NRI Property Ownership Journey from the UK to India

NRI Property Ownership: Government of India (GOI) has passed various laws and regulations in favor of NRIs to buy, sell any number of properties across various cities in India. NRI’s can acquire any type of immovable property in India. Which is either residential or commercial in nature. But cannot acquire any agricultural, plantation property or farmhouse in India. In case of these, RBI needs to intervene in it.

Foreign exchange management act

FEMA act is there for NRIs who want to invest in India or for POI & even for those foreign people. Who are residing in India for a very long time.

There are various legal intricacies involved which need to be addressed in order to conduct any real estate transactions in India and UK for NRIs.

Legal systems of the UK and India are very much similar for NRIs. Who need to make investment decisions in London. The heart of the United Kingdom and Mumbai being the financial capital of India. It has been seen that Indians are investing more in foreign land as compared to English of that country. They make investment decisions in those countries. Which will yield higher rates of returns and maximize their profits for lifelong benefits. The real estate market and legal framework of India and UK works best in case of NRI. As there are good exchange rates and financial stability and the market is much more ‘safer’ as compared to other countries like UAE or U.S.

Real estate agents

They can be there at your service 24/7. To make it very easy and simple for you to conclude any type of real estate transactions. As it requires thorough knowledge of all the legal framework and real estate market to conduct any operation in India or UK. They can manage all your paperwork and can chalk the list of where to invest, how to invest, how much to invest and in which type of property to diversify the risk you being carefree. Which will yield higher returns after perfect time.

Tax benefits

Tax benefits can be availed by NRIs or POI if they wish to buy, sell any property in India.

NRIs need to conduct research on tax slabs. Which are present there at that time to avail full benefits. If NRI’s wish to sell property in India. Then they need to know capital gains which would be incurred after selling of property. If the property is held for less than 2 years then short term capital gains (STCG) would be 30% and if property is held for more than 2 years long term capital gains (LTCG) would be 20%. 

Thus, we can say that NRIs’ property ownership in India and UK are very much similar as there is FEMA ACT which is applicable for NRIs and can conduct any real estate service with the help and support of NRI property consultants within the legal systems of both the countries India and UK.

Investment opportunities for NRIs in the Indian real estate market