Client queries are clearly answered by Shwas Homes Pvt Ltd. Generally NRI’s have doubts regarding sale and purchase of immovable properties like land or house in India. This builder corporate is here to eliminate those doubts and lend the best investment opportunity. It is not like other unscrupulous builders, Shwas Homes believes in client satisfaction and work hard to deliver the best return on investment for their clients. The company continuously assesses the current market environment and incorporates changes that would benefit the ultimate buyer.
A common question for which Shwas has the perfect answer is whether the NRI’s can buy immovable property in India.
According to the law of India, Shwas Homes says acquisition of immovable property is possible for NRI’s holding Indian passport:
• Non-Resident Indians holding Indian passport do not require prior permission of Reserve Bank of India to buy residential or commercial immovable property in India.
• The purchase consideration may be paid either by remittance of funds from abroad through normal banking channels or out of NRE/NRO/FCNR account.
• Non-Resident of Indian nationality does not require any permission for acquisition, transfer or disposal by way of gift of immovable property which is not a farmhouse or agricultural land or plantation property. Declaration on form IPI-7 for acquisition of commercial property for carrying on any industrial, commercial or trading activity by their property/partnership firm in India is required to be filed with RBI within 90 days from the date of purchase.
Thus, with minimum formalities and legal issues, NRI’s can buy a Shwas Homes property in India.