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TOP 5 PROPERTIES
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PROPERTIES IN GURGAON
Residential Property House/Villa, 490 Sq.Yrd., at Ansal Florence Marble in Sushant Lok 3, Gurgaon.
Residential Property Kothi, 9 BHK, 260 Sq.Yrd. at DLF Phase 1, Gurgaon, Haryana.
Residential Bungalow, 7000 Sq.Ft., 10 BHK, Near Hero Honda Chowk, Gurgaon.
Plot, Commercial Property 500 Sq.Yrd., at Sector 15, Part 2, Gurgaon, Haryana.
(Property) Factory in Gurgaon, 37000 Sq.Ft., Sector - 5, Manesar, Gurgaon, Haryana
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PROPERTIES IN NOIDA
Commercial Space, 3000 Sq.Ft. in BPTP at Sector -94, Noida.
Commercial Space, 3000 Sq.Ft. in BPTP at Sector-64, Good Location, Spacious.
Institutional Space for Sale 17 Acre, at Expressway Greater Noida, U.P.
Commercial, Plot 300 Sq.Mtr., at Sector 33, Noida, Uttar Pradesh.
Residential Kothi, 5 Bed Room, 112 Sq.Mtr., Sector 4, Noida, Uttar Pradesh.
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PROPERTIES IN DELHI
Office Space in South Delhi on First Floor for very good Dr./Adov./Archi.
Commercial Office Space, 3000 Sq.Ft., at South Delhi, New Delhi.
Plot, Residential 800 Sq.Yrd., at Anand Lok, South Delhi, New Delhi.
Residentail, 3 B/R, 1200 Sq.Yrd., at Dakhinayan Apartment, Dwarka, New Delhi
3 BHK, 900 Sq.Ft.,Residential DDA Flat at Dilshad Garden, East Delhi.
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| News & Events |
| Jul 03rd, 2010 |
| Circle Rates for Sale and Purchase Delhi |
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Hot Properties
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Independent Bungalow at New Palasia on rent/lease, 5000sq.ft., Indore, Madhya Pradesh.
Shop at Khan Market available on rent/lease,489sq.ft., Commercial corner shop, Central Delhi.
Shop at M block market available on rent/lease, 400 sq.ft.,Commercial shop on Ground floor, South Delhi.
Shop at Defence colony available on rent/lease, 200 sq.ft., Commercial shop on Ground floor, South Delhi.
Commercial Shop at Lajpat nagar Central Market available on rent/lease, 520 sq.ft., Ground floor, New Delhi.
Showroom at Rajouri Garden main market available on sale, 240 sq.yrd., west Delhi.
Hotel on Prithvi Raj road, Jaipur, Rajasthan, 12911 Sq.Yrd., available for sale.
Farm house space available on rent/lease, 1898 sq.ft., at Pushpanjali farms, Bijwasan, Delhi.
Shop at Green Park main market on rent/lease, 204 sq.ft., Commercial shop on Ground floor, South delhi.
Commercial Shop at main market available on rent/lease, 160 sq.ft., Ground floor, at Alaknanda, New Delhi
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| Haryana Commercial Real Estate |
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Commercial Building,1500 sq.ft. at Gurgaon, Sector- 14, available on lease/rent.
Commercial Building,1437 sq.ft. at Gurgaon, Sector-53, available on lease/ rent.
Agricultural Land, 115 Acre at Gurgaon, Sector-102 available for Sale.
Commercial Shop 1067 sqft, Sohna Road in Vipul World at Gurgaon, available for sale.
Comercial Space,30000 sqft at Gurgaon Sector-44, available on Lease/ rent.
Shop available in a mall for sale in an area of 609 sq.ft. at TDI Rodio Drive,Kundli
Shop for sale at Parsvnath Bhiwadi, City Centre Mall in an area of 662 sq.ft.
Factory, 42000 Sq.Ft. at IMT, Manesar available for sale.
Shopping Mall Space, 363 Sq.Ft. in DLF Mega Mall, DLF phase-1, Gurgaon for Rent/Lease.
Plot, 4000 Sq.Ft.,Commercial plot, available for sale at Udyog Vihar-4 Gurgaon.
Commercial shop,550+450 sqft at Sector- 31, Gurgaon available on Rent/Lease.
Shopping Complex Space, 400 Sq.Ft., Huda Complex, at Gurgaon Sector-40,available for Lease/Rent.
Institutional Space 30000 Sq.Ft. available on Lease/Rent at Sector-44, Gurgaon.
Office space available on rent in Unitech Signature Tower at South City-1, Gurgaon.
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| Question:
What type of properties NRI can buy? |
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| Answer: |
It is permissible to purchase property for individual residence and commercial property; however, business related activities are prohibited in residential housing. Purchasing of an agricultural land or a farmhouse is legally prohibited. |
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| Question:
Is there any upper limit of purchase?
