Sitting thousands of miles away from your homeland, it is very understandable that the pull of the love of land makes your eyes wet. The emotional connect with the soil is so high that one often wants to stick to the roots. And buying property is considered by many to be the best way to be connected with their motherland. No wonder non resident Indians are investing in land and buying homes across India these days. Since they are sitting far-far away, the need for a helping is all the more required to understand the market and invest wisely with all the paper work in place.
With the dollar fetching quite a handful of money against the Indian rupee, and the returns in the past which the realty sector has shown, have attracted the NRI’s not just for buying family homes, but also for investing their extra money in this lucrative field. The returns from real estate in India have been among the highest the world over. This has attracted one and sundry to invest here.
Tips for NRIs
But sitting at a distance and paying for the real estate in a different country is quite a difficult proposition for these NRI’s. Without any knowledge about where to invest and how to go about it with payments and all the paper work, it is no wonder why hiring real estate agents is must for NRI’s. Atleast that is what they think. The normal notion which a person has sitting outside our country is that here everything works with connections. So a need for a real estate agent who knows the inside out of the system is all the more important.
Real estate agents: compulsion or unnecessary expense?
It is true that the real estate agents do come in handy by providing their expertise, but instances of frauds committed by some of these agents against the innocent NRI’s sitting miles away, are no less. Seeing the potential of these high ticket customers, the builders have started paying special attention to them. Real estate exhibitions and shows are being organized by CREDAI (the governing body of these builders) and by some private payers too, in countries like England, America, Canada and Dubai where there is a concentration of Indian population. These shows give a first hand knowledge and expertise about where and when to invest with seminars on investing opportunities being organized alongside. The NRI’s get a clean and secure deal with genuine prices being offered to them and all the necessary paper work being taken care of.
Role of online real estate portals: Another angle from which these NRI investors benefit are the online real estate portals. These portals are a hub of real estate activity these days and are equally popular and beneficial in the country as outside it. The first reason being, the amazing amount of data provided on these portals. Every builder or developer places an advertisement about his product first hand on these portals. This avoids the middle men hence avoiding the malpractices which might take place. Secondly many of these good real estate portals provide free advice to their customers online, through industry experts which are roped in from time to time. These experts give true and genuine advice as they are not in personal touch with the seller or buyer and their advice is genuine and unbiased. They don’t promote any particular property and would give only genuine suggestions on where and when to invest.
The real estate industry has understood the importance of these NRI investors and hence makes an all out effort to woo them. Some builders are also providing them with personalized service and expert advice and taking care of their money transfers and property documents.