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THE RISE IN YOUR CURRENCY IS THE RISE OF AN OPPORTUNITY
Your currency is stronger than ever. It’s the right time to invest in a property, and what better choice than The Wadhwa Group. Because we are known for delivering on our promise. So you get a luxurious home, with a host of amazing amenities and a lifestyle that you deserve. Invest now.
Why Invest in India?
NRI investors’ top choice has historically been the Indian real estate market. This is demonstrated by the $13.1 billion that accounts for NRI investments made in India last year, which is likely to increase by 12% this year. This expansion can be ascribed to the rise in housing demand brought on by growing urbanisation and rising personal disposable incomes.
In addition, thus far in 2022, the value of the Indian rupee has fallen by over 5.2% versus the US dollar. This results in a major victory for all NRI investors, along with real estate’s capital value increase, rental return, and digitisation of the process.
What are the advantages of NRIs Investing in India?
No matter where they go, NRIs always miss their roots. The pull towards the nation and its people is unfathomable. In the quest to establish a connection with their motherland, investing in real estate could be a great opportunity.
In India, unlike many other western countries, there is no restriction on the number of homes or businesses that one may own. Properties have a good appreciation rate and have an income source generated through rentals. The appreciation rate provides significant returns for a small initial investment. Additionally, the advantage of requesting tax deductions on revenue is available only in Indian real estate investments.
Frequently Asked Questions
A person shall be deemed to be a person not resident in India in the following cases:
- When the person stays in India for less than or up to 182 days during the preceding financial year
- When a person who has gone out of India or who stays outside India, in either case:
The definition of ‘Person of Indian Origin’ is defined under section 2 (b) of Foreign Exchange Management (borrowing and lending in rupees) Regulations, 2000 and under section 2 (xii) of Foreign Exchange Management (Deposit) Regulations, 2000 as given under:- Person of Indian Origin’ means a citizen of any country other than Bangladesh or Pakistan, if
- he At Any Time Held An Indian Passport; Or
- he Or Either Of His Parents Or Any Of His Grandparents Was A Citizen Of India By Virtue Of The Constitution Of India Or The Citizenship Act, 1955 (57 Of 1955); Or
- the Person Is A Spouse Of An Indian Citizen Or A Person Referred To In Sub-clause (A) Or (B)”
Person of Indian Origin (PIO) for the purpose of acquiring immovable property in India as given under:- “Person of Indian origin’ means an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan), who
- At any time, held an Indian passport; or
- Who or either of whose father or mother or whose grandfather or grandmother was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955)
- Maintenance of bank accounts in India
- Investments in securities/shares of, and deposits with, Indian firms/companies
- Investments in immovable properties in India
Non-Resident Indian (NRI) – that is a citizen of India resident outside India
Person of Indian Origin (PIO) – that is an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan), who
At any time, held Indian passport, or
Who or either of whose father or grandfather was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955).The general permission, however, covers only purchase of residential and commercial property.
A Power Of Attorney (POA) or letter of attorney is a written authorization to represent or act on another’s behalf in private affairs, business, or some other legal matter, sometimes against the wishes of the other. The person authorizing the other to act is the principal, grantor, or donor (of the power).
A Power Of Attorney is not an instrument of transfer in regard to any right, title or interest in an immovable property.
A Power Of Attorney, or letter of attorney, is a document that authorizes another person, known as the agent or attorney-in-fact—usually a legally competent relative or close friend over 18 years old—to handle any combination of financial, legal and health care decisions. A power of attorney is also referred to as a POA. Generally, one chooses a POA as a provision if he or she becomes incapacitated.
Types of Power of Attorney
- Power Of Attorney (POA) is an instrument that is used by people to confer authority on somebody else to legally act on their behalf. POA are of two types.
- Special Power of Attorney (SPA), while an SPA is used for transfer of a specific right to the person on whom it is conferred.
- General Power of Attorney (GPA), the GPA authorizes the holder to do whatever is necessary.
- There is no sale clause of immovable property mentioned in POA (notarized)
- Registered POA from registration office allows sale clause and POA to any one
Following are the important things to be kept in mind while executing the POA:
- Customer Prepares POA as per defined format.
- Person to execute has to paste his/her photograph along with signature on each page.
- Authenticate/adjudicate the POA from Indian Embassy or local authority.
- Send authenticated/adjudicated POA in India.
- In India, the POA holder has to paste his/her photograph along with his/her left hand thumb impression and signature.
- Then this document will have to be stamped for Rs. 500/- (ESBTR, Franking, Stamp paper) and notarized from a Registered Notary. Please ensure that a stamp of “Before Me” is affixed on the document.
- POA holder and executants Photo ID attach before Notary
Since general permission is not available to NRI/PIO to acquire agricultural
land/plantation property/farm house in India, such proposals will require
specific approval of Reserve Bank and the proposals are considered in
In consultation with the Government of India.
- Long Term – 20.6%
- Short Term – 30.9%.