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BIG REASONS
TO BUY
India’s real estate is changing little by little every day, and plentiful avenues for investment have emerged like never. Global markets experience appreciation in Real Estate, because of which India comes under the spot light as an attractive investment destination. Non-Resident Indians (NRIs) looking to establish a re-connect with their homeland, have numerous options to choose from. Grand Magnum brings you Premium Plots from across Chennai, with bright opportunities to invest in your dream home.
Booming property market
with growth across India
Great appreciation values
for higher returns
Tax benefits
with long-term gains
Variety of investment
opportunities across cities
Flexible home loan options
available
Versatile down payment options compared to other forms of investment.
FREQUENTLY ASKED QUESTIONS
Compiled for NRI's investing in India
An NRI is any citizen of India who is not residing in India and has resided in India for less than 182 days in the preceding financial year. NRIs have professional or other commitments which require them to live outside India for an indefinite period of time. However, NRIs still have opportunities to buy real estate in India.
A PIO is any citizen not of Pakistan or Bangladesh who has:
» At any time held an Indian passport
» Parents or grandparents who are citizens of India according to the Indian Constitution
» A spouse who is an Indian citizen or PIO (for the purpose of bank deposits)
A PIO can also buy real estate in India, and invest in Indian properties
An OCI is a person who is a citizen of another country, but also:
» Held an Indian citizenship at some point
» Was eligible for an Indian citizenship at the time of the commencement of the Indian Constitution
» Belongs to a territory that became part of India after Independence
With NRI investment in India growing at a large rate, an OCI can also buy real estate in India.
According to guidelines laid down by the RBI, the following can purchase property in India:
» A Non-Resident Indian (NRI)
» A PIO
» An OCI
All three categories are generally referred to as NRIs for the purpose of opening bank accounts, for bank deposits, for purchasing property, etc. NRI investment in India shows great potential, and any of the aforementioned can buy real estate in India.
While presenting documents to buy real estate in India, NRIs fall under two categories: salaried individuals and self-employed individuals