2017 Got Policy Changes To Attract NRIs To Realty Market In India

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Home ? Blogs ? 2017 got policy changes to
attract NRIs to realty market in India 2017
Got Policy Changes To Attract NRIs To Realty
Market In India In Property Trends
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The Indian real estate market has always been
pretty attractive for the non-resident Indians.
The only concern has been that with the opaque
nature of the business, with lack of scienti?c
and information process of due diligence. With
some of the prime policy changes in the year
2016, however, like the Real Estate Regulation
Act or RERA, goods, and services tax,
demonetization and the Benami Transaction Act,
the question now is that whether NRIs can be
con?dent in making the investment
decision. Indian realty sector witnessing a
gradual transformation Experts agree that the
Indian realty sector faces huge trust de?cit
issues which owns to the absence of the
effective regulator such as in other sectors
(IRDAI, SEBI, TRAI, etc.) the lack of organized
funds for the projects, politicians nexus between
developers and bureaucrats, poor rate of the
disposal court cases and lack of title insurance.
All these factors keep the business homes away
from this particular sector and industry was
actually characterized by numerous unscrupulous
elements. Things have started, however, to change
it slowly. RERA and the easing of the funds in
form of ECBs, REIT and FDI have attracted the
attention of some of the reputed business homes
and the customers alike. Also, the real estate
sector of India has matured to the point where
the non-resident Indians can invest in a wider
variety of products, mid-range, across affordable
and luxury segments. With greater transparency,
tighter regulations, enhanced price stability and
more affordability, non-resident Indians will
?nd the interesting investment chances, as long
as these have a longer-term view and
discriminating about the project to invest in.
India is a bigger market with more than 1.2
billion people as well as an emerging economy on
the international front. Policy changes that
bring greater transparency for NRI
investors People believe that the bold steps such
as demonetization will de?nitely increase
transparency in the realty sector and curb out
the unaccounted cash transactions. Greater
transparency will improvise the element of trust
in the real estate market in India and this will
make the non-resident Indians more con?dent about
investing. It is being pointed out that the real
estate sector is the second-largest sector in
India. To ease the processes of property
purchasing, various rules and regulations have
been amended. The factors such as FDI in the
real estate sector, relaxation of the laws by
Reserve Bank of India (RBI) concerning property
buying by non-resident Indians and lenient
policies in relation to the Foreign Exchange
Management Act (FEMA) which have accelerated
investments. The availability of the affordable
properties also attracts a huge number of modern
NRI buyers.
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