The price of property is skyrocketing in India. It’s immensely difficult to think about investing in a property through personal finance. There are many reasons behind this fact, like limited monthly income, uncertain expenses etc.. Undoubtedly, funding for home costs an arm and a leg. But still, it’s possible to buy a home. Yes, you can have it through home loan. You don’t need to take out mortgage. Neither do you need to take financial help from your relatives.
Read MoreMonth: May 2018
Tips to Monitor NRIs Property in India
NRI’s problems related to property monitoring:
Do you own a property in India?
It’s a walkover if you live in India. You need not spend hundreds of dollars for visiting your own property. Neither would you worry about the encroachers. However, unscrupulous people tend to seize properties. But, if you make occasional rounds, it ensures that your fixed asset would be safe.
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Social Security – NRI Parent’s Income Source in USA
Senior Citizens in India:
The Ministry of Social Justice and Empowerment stated that India had 103.8 million senior citizens in 2011. This count is likely to rise by 143 million & 173 million senior citizens till 2021 and 2026. The people over 60 years of age, who are called senior citizens in India, would contribute 25 percent to its total population by 2050.
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Tax Implications for NRI Property Investment in India
Do you know that you’ve to pay tax if you want to sell or purchase property in India from abroad?
Yes, you have to pay. Before taking any such step, you should know the property investment taxation laws for NRIs. Otherwise, your taxable money would mount a lot.
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