Given below are the main points to be well thought-out before investing in Indian real Estate sector.
Home loan is approved to the NRIs for any of the following housing finance schemes:
Home loan offered to NRIs generally does not over 15 years. The repayment for the finance is by EMIs. The EMIs begin only after the entire loan is paid. In case of a part payment, you pay plain interest at the rate applicable on the loan amount that is paid to you.
The loan against the home has to be paid for the total tenure of the loan through transfers of funds from overseas through usual banking channels or from such accounts as may be acceptable by RBI from time to time.
Tax benefits are available if they file returns and in that way become eligible to benefit the tax benefits as mentioned under Home Loans.
NRIs are required to present extra documents than is generally required for a resident Indian.