India's growth accelerates its progress, its real estate gains value too. The evolving economy of the country is leading to a favorable real estate market. That's why property in India, especially, property in Mumbai, is attracting global investors. If you're an NRI, now is the best time for you make an investment in property in India. Here are the top advantages of your investment:
1. Tax benefits: NRIs can invest in property in India and still save on tax. An NRI is entitled to tax exemption and can avail loans from Indian banks to buy property in India. Moreover, if a property is sold within two years of its purchase, an NRI is exempted from capital gain on the profit.
2. Rent Income: The demand for property in cities like Mumbai, Pune, Bangalore, Delhi, and Chennai is high as more people are migrating to metropolitan cities for employment. As a result, the need for apartments in Mumbai and other metros is high. Therefore, buying a flat in Mumbai and then renting it out serves as an additional income for an NRI.
3. A tie to the homeland: For those NRIs who hope to return to their country in the future, an investment in property will mean that they will always have a place back home waiting for them. This apartment or villa can serve as their vacation home. It can even be their retirement home in their homeland.
4. ROI: Given the property market in India is developing with property rates jumping each year, an investment in Indian property will have a high return on investment and appreciation value.
Looking to make an investment in your homeland? Check out properties by Hiranandani Communities, India's most trusted brand when it comes to real estate. From flats in Mumbai, apartments in Panvel and Navi Mumbai to luxurious villa plots in Alibaug and Khandala, Hiranandani Communities is the gold standard of luxurious living.