Finding the right home to invest in, is a challenging task in itself. When you’re an NRI living in a different country, this becomes all the more an issue. While NRIs have been granted a wide variety of advantages regarding real estate investment, NRI investors also face certain challenges.
3 Challenges Faced by NRI Investors & Benefits of Realty Consultants Regarding the Same
Living in a different country, you might not be well acquainted with the real estate norms and regulations or the rights that the Indian Government bestows upon the NRIs. For example, the Foreign Exchange Management Act (FEMA), is a law that gives rights to NRIs to invest in properties in India. While FEMA forbids the purchase of agricultural or farmland, it does not prohibit the purchase of the residential property.
When you connect with Wealth Clinic, we will let you know a list of rules and regulations along with the rights regarding real estate investment. You should, however, go through these documents online so that you yourself are acquainted with the rights, and regulations before you proceed further.
2. Builders Without Good Record
It is a fairly difficult task to find a good builder. It is, even more, a hard task to handle, when it comes to an NRI searching for a builder or developer with a good repute. As a result, NRIs are often fooled by builders without a good reputation, who does not keep to the countless promises they make.
While we coordinate only with the best and certified builders, we also would advise you to check past records of the real estates on the state’s RERA website. Also, it is advisable that you go through the developers’ reviews online, prior to investing.
3. Land Grabbers
Another common problem faced by the NRIs lies in the fact that their properties are often illegally possessed by people, illegally.
We advise you to draft a legal document and sign the same to legally banish land grabbers from your property. In case you haven’t drafted such a document, we suggest that you make one with the help of police NRI cells working against land grabbing.
We at Wealth Clinic would like you to understand that you need to take a few steps in the proper direction, pertaining to your real estate investment. This would serve to secure your future and grab the benefits of your investment, without any hassle; while you are still living abroad. Wealth Clinic also ensures, the best of our services for our clients, especially the NRIs. For more information, please do not hesitate to contact us.