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No. |
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| Question:
What should be the preferred payment mode? |
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In general, payment from abroad should be done through banking channels like NRO, NRE, and FCNR accounts. |
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| Question:
What is the limit of refund of the payment? |
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It is the principal investment that can be repatriated, but not for the profit. However, the fall of rupees adds some benefit. Suppose, you made an investment of $1,00,000 in a residential property worth of 31,00,000 INR. At the time of refund the rate of rupee came down to Rs 41 against one dollar. Now you may get back the investment worth $1,00,0000 although the equivalent value is now 41,00,000 INR. |
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| Question:
How to manage tax related formalities? |
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An NRI has to pay capital gains tax while reselling the property. |
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| Question:
Is there any RBI directive applicable while remitting the money? |
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Within 90 DAYS after the purchase, Form IPI-7 is to be submitted to RBI by the NRI. This is needed only if he or she plans for a repatriation at the later stage. Once the sale is complete, Form IPI-8 has to be submitted to RBI within 90 days for repatriation. |
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| Question:
Where the application needs to be placed? |
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The application must be submitted to
Chief General Manager
Exchange Control Department
Foreign Investment Division (III)
Reserve Bank of India
Central Office
Bombay 400 001
URL: rbi.org.in
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| Question:
Is there any tax liability for an NRI if he or she acquires any property in India? |
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The only acquisition of property will not demand any tax liability. However, if any income is generated out of the property (for example, rent/annual value in case it is not occupied by the owner and this is his or hers only residential property in the country), it will be under tax liability. Capital gain(s) either long or short term generated by resale or part thereof would attract taxes. |
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| Question:
Is it possible for an NRI to get an exemption on stamp duty while purchasing a property located in India? |
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No |
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| Question:
Is it mandatory to have the PAN while purchasing a property? |
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According to Rule no 114(a) of 1962 of Income Tax of 1962, every individual has to provide his/her PAN in all relevant documents for the sale of any immovable property worth more than Rs. 5,00,000 or more. But according to rule 114C, an NRI does not require to acquire or to produce PAN for any sale or purchase transaction related to immovable property. |
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| Question:
Is it possible for an NRI to repatriate the sale amount gained by disposing ancestral property? |
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No. |
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| Question:
Is it possible to repatriate a fund generated out of the sale transaction of a property purchased with local funds? |
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It is not possible. No |
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| Question:
Is it possible for an NRI to rent a property bought in India? |
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Yes. He or she can either opt for the repatriation of the income generating from the rent, or can deposit the amount in his NRO account. Otherwise, he can collect this fund through his or her bank or authorized dealer. This rental amount is subject to tax under the below mentioned rules of deduction:
Repairs and collection charges for collection and maintenance: 25% of the Net Annual Value total value (rent - municipal taxes) irrespective of actual expenses made on the property.
Premium for insurance: Insurance premium covering risk of damage or destruction would receive full tax deduction.
Ground Rent: This is applicable only for leasehold property. The accrual ground rent either paid or not. But the interest because of delay in payment of ground rent would not come under deduction.
Paid amount of interest on capital loan amount: It is allowed for deduction in accrual basis even if the interest in the last year not paid.
Revenue on land: Sum paid as land revenue or tax imposed by state government would receive tax deduction.
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| Question:
Is it possible to repatriate the purchase amount? |
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In general, it is not possible to refund, thief if it is been done from NRO accounts. It is possible where the payment is made with foreign currency and it , which is earned in abroad. The mode of refund is applicable in case of sale of up to two housing property and business related commercial property of any number. |
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| Question:
What are the finance documents required to be submitted by NRIs? |
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If a non-resident Indian wishes to purchase a house and opt for a housing loan, he/she has to submit two types of documents. The first set (type-1) of document is the property related papers. On request, the housing finance company will give you the list of the required documents.
The requirement of document varies depending on the purchase criteria such as the intention to buy a ready flat, or to buy a flat under construction stage, or a land that needs to be developed for building a home.
The second set (type-2) of documents is the proof of employment and permanent address for the validation of the NRI status. Here is a list of documents, which will be asked by any finance companies before sanctioning the loan:
• Copy of the employment contract. If, in any case, the contract is written in any language other than English, a translation of the contract in English needs to be attached, which is certified either by the embassy or by the employer.
• Pay slip. (The latest one or for last few months depending on the criteria)
• Photocopy of the employment contract or copy of the work permit.
• The photocopy of the service identity card that has been issued by the employer.
• Photocopy of valid visa.
• Bank statement including details like account type, account number, and the balance in the account as on date.
• For merchant navy employees, Continuous Discharge Certificates.
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