In the current era, everyone has observed a significant expansion in the real estate market across India. As time passed by, NRIs have always been investing in luxury homes located in bustling cities. Apart from being a safe and long term investment, real estate investment in India can further offer a steady growth. Investing in real estate can not only help to diversify but also help to grow financial assets. Even when the NRI doesn’t have any plan to settle in India after retirement, such an investment can serve as a contingency whenever unpredicted circumstances arise. Mr. Rohan Monteiro, who has been the founder of Rohan Corporation, then perceived this vision of luxury living for the NRIs and worked towards building the Rohan City residential and commercial properties in Bejai, Mangalore project. To commemorate an accomplishment, Rohan Corporation India Pvt. Ltd. was honored with the ‘Emerging Project of The Year Award’ in March 2023.
Why have people observed an increase in demand for luxury homes among the NRIs?
As NRIs explore many investment options to secure their life, they have always perceived the purchase of a luxury home as a great investment option. After considering an investment in the Indian real estate industry, the investment offers a higher rate of appreciation along with a stable rental income in the long run.
If you go through the trends prevalent in Mangalore, then the rental yield has risen significantly in the past 5 years. While the rental yield has gone up to 34.1% in main regions of Mangalore, people saw a hike in the rental yield of 8.5% in a southern region of city. This means that the NRIs and many individuals across India should consider real estate investment in India as one of the best investment options.
What are the main benefits of property investment in India for the NRIs?
Just like it’s with any citizen of India, the NRIs can claim tax benefits stated under Section 80 C of the Income Tax Act, 1961.
If the NRI states that he will be using the property for his own purpose after the purchase, then he will not have to bear the taxes.
Once the NRI purchases a residence at the price of Rs. 50 lakhs, then he is allowed to withhold the tax at 1% of the purchase valuation. However, if the owner of the property is an NRI, then the Non Residential Indian investor can withhold tax as much as 20% of the long-term capital gain. But, he can withhold tax equivalent to 30% of the short term capital gain.
The Double Taxation Avoidance Agreement also makes the scenario favorable for NRI investments in India. With such a kind of agreement in place, the NRI can claim tax credit in a totally different country where he is presently staying. At those instances, he may either be maintaining a standard of living with the incurred taxes or the capital gains concerned with the property in India.
According to the survey, in the last two years, dollar rates have increased by 15% to 17%. Due to a better dollar exchange rate. Best time for USA clients to book a property in Mangalore.
Finally, NRIs have always considered Indian real estate in India as a lucrative investment option when they get in touch with real estate companies in India. Besides, the time has always been appropriate for the NRIs to invest in regions across Mangalore. If the property is situated in a good location, and growing infrastructure has also led to an increase in property prices, making Bejai a location that offers good returns on investment. Rohan Corporation identified the increase in demand for residential and commercial properties in Bejai, Mangalore that’s when the rents are bound to increase every year. But, if it’s quite tough to get through the investment process and seek the right set of assets, then they should approach someone who can simplify everything. Apart from everything else, NRIs have never hesitated to invest in luxury apartments and commercial properties in Mangalore. The properties under Rohan Corporation projects are known for utmost comfort and quality living. We have already offered several NRI families and businesses their place of choice, in our ongoing projects like Rohan City and Rohan Square (residential and commercial space), City Square (magnificent complex), Zorion Apartments (residential complex), Rohan Estate (residential estate), and High Crest (residential building). We would love to have you as our next precious customer. So, if you are dreaming of having a commercial or residential property in Mangalore at convenience and affordable pricing, then feel free to get in touch with us, Rohan Corporation.