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Tips for NRIs to Invest in Residential Projects in Gurgaon

Over the last five years, property prices in India have touched the pinnacles significantly. Nevertheless, for the Non Resident Indians, slight increment owing to the reduction of the rupee against the dollar has played the major role. And this has made investments in India’s real estate sector extremely lucrative for them. Also, as the Union Cabinet has approved the real estate regulation and development bill, the investment in property is becoming more and more transparent as well as better in respect to consumer interest.

NRIs investment

While planning for investing in residential projects in Gurgaon, every NRI needs to go for ground checks. First-of-all, check the nature of the property as according to the guidelines of the Reserve Bank of India, an overseas investor can’t purchase any farm land or agricultural land in India. Secondly, check all the legal documents prior buying the land. In the past, it has been witnessed that NRIs have invested on agricultural land for residential projects without any approval from the government of India. In this case, contracts have been cancelled. Therefore, the best possible way can be investing in new residential projects. Gurgaon is flourishing with different residential projects, where investing is quite profitable.

Below are some important points to keep in consideration before investing in any residential project.

Checking the legal papers: First of all, it is very important to check all the papers, such as all the clearances by law, clean papers from environment and municipal sectors and others. In case of under construction projects, ensure the safe investment with these documents. Also, advisable is the use of the lawyer services to approve the claims as this will cover all the legal aspects.

The purchase documents: A sale agreement is drawn for Rs. 50 stamp paper with the mention of the advance payment, final amount, and time limit to pay the due amount with the complete details of installments.

Taxation matters: Besides registration cost and stamp duty, service tax is charged on the transaction, but it depends on the nature of the property. In case, you are planning to invest in the property constructed by a builder, service tax of 12.36% on 25% on the total price needs to be paid.

One of the preferred investing destinations for NRIs are the plots by Vatika in Sector 82, which are free from all the legal hassles.

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What to Keep in Mind While Opting for a Residential Apartment in Gurgaon

Gurgaon has become one of the hottest destination for investors and various builders are coming up with projects in Gurgaon that offer a luxurious yet comfortable lifestyle. If you are willing to invest in the millennium city, opting for a residential apartment in Gurgaon is certainly a great choice. Investment is a wise choice but at the same time risky too, thus, one must always consider a few factors before taking the final decision. Let us make your work a little easy. Here are a few things that you must consider while opting for an apartment.

residential apartments gurgaonSize of the apartment: Your house must be large enough to accommodate all your family members. This should be kept in mind while looking for an apartment. Make sure that the rooms are spacious and comfortable. Also, there is no use of choosing a home that is too big for you. Choosing a bigger house will only increase your work of maintenance.

Choose a comfortable floor: The location of the floor should be considered. Societies have various floors and some of them do not have elevators or lifts. The first thing that you must see is the location of the floor that you are willing to choose. You should be comfortable and at the same time you should check the availability of lifts or elevators.

Provision of basic amenities: Make sure that the apartment you choose offers you all the basic amenities that are required for a comfortable living. Facilities like 24 hours water supply, ample of parking space, power backup, swimming pool, kids playground, gymnasium, to name just a few should be provided to the residents.

Location: The society which you plan to choose must be easily accessible. It must have good connectivity with the transportation facilities, must be away from the hustle bustle of the city and grocery stores, schools, hospital and ATM should be at proximity. Last but not the lease, the location must be safe. There must an availability of a 24×7 guard and proper security measures must be provided to the residents.

Affordable: While investing in a property in Gurgaon, make sure you decide your budget well in advance and only then start looking for a property. Different areas in Gurgaon have different property rates, so make sure you choose a location according to the budget that you have already determined.x

By keeping the above mentioned points in mind, you can easily select a residential apartment of your choice in the millennium city.

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Investing in Pre-Launch Projects in Gurgaon

Gurgaon, the millennium city, is growing at an express speed. With respect to its proximity to national capital, people are choosing the city as their home. Moreover, the growth can not only be seen in infrastructure and development, but also the population of people living here. Today, you can see biggest of MNCs in the city, along with hotels, schools and education system. Besides these, commuting has become very easy for the people living here. The city is not only beneficial for living, but also if you are looking for investment. One of the highly profitable investment areas is investing in property as builders are coming up with various projects in Gurgaon.

Pre-Launch Projects in Gurgaon

Preferably choose either an upcoming projects or already on sale. There are various villas in Gurgaon for sale available in the city. Similarly, 2 to 5-bhk flats for sale in Gurgaon are available for purchase.

However, buyers who choose to invest on pre-launch projects are generally opportunistic investors and are usually ready to wait for a couple of years for the possession. Here’re some tips an investor should keep in mind while investing in a pre-launch projects:

Know your project: It is very essential to know about your project. See what type of project you are looking for investment as you can get ready to move flats in Gurgaon, villas, flats and more for the investment. Also, this will help you to decide on the investment amount.

Who is your builder: Check different builders bringing the project in the city. First-of-all make sure that the builder is credible and has many projects on its name. A reliable residential builder with a good reputation in market is usually a safer bet for investment.

Credibility of project: Make sure the builder has land with free and clear ownership, where the project is being built. Along with checking the agreement between builder and the land owner, also check land is non-government property and is legal. Moreover, see that project should have a commencement certificate in place.

Growth forecast: It is essential to know about the growth prospect of the area in which project is building for the better return. Check the neighbourhood for the developments like market and other important infrastructure.

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Affordable Housing in Gurgaon – An Ideal Real Estate Choice

There is an immense requirement of affordable housing in cities and the Indian housing department has found a solution to this problem by adopting the concept of affordable housing in NCR regions like Gurgaon, Noida, Ghaziabad and Faridabad. Affordable housing in Gurgaon and Noida come in the form of huge number of residential projects, which are coming up in these cities. After a long phase of global recession, there are many low-priced projects coming up in various parts of the country.

Housing in Gurgaon

We are going to talk about Gurgaon in particular as the city is now sprawling with affordable properties. Gurgaon perhaps has the biggest real estate market in the Delhi/NCR region, as there are housing projects flooding the entire city. Affordable housing comes in the form of low-cost apartments in Gurgaon, builder floors and other such housing projects. Where houses are generally very expensive, such affordable options would help people in making their dream of owning a house, come true. This is a profitable bargain for builders in Gurgaon, as they draw a large number of buyers from the low and moderate income groups. In such affordable housing projects, the land area is optimized to its maximum capacity. For example, two flats can be developed in an area meant for one. There is more profit for the builder, as more buyers can be entertained. Both the parties benefit in this arrangement as the buyer gains by getting a home at an economical rate and the builder gets a profitable deal by selling a number of flats on the same land.

Although property prices are soaring, this might be the easiest time to buy flats in Gurgaon. The reason for this is easy accessibility to loans through a large number of money lending institutions, banks and other financing companies. There is a huge increase in the number of buyers in real estate market, due to the feasibility of housing loans for the common man.

Gurgaon real estate has a lot to offer as the city is bordering the capital city and there is good connectivity to other cities as well. As it develops rapidly in all sectors, the appreciation in real estate has lured large number of investors. Large number of affordable projects in Gurgaon and easier access to loans, has given an enormous boost to the real estate market.