRIs in India can be sold. No permission is required from the Reserve Bank of India.

III. REPATRIATION OF SALE PROCEEDS


	Repatriation of proceeds from sale of residential property purchased on or after 26th May 1993 is allowed.
	The RBI will consider repatriation of the consideration amount remitted in foreign exchange for the acquisition of 2 properties. The sale has to have taken place after 3 years from the date of final purchase deed or from the date of final payment.
	Application of repatriation (IPI-8) has to be done within 90 days of the sale of the property.

IV. INCOME FROM PROPERTY


	NRIs can let out immovable property in India. The rental income from the investment has to be credited to the NRO account.
		Subject to changes from time to time
		· E. & O.E.

Return on Investment

	I. RENTAL RETURNS The rental returns on an investment in
		Residential property in Bangalore is 5%-6% p.a. Commercial
		Property in Bangalore are normally in the range of 12%-15% p.a. on the invested amount.
	II. APPRECIATION OF PROPERTY
		Conservative estimate of appreciation on an investment in property in Bangalore is about 20% p.a. NRIs start to gain by investing in Real Estate when compared to the investments on the NRNR / FCNR deposits.

NRI Investment in Immovable Property in India

Acquisition, Holding, etc. of Immovable Property in India by Certain Persons

Under FERA, persons who are not citizens of India (whether resident in India or not) and companies (other than banking companies) which are not incorporated under any law in force in India are required to obtain prior permission of Reserve Bank to acquire, hold, transfer or dispose of by sale, mortgage, lease, gift, settlement or otherwise any immovable property situated in India. The work relating to the permission for acquisition etc. of immovable property is centralized in the Central Office of Reserve Bank (Foreign Investment Division) at Bombay.


	The above restrictions do not apply to immovable property taken or given on lease for a period not exceeding five years.
	Prior permission of Reserve Bank is necessary for acquisition, disposal etc. of flats in co-operative housing societies.
	In the case of partnership firms, if any of the partners is a foreign citizen, the firm should obtain permission of Reserve Bank for acquisition / disposal of the immovable property.

Investment in Housing and Real Estate Development

NRIs will be permitted to invest up to 100% in the new issue of equity shares/convertible debentures of Indian companies engaged in the following areas:


	Development of serviced plots and construction of built up residential premises;
	Real estate covering construction of residential and commercial premises including business centres and offices;
	Development of township;
	City and region level urban infrastructure facilities including roads and bridges;
	Manufacturing of building materials;
	Financing of housing development

Repatriation of original investment in this case will be permitted by Reserve Bank only after a lock in period of three years from the date of issue of the equity shares / convertible debentures. Applications for the purpose should be made to Reserve Bank (Central Office) in Form IDS(R). OCBs are not permitted to invest in these areas.

Non-Resident Indian Investment in Housing


	The Indian Government has launched a scheme to attract NRI investment in housing and real estate development. A nodal cell in the National Housing Bank (NHB) has been created to co-ordinate decisions. The cell has representatives from State Governments and other agencies and will finalize policies and procedures related to NRI investment under the agencies of the Ministry of Urban Development.
	NRIs settled in various countries will be permitted to acquire, rent, gift property and trade in housing colonies in different cities, so long as they make payment in foreign exchange. The original investment will be allowed to be repatriated after taxation in respect of manufacture of building materials, ventures in real estate and housing finance institutions will be permitted. Reserve Bank of India will issue appropriate notifications.

New Liberalized Rules For Acquisition of Immovable Property by NRIs sebi.gov.in

Residential Property - Foreign citizens of Indian Origin, whether resident in India or not, are allowed to acquire, hold,transfer or dispose of, by sale or inheritance, immovable properties situated in India. The only condition is that the sale proceeds of such properties and income accruing thereon will not be eligible for repatriation outside India.

Further incentives of foreign citizens of Indian Origin - Reserve Bank of India has since allowed repatriation of original investment in equivalent foreign exchange on residential properties, after obtaining prior approval, subject to a maximum of two houses, subject to the following conditions :


	The residential properties are purchased on or after 26th May, 1993.
	The properties are not transferred or disposed of by way of sale for a period of three years from the date of the final purchase deed or from the date of payment of final installment where the agreement for purchase so provides;
	Only the amount of sale proceeds equivalent to the original investment in foreign exchange, if sold after three years, will be allowed to be repatriated outside India and the balance amount of sale proceeds of the property should be credited to seller's Non-resident Ordinary (NRO) Account with an authorized bank in India.

Central Government Organization Assisting NRIs
Indian Investment Centre
Jeevan Vihar Sansad Marg
NEW DELHI - 110 001
Tel : 91 11 373 3673
Fax : 91 11 373 2245