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Can an NRI buy property in India?

Yes, Non-Resident Indians (NRIs) can purchase immovable assets in India without requiring special permissions from the Reserve Bank of India (RBI), according to FEMA (Foreign Exchange Management Act) regulations. Here are a few guidelines to follow:

There are certain do’s and don’ts for NRIs investing in Indian realty. NRIs are only allowed to purchase residential and commercial properties in India. An NRI buying agricultural land in India, as well as farmhouses and plantations, are restricted as they don’t fall into those two categories. If an NRI buying property in India still wants to invest in one of these forms of real estate, they can submit a special request for the same to the RBI. Such instances are reviewed on a case-by-case basis by the RBI, taking into account the circumstances around the particular request. Under special circumstances.

All The Benefits Of Buying vs Renting A Home

Benefits of owning a home vs renting

Buying a home:-

1. No hassles of paying rent or dealing with landlords

One of the first and primary benefits of owning a home vs renting is that you don’t have to deal with the monthly hassle of paying rent to your landlord. Keeping these monthly payments aside, you don’t even have to deal with the number of restrictions, rules & regulations to be followed in a rented villa, as it’s your rule in your home!

2. No uncertainty regarding your housing situation

As a renter, it’s important to keep your agreements and lease in check to ensure that your housing or living situation is secure. Buying a home once and for all secures your living arrangement and security while keeping you, your family, and fellow loved ones in mind! Not to mention, it’s a great investment for the future.

3. Appreciates as a valuable asset

This one-time investment in buying a home has multifaceted benefits in your life. Once you own a property or buy a home, it is considered a highly valuable asset that only gains a higher value in the future. Whether you want to secure this property for your retirement years, or simply re-sell it for a bigger gain, you are guaranteed a juicy payoff on a house owned by you.

Renting a home:-

1. Flexible arrangement

The best part of renting a home vs buying a property is that you have the option to change your mind! By renting a villa, condo, or even a flat, you are only bound to the unit for a limited time as per your lease and can choose to move to a better house, city, or even country once that lease expires! Whether you have a change of heart or want to chase new dreams, you won’t be bound to a property in one location when renting a home!

2. No worries about fixes and repairs

As a tenant, you never have to worry about facing any issues with the plumbing, wiring, or even the paint job in your rental home! It is always the responsibility of the homeowner or landlord to take care of these problems and resolve them as soon as possible. This way, you can avoid spending any extra money out of your own pocket – which you would definitely have to do if you were the homeowner!

3. Property Tax-Free

By renting a home, you can avoid having to pay a hefty property tax, which depending on the state’s tax policy, can be a large amount of money that a homeowner has to pay at the time of purchase. In the long run, you will end up saving more money!

In conclusion, the buying vs renting a home debate has equally strong points but they entirely depend on your priorities, needs, and preferences. However, it is always a huge benefit to own property as it is a major asset that contributes to securing your life. If you’re looking to buy a property or house in Coimbatore, Aarudhras developers have the most affordable property options, including a gated community residential Villa in Coimbatore for you! Whether you want 1, 2, 3, bhk, or residential plots in the key localities of Coimbatore, find the best-budgeted deals exclusively at Aarudhras developers!