A property is precious. It requires proper management. But managing property from afar can be a daunting task, especially for non-resident Indians (NRIs). They stay abroad, which is a unique barrier in handling real estate assets in India. With the population of 35.4 million overseas, NRIs (including People of Indian Origins, PIOs, and Overseas Citizens of India, or OCIs) invest in real estate for consistent future returns through its rental income or buying and selling property.
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NRIs Property Management for Tenant’s Vacating Inspection
NRIs can get rid of hassles in claiming compensation amount for any wear and tear to their property management. Vacating inspection of NRI property can be pivotal for doing property management. First, there should be rental agreement between the NRI landlord and his tenant. It can make the eviction of tenant hassle free.
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Investment in Real Estate Secures NRIs Future
The search of better living place and luxurious amenities drives an Indian to go migrated. With all his bag and baggage, he steps on an alien land where his all dreams seem going to be full soon. There, higher work-pay waits for him to give his hard work corresponding reward. And for investment plan, he, again, looks at the foreign land. It is natural. He gets handsome interest in return of investment in real estate. But if some want to invest in Indian bank, they don’t find any scheme lucrative promising decent profit.
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6 Tips for NRIs Buying Property in India
Purchasing a property in India is no easy task, well to be fair it isn’t easier anywhere else but it’s increasingly tougher in India because of slow judiciary system and heaps of paperwork that you must follow.
Here are a few tips for NRIs:
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NRI Property Management are far Better Than Caretakers
Being an NRI it becomes really difficult to keep an eye on the property that you inherited or purchased for the purpose of investment. Mr. Rajnish Chadha recently went through the same turmoil. He inherited a property from his parents in Mumbai and went for the paperwork, which itself is quite a hectic task and after going through all the paperwork with help of a middleman, he flied back to Christchurch.
