What Makes Buying Villas in Kerala an Attractive Option for NRIs?
Buying villas in Kerala has become an attractive option for Non-Resident Indians (NRIs) looking for real estate investments in India. The Kerala state also offers several benefits that make it an ideal place for NRIs to invest their money. From beautiful Rivers and backwaters to friendly locals and vibrant culture, Kerala has something to offer everyone looking for a safe and secure property investment in India. Furthermore, the state’s robust infrastructure makes it easier for NRIs to manage their investments from abroad. With all these advantages, it’s no wonder why buying villas in Kerala is becoming increasingly popular among NRIs.
Factors to Consider Before Investing in Villas in Kerala as an NRI
- Authorization
- Power of attorney
- Payment remittance.
- Loan
- Property Tax Regulations & Other Costs When Buying Villa Property in Kerala
Investing in real estate is a smart decision for NRIs looking to diversify their portfolio. Kerala is a particularly attractive destination for those looking to invest in villas due to its scenic beauty and the potential for high returns. However, several factors should be considered before investing in villas in Kerala, such as location, amenities, and permitted requirements. In this article, we will look at some of the critical factors that NRIs should consider before investing in Kerala villas. We will also explore some of the best locations for NRI investment opportunities in Kerala and how to get the most out of your investment.
Authorization
NRIs are allowed to purchase land in India for residential or commercial purposes without any restrictions or special permission from the RBI. The RBI has granted general permission to NRIs for land acquisition. However, NRIs are not allowed to purchase agricultural land, plantation land, or farmhouses without prior approval from the RBI. Purchasing other types of property does not require any additional procedure.
Power of attorney
The rules and regulations outlined in the Foreign Exchange Management Act (FEMA) and the guidelines of the Reserve Bank of India (RBI) allow Non-Resident Indians (NRIs) to invest in residential or commercial property in India. NRIs are also permitted to fund their home loans in Indian rupees. Concerning joint ownership, an NRI has the option to either own the property solely or jointly with an Indian citizen, subject to the eligibility criteria for the license.
Payment remittance.
By the regulations of the RBI under the Foreign Exchange Management Act (FEMA), NRIs are required to make property purchases in India exclusively in Indian currency. Utilizing a non-resident account, such as an NRO/NRE account (Non-Resident Ordinary or Non-Resident External Account) or an FCNR account (Foreign Currency Non-Resident Account) can facilitate this process.
Loan
NRIs have the option of obtaining a home loan to procure real estate in India, just like Indian residents. There are no limitations on the loan amount and most banks and NBFCs readily offer loans to NRIs with minimal inconvenience. It is worth noting, however, that the interest rates may be higher, subject to the lender’s discretion.
Property Tax Regulations & Other Costs When Buying Villa Property in Kerala
Buying villa property in Kerala can be a great investment. But it is important to be aware of the various costs and regulations associated with such an investment.
Tips on How to Make the Most Out of Your Investment in Villas in Kerala
Currently, the country is witnessing an increase in opulent apartment options. Signifying a promising opportunity for non-resident Indians to invest in the real estate sector. Top developers like V3 Homes offer great options for buying properties. Villas in Kerala are of impeccable style and world-class amenities that meet international standards. This provides an exclusive chance to own and experience some of the most exquisite homes in the region.
If you are interested in buying villas in Palakkad, Thrissur area of Kerala, then V3 Homes is a great option for you. Many builders like V3 Homes are dedicated to excelling in villas in Kerala with impeccable style and world-class amenities that meet international standards. There’s only one reason why v3 Homes stand out, and that’s because it doesn’t abuse people’s trust. Villas in harmony with nature are the speciality of v3. It is important to mention that we do not make any compromises in terms of safety while building villas in an eco-friendly manner.
Get in Touch with V3 HOMES
If you have inquiries about our villas, you’re welcome to reach out to our knowledgeable team at V3 Homes. We’re available to assist you. Feel free to phone us on +91 9539 336 336
or send us an email at enquiry@v3homes.in