Impact of RERA on NRIs investing in property market in India

1
Diese Website verwendet Cookies von Google, um
ihre Dienste bereitzustellen, Anzeigen zu
personalisieren und Zugriffe zu analysieren.
Informationen daruber, wie du die Website
verwendest, werden an Google weitergegeben. Durch
die Nutzung dieser Website erklarst du dich damit
einverstanden, dass sie Cookies verwendet.
WEITERE INFORMATIONEN OK
Wednesday, 15 November 2017
About Me
Coldwell Banker G Follow 0 View my complete
profile
Impact of RERA on NRIs investing in property
market in India
Indian property market has been always pretty
attractive for the Non-resident Indians who are
interested to have roots in their home country.
Some reasons for the nonresident Indians
investments could be different right from the
upgrading the family home by offering a better
lifestyle to the parents by having signature
property to come back to. To address the present
spate of the reforms would have some positive
impact on the non-resident Indians, its vital to
understand what basically concerns the NRIs while
investing in India. Till now, the common concern
of NRIs are investing for real estate has
certainly been to opaque nature of the business,
no concept of standardized due diligence, lack of
information, completion of projects tedious,
untimely delivery and o legal recourse for the
buyers. Specifically for the non-resident
Indians, the cumbersome nature of the follow-ups
with developers where the projects were not
finished was huge demotivation to invest in
property in their home country. Now, the question
is whether non-resident Indians can be more
confident in making any investment decision with
the policy changes like GST and RERA attract the
NRIs for investment in real estate companies. The
government has hugely addressed most of the
concerns mentioned above by some of the prime
policy changes that were introduced in 2016, such
as the Goods and Services Tax (GST) and Real
Estate Regulations Act (RERA) and the Benami
2
Transaction Act.
Real Estate Regulations Act 2016 or RERA will
make sure the regulations in this hugely
unregulated market. The property buying will be
more protected as well as greater transparency in
the sector will also be visible. RERA will
certainly put accountability on developers in
terms of the timely development of the project,
financial disclosure, and maintain some good
corporate governance practices. GST is the
single-biggest tax reforms that are introduced in
India. It aims at removing the differences in the
indirect taxes that are applicable across several
states. The realty sector stands to benefit the
fact that GST would actually provide much more
clarity on the tax credits for re transactions as
well as the allowances of input credit that would
reduce the property price. Benami Transactions
(Prohibition) Act certainly provides an effective
regime for the prohibition of the Benami
transactions. The revised law empowers specified
authorities to attach provisionally Benami
Properties which can actually be confiscated.
Also, if any person id found guilty of any
offence of the Benami transaction by contempt of
court, he/she shall be punishable with severe
imprisonment for a term which will not be less
than a year but which may extend to seven years
along with being liable to a fine which may
extend as much as the 25 of the fair market
value of the property. Introduction of Real
Estate Investment Trust will have a great
positive impact on Real estate sector. The Real
Estate Investment Trust has opened up a platform
that will let all kinds of investors when those
with the lesser budgets to make safe as well as
rewarding investments into the Indian real estate
market. For the non-resident Indians, investment
sentiment is hugely boosted by RERA, Benami Act,
Real estate investment trust, GST and some
government initiatives such as demonetization.
All these measures have definitely boosted
transparency as well as the amended rules and
regulations which have hugely simplified the
process of purchase. The lenient FEMA policies,
as well as the relaxation of the law by Reserve
Bank of India regarding buying property by NRIs,
have resurrected the Non-resident Indians
interest in the purchase of the property.
Posted by Coldwell Banker at 2322 M0 tB
G Labels best investment options in india, best
investment plan in india, best investment plans
for nri in india, investment opportunities in
india for nri, nri investment in real estate
companies
No comments Post a Comment
Enter your comment..
Comment as Select profile..
Preview
Home
Subscribe to Post Comments (Atom)
Simple theme. Powered by Blogger.