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NRI

Now is the time to Invest With Adore

Being a smart investor, you always seek the best time to make the best deals. The rupee has touched an all-time low, very recently, making investment in India a win-win situation for you. Make your opportunity even more fruitful, investing in to Adore varied range of unmatched residential and commercial spaces. Because, in this ever dynamic and competitive world, there’s no better time to invest in Indian real estate than the present.

Adore is committed to providing safe investment opportunities for the NRI community and ensuring they stay connected to the homeland.

Leveraging the Boom in Real Estate

The Indian real estate sector has witnessed a revolution, driven by the booming economy, favourable demographics and liberalised foreign direct investment (FDI) regime. It has emerged as one of the most appealing investment areas for domestic as well as foreign investors. As incomes grow, and retail makes inroads, shopping malls and multiplexes, luxury and budget hotels, resorts and serviced apartments, residential townships and condominiums, IT Parks and Special Economic Zones are not the exclusive preserve of Tier I cities like Delhi, Mumbai, Bangalore, Hyderabad and Chennai anymore.

Inviting Global Attention

As the Indian Government allowed the foreign direct investment in real estate, host of investors have shown confidence in the enormous potential of the real estate market in India. The global real-estate consulting group Knight Frank has ranked India 5th in the list of 30 emerging retail markets. Supported by infrastructure development, contemporary architecture and state-of-the art facilities in aesthetically designed environs, India's real estate has much to offer to the NRIs.

NRI Investment in Real Estate

All persons residing outside India holding Indian passports and also people of Indian origin have been granted permission by the Reserve Bank of India (RBI) to invest in both residential and commercial properties in India. To an NRI, a base in the homeland also brings with it a sense of security. The number of NRIs who are investing in property for sentimental reasons and for better investment returns is quickly multiplying. The NRI investor can raise finances from financial institutions to purchase a property. Banks and other financial institutions in India are facilitating the NRI investment in property quickly and efficiently.

Future Ahead With the economy surging ahead, the demand for all segments of the real estate sector is likely to continue to grow. The Indian real estate industry is likely to grow from US$ 12 billion in 2005 to US$ 90 billion in by 2015. Given the boom in residential housing, IT, ITeS, organised retail and hospitality industries, this industry is likely to see increased investment activity. Foreign direct investment alone might see a close to six-fold jump to US$ 30 billion over the next 10 years. And that makes India a haven for NRI investments (source: indiaground.com).

NRIs FAQ

At Adore, we pride ourselves on providing the NRI community a variety of safe investment opportunities in real estate. It is our aim to offer a variety of excellent investment options to the global Indian diaspora and be a partner of choice for NRIs looking to acquire property back home.

Listed below are general guidelines to assist NRIs and PIOs who are looking to invest in real estate in India. For more specific queries please feel free to contact us via e-mail on care@adorerealtech.com or call us on +91-129-

General Guidelines for NRIs and PIOs for Purchasing Property in India

Types Residential Purpose Commercial Purpose Funds for Investment in Property Letting out of Property Proceeds Repatriable/Non Repatriable
Non Resident Indian No RBI Approval required No RBI Approval required a) Direct remittance NRO/NRE A/C b) Loans against NRE/FCNR Deposits for Residential House only b) Loans against NRE/FCNR Deposits for Residential House only No RBI approval required Repatriation of Sale