BIG REASONS TO BUY
More than a few reasons to Invest in India
India’s real estate is changing little by little every day, and plentiful avenues for investment have emerged like never. Global markets experience appreciation in Real Estate, because of which India comes under the spot light as an attractive investment destination. Non-Resident Indians (NRIs) looking to establish a re-connect with their homeland, have numerous options to choose from. Casagrand brings you premium homes from across South India, with bright opportunities to invest in your dream home.
Booming property market with growth across India.
Great appreciation values for higher returns
Tax benefits with long-term gains
Variety of investment opportunities across cities
Flexible home loan options available
Versatile down payment options compared to other forms of investment.
CASAGRAND BRING YOU
Superior homes that you can invest in
Homes of various configurations across Chennai,
Coimbatore, Bengaluru and Kodaikanal
Superior homes with Branded fittings and
no wastage of space
omes located at prime locations at the best
market price point
Best State of art facilities with kids and
senior citizen friendly zones
Timely delivery of projects, Multi level Quality checks
and great Customer support
FREQUENTY ASKED QUESTIONS
Compiled for NRI’s investing in India
An NRI is any citizen of India who is not residing in India and has resided in India for less than 182 days in the preceding financial year. NRIs have professional or other commitments which require them to live outside India for an indefinite period of time. However, NRIs still have opportunities to buy real estate in India.
A PIO is any citizen not of Pakistan or Bangladesh who has:
- At any time held an Indian passport
- Parents or grandparents who are citizens of India according to the Indian Constitution
- A spouse who is an Indian citizen or PIO (for the purpose of bank deposits)
A PIO can also buy real estate in India, and invest in Indian properties.
An OCI is a person who is a citizen of another country, but also:
- Held an Indian citizenship at some point
- Was eligible for an Indian citizenship at the time of the commencement of the Indian Constitution
- Belongs to a territory that became part of India after Independence
With NRI investment in India growing at a large rate, an OCI can also buy real estate in India.
According to guidelines laid down by the RBI, the following can purchase property in India:
- A Non-Resident Indian (NRI)
- A PIO
- An OCI
All three categories are generally referred to as NRIs for the purpose of opening bank accounts, for bank deposits, for purchasing property, etc. NRI investment in India shows great potential, and any of the aforementioned can buy real estate in India.
The RBI allows NRIs to purchase immovable property in India including:
- Residential property
- Commercial assets
However, NRIs are forbidden from purchasing:
- Agricultural land
- Plantations
- Farmhouses
If you are looking for NRI investment in India and want to purchase one of these, you will need to specially apply to the RBI for permission and your case will be considered separately.
While presenting documents to buy real estate in India, NRIs fall under two categories: salaried individuals and self-employed individuals.
Salaried NRIs looking to invest and buy real estate in India should have the following documents:
- Indian passport
- PIO card/OCI card (if applicable)
- PAN card
- Power of attorney documents
- Latest salary pay slips for the past 6 months
- Income tax returns for the last 2 years
- Copy of employment contract
- Appointment letter (if applicable)
- Work permit (if applicable)
- Bank statement for the past 1 year from external bank account
- Bank statement for the last 1 year from Non-Resident External (NRE)/Non-Resident Ordinary (NRO) account
- Address proof
- Credit report
- Property related documents