Tips for NRI’s to invest in Navi Mumbai real estate market.

Introduction :

Are you Non Resident Indian? And you eye the lucrative Indian Market? Well, then must say that let not this opportunity slip off your hands. With the incorporation of the Benami ACT, FEMA, the RERA ACT, demonetisation, and the GST ACT, more and more investors are feeling secured to invest in the booming Indian Real Estate Sector. And why not? Who does not want the capital appreciation in addition to the regular rental income. Buy an apartment or a luxurious villa, the investment in the Navi Mumbai Real Estate Sector is definitely promising. Yes, the gains come hand in hand with small pain when it comes to buy a property in India. It is understandable that the less proximity to the property becomes a major issue while you decide to put the eggs in this basket

Navi Mumbai is growing by leaps and bounds. With its strategic location, tranquil environment, affordable housing and the greater commutation facilities Navi Mumbai is the first option where any investor would build a house of his own. We bring to you simple questions and give you tips so that the investment in your dreams in the Real Estate Sector becomes a happy and easy affair.

1) Why do you want to invest?

Before taking the first step towards your home, it is always advisable to introspect your purpose of investment in Navi Mumbai specially for Projects in Kharghar and Ulwe. You can be specific whether you want it for commercial use, you want to rent the residential home/apartment/villa, or you want to build a home for your old age. If you are looking for only high returns, then select highly developed areas of Navi Mumbai.

2) Did you check how credible is the house Developer?

Once the location is finalised upon, the next tough decision is about the house Developer. You being outside India, it would be appreciated of you thoroughly check the background of the builder. Either through your kith and kins or through having a even one on one communication on skype or phone.

3) Do you opt for housing loan?

The bank process is entirely different for the NRIs. If you have a great record of repayment acquiring loan should not be a hassle at all. If you have a pre-approved loan for yourself then it is just a cake-walk. Know about housing loan thoroughly before moving ahead.

4) Do you know Tax implications in India?

Non-Residential Indians should be cautious about investment, penalties, tax payment in India. Before you invest have a walkthrough the property taxes, rental taxes to avoid any huge losses.

5) Did you verify all the legal documents?

Verify the documents meticulously. The title of the property, the previous owners and the local authorities. You should always understand if there were any legal disputes associated with the property you have chosen.

By answering honestly all these 5 questions, a dream home is no farther away.

Happy house hunting!!


Real Estate Trends for year 2018

2017 has undoubtedly been very eventful for the real estate sector. There have been many reasons for the same. But the most important reasons are the implementation of the Goods and Service Tax ( GST), The real estate regulation act ( RERA) and demonetization drive which left the whole country in surprise. The GST had created a good wave of change in the real estate sector while there are some reports which state the trend in the real estate market.

These trends were correct for 2017 and are going to be for real in 2018.

Affordable housing will be at the center stage:

There is a decrease of 18% during the second quarter of the current year as compared to the last year. Real estate market in Navi Mumbai has been doing well in the affordable housing sales as against other metropolitan cities which have failed miserably. It is said that Navi Mumbai has recorded sales across different price ranges.

Price variation:

For keeping the price levels well within the range of homebuyers the real estate developers in Navi Mumbai, may reduce the size of housing units in a way which would cater to most buyers without compromising many other important aspects of real estate.

Quality of life as a deciding factor:

Despite the price range, the homebuyers do not want to compromise on the factors such as quality of life and liveability factor. The liveability factor is nothing but sufficient space for parking, convenience store, a well-lit campus and parks as the mandatory requirements. When the price range goes above 50 lakhs, the amenities like club house, gym, swimming pool and other facilities are also included which is a great thing for buyers looking out for the quality of life.

Industry under regulation:

With RERA in place, the trust factor among the property buyers has increased, people are more than interested to invest in a destination which will give them returns. Property market in Navi Mumbai especially sub urban area such as Ulwe is making news due to the returns that it offers. Being amidst the development of the Navi Mumbai International airport, Ulwe is the most preferred destination offering better returns to the property buyer. RERA has reinforced the trust among property buyers with necessary regulation. Despite GST implementation, the tax benefit with GST is something to look forward to. Initially, there would be hesitation in the market due to GST slab, but slowly it would surpass, and the income tax benefit would be emphasized more.

These trends are to stay for 2018. The demonetization drive across the country was a game changer in real estate market. The budget for the year 2018 also did not deliver much as expected, so the real estate market is low on buying sentiment. Let us hope that we see a better 2018.