In a market where tenants have the leeway to bargain, property owners need to go the extra mile to attract tenants at good rentals. This helps them to let out their property faster while also justifying higher rental asks.
Category: Real Estate Tips
At this point, does it make more sense to buy or rent a home? There are arguments for and against either option in the post-COVID-19 landscape.
Historically, the major demand driver for NRIs investing in Indian real estate was their eventual inevitable return to India. The general sentiment of a post-COVID-19 reverse exodus to India has thrown this driver into sharper relief.
Land is the basis of all economic activity in any country, and a sound land policy - updated to current requirements - is imperative for developing nations like India
The demand for student housing has never been higher with Government measures drawing lakhs of students to Indian college campuses for higher studies.
Coliving, coworking and student housing have 7-11% higher rental yield than 3% national residential average, according to a CII-ANAROCK report.
ANAROCK data indicates that of a total 1,816 residential projects launched across the top 7 cities in 2019, over 52% were high-rises.
The top 7 cities may see nearly 2.75 lakh new ready-to-move (RTM) homes over the next one year, provided developers stay on schedule.
Haveli properties have become the new ‘must-haves’ of the ultra-rich who sense an opportunity to secure a remarkable piece of Indian history.
Shajai Jacob, CEO – GCC (Middle East) – ANAROCK Property Consultants
Just like resident Indians, NRIs can invest in any number of properties in India and are also eligible to avail of home loans for as many properties as they like.
Of course, while there is no cap on the number of properties for which an NRI can take home loans for, repayment capacity must always be factored in.
Over-leveraging is never a good idea and regardless of what viewpoint a bank takes, NRIs must do their own repayment capacity calculations.
In India, most banks and non-banking financial institutions offer home loans to NRIs. However, the tenure of the home loan may vary, and the rate of interest is usually higher for NRIs.
Loan Tenure and Rate of Interest
An NRI usually has to pay a higher rate of interest than resident Indians. The tenure for a home loan to an NRI usually ranges between 5 to 20 years – only in select cases can it go up to 30 years for salaried professionals.
Most banks determine the loan amount eligibility of NRI borrowers based on their income and credit history.