It is both safe as well as lucrative to invest in properties and there is no restriction on the number of holdings. Consequently, NRIs have diverse real estate investments in India - Residential, Commercial, Retail, Warehousing etc. Sometimes occupied by parents, or rented out, or under-construction, or just lying vacant pending an appropriate tenancy. Well-intentioned suggestions from friends and relatives notwithstanding, NRIs should consider professional advice on realty. There are specialized tasks to be performed – tenancy negotiations, repairs, general oversight and the usual buy/sell conundrum.
A professional Real Estate Advisor ensures a regular flow of market information, pertinent advice, and an efficient support system for portfolio management. Such services are not expensive, and guarantee a certain piece of mind for NRIs sitting far away from India.
A Real Estate Advisor adds substantial value, elucidated as under.
The decision to purchase or sell a property should be backed by comprehensive market research and discussions at the grass root level. However, the same may not be practical for an NRI. There is a tendency for non-residents to base their decisions on secondary sources i.e. feedback from friends, internet reviews, news reports etc. Using a professional real estate advisory service, you can make a correct assessment of potential investments. The ..
The decision to purchase or sell a property should be backed by comprehensive market research and discussions at the grass root level. However, the same may not be practical for an NRI. There is a tendency for non-residents to base their decisions on secondary sources i.e. feedback from friends, internet reviews, news reports etc. Using a professional real estate advisory service, you can make a correct assessment of potential investments. The ..
The decision to purchase or sell a property should be backed by comprehensive market research and discussions at the grass root level. However, the same may not be practical for an NRI. There is a tendency for non-residents to base their decisions on secondary sources i.e. feedback from friends, internet reviews, news reports etc. Using a professional real estate advisory service, you can make a correct assessment of potential investments. These are specialized services that collect Primary as well as Secondary market data, study trends, forecast associated risks and potential opportunities, and share unbiased recommendations on profitable investment options.
Internet has literally overloaded our world with superfluous information and data. Even Google displays paid ad results at zero position, atop the qualified search results. So when we rely heavily on the internet or on a close circle of friends & acquaintances, our decision making is not at its best.
Selling a property is not as straightforward as selling MFs or stocks. Should you buy another property or sell the existing one, or hold the portfolio and rent out? These are some crucial questions, which require comprehensive answers on the back of an in-depth knowledge pool.
All of the above requires time, energy and knowledge; your best friend may not cut it. Hiring a professional is recommended.
Outsourcing tenancy management can offload pressure of constant monitoring of tenants as well as the let out unit(s). A professional service is more than a periodic physical visit by a friend on your property. A paid service will involve a bucket of services such as assigning a professional team that works on your behalf. The Advisor will regularly communicate with tenants, ensure timely rent collections, resolve issues pertaining to safety or maintenance , and effect compliance with local taxation.
In the Indian context, legal checks are of paramount importance. NRI buyers sometimes depend on their lenders for title confirmation. Banks & NBFCs are primarily financing institutions, and utilize third party legal assistance for title search & verification. A loan approval does not automatically make your investment risk free. It is essential to obtain a detailed legal check on the land/flat from a professional legal advisor and figure out the potential of any future risk or dispute.
An NRI is liable to pay capital gain tax on sale of a property. The taxation norms vary as per the possession duration of the unit before sale. A respected Realty Advisor will coordinate & ensure full compliance with relevant tax laws. Furthermore, you may need assistance in filing of tax returns, compliance of FATCA (as applicable), book-keeping, audit representations (IRS and Income Tax Department), audit per IFRS standards, and GAAP audit, formulation of contracts etc. Some other avenues wherein professional advice is indispensable include gift planning and setting up of a company, LLC and Trust.
So if you are looking for a buyers agents here to help you, just get in touch today.
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