NRI Section

Why choose Surat

Choosing which city to invest in property becomes a though decision to make by NRI's. A lot of factors have to be looked at. Some of the points are discussed below, telling you why Surat would be the perfect destination to live in and to invest your money.

1.The major reason for choosing Surat would be of the investment opportunity here. The returns from real estate are high as it is a growing city.

2. Surat is ranked first among the top 10 cities for earning, investing and residing. Surat has been ranked as the top destination for those seeking employment and doing business. It is a great place to start a new business.

3. Surat is a booming industrial center for textiles, Jari, brocades and is a very important diamond processing centre. Surat has a great export market. Surat is situated on the banks of the Tapi and was one of the greatest Indian Ports during the Mughal regime.

4. Surat has the advantage of being around 300km. from Bombay International Airport. Bombay and Surat are well connected by a busy rail line or road transport. NRI's would be having frequent visitors from abroad so, a home close to Bombay International Airport is then desired.

5. After staying in foreign for a couple of years, NRI's get used to living in a clean environment. Surat is one of the cleanest cities in India.

6. Surat has the most number of flyovers in Gujarat and is also know for its wide roads. It gets easy to move from one place to another as the traffic is well maintained.

7. Surat is rich in culture. Yearly, a large number of traditional and cultural events take place in Surat. All festival are celebrated with great charm and respect. NRI's would love the cultural aspect Surat has to offer.

8. One can never get bored in such a place because of the places to visit in and around Surat. There are great places to go to near Surat for a weekend. There are multiplexes and a number of cinemas located in Surat.

9. Surat has a great climate throughout the year. It never gets too cold or too hot in Surat.

 

Legal Aspects

It is legal for NRI's to invest in India. The Indian government has allowed 100% repatriation for NRIs. The Reserve Bank has granted a blanket permission to NRIs to purchase immovable property in India for their residential and commercial purposes. There is also no limit on the number of investments or the quantity of investments that can be made in real estate. However, the amount should not be more than the foreign exchange in to hold the property. The property can be purchased from any place outside India or through funds maintained in NRI accounts in the banks within the country.

There are some rules regarding the SALE of property purchased by an NRI. NRI is allowed to sell property only after three years from the date of acquisition for the property or from the date of payment of the final installment of the consideration for its acquisition, whichever is later.

For more details on the purchase or sell of property by NRI's it would be best if you seek legal professional help.