The Non-Resident Indian also known as the NRIs have always shown interest in buying property in India. But, the implications of improper laws and the scenario of Indian property market had made these buyers disinterested in buying property here.
Fortunately, the introduction of RERA Rules has made property buying easier in India and thus the NRIs are now heading back home in order to do some serious business. Unfortunately, there are many Non-Resident Indians [NRIs] who wish to buy property here but don’t have time to visit India for the same reason. In this case, property buying becomes difficult and the NRIs eventually land in trouble.
But, now the NRIs have a reason to cheer as they can now complete the home buying process remotely with the help of internet. Here are the points that help the NRI buyers in buying property here in India.
- Choose Property Online – The availability of various property portals make the home buying an easy process. Any NRI can browse through these websites and must select the property of his/her choice according to the budget. Then only the person should move the next step in order to finalize the deal.
- Review Realtor On Social Media – The social media platform help you get a clear picture of everyone especially the businessman. So, go through various social media platforms such as the Facebook page, Twitter account etc. to know whether the realtor delivers what he/she is promises or not.
- Bring Your Power of Attorney in Use – Many NRIs won’t get time to visit India for completing the home buying formalities. In this case, one can make his/her relative/family member a representative for completing the legal formalities of home buying here.
- Transact Amount from NRE Account – The real estate sector works in not so organized manner and thus many builders ask for cash payments and other modes of transaction. So, you can pay via the NRE account you have as it is also helpful in keeping the record of payment made to the particular realtor.
- Keep an Update on Property Status – Keep a track of your property status by visiting the project website and now the introduction of RERA has made online tracking of property status easy. So, the NRIs now can keep a tab on their property status without making a visit to India.
This five-pointer guide proves beneficial for the NRIs who are interested in buying property in India but their business schedule won’t allow them to come here to complete the procedure.