Indian diaspora may encounter hundreds of legal problems in property investment and finance. Legal solutions for NRIs are difficult to track but not impossible. Mostly, they catch up in two kinds of legal problems. The very first is related to property purchase and inheritance. And the second is connected to finance.
Investing in property is not as easy as a walk in the park. An NRI faces alike problems as an indigenous one. But hiring a veteran real estate consultant with good repo can solve most of his problems. Hiring any consultant of the housing sector may leave you puzzled. But a professional consultant can win half of the battle of property investment for you. However, he should have honesty, sugary tongue and self-driven personality.
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Taxation policy updates are the alarming bells set for the tax payers. Non-residents of India used to find them chill wind to encounter with. Over the years, scenario has been changed. Relaxation in stringent taxation policies is introduced. This is done to get migrants head around NRI investment in various sectors, such as real-estate, housing, finance and technology.
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NRIs have started looking towards Indian economy with the positive approach. As the finance schemes of the country are carved as profit-oriented, the migrants have got good chance to take advantage of NRI investment Tips. In 2014, the investment of the foreign diaspora was $ 4.71 billion which swelled to $ 6.97 billion till June 2015. The trend of swelling investment continued rapidly and it reached to $ 120 billion till September 2015.
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Better infrastructure, health and education centers and profound economy growth by reaps and bounds are the prominent interpreters of NRIs enhancing faith in India. Its local markets registered swollen investment worth $10 billion in the first half of the year 2015 by NRIs. It frequently jumped to $ 121.8 billion till September in the same financial year. There is no chance of this investment to go down in flames in the coming future.
The retirement plan of an NRI brings him/her back home. This is the prime reason of surging NRIs property investment in India. During 2005 to 2010, the surging investment in property touched 87%. The estimated growth of this investment by the year 2020 marks 30%. The respective places, which are in the list of favourite destinations for NRI property purchase, are Banagalore, Ahmedabad, Pune, Chennai, Goa and Delhi. Remember! The property should be of immovable category that can be gifted or inherited real estate property. Any inherited agriculture land, farm house and plantation land in the name of the NRI is transferable. But before, he/she should check out property name, sales deed, encumbrance certificate, patta, no due certificate, bank release letter and PAN card.
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Altering scenario of India’s economy and its rapid growth has drawn millions of NRIs eyes towards India for resettlement here. Around 2,800,000+ in Africa, 10,840,000+ in Asia, 4,200,000+ in West Asia, 1,768,834+ in Europe, 5,100,000+ in North America/ Caribbean, 510,000+ in South America and 850,000+ in Oceania are the figures of Indian population. But now, a wide population of this Indian diaspora abroad has begun resettlement in India.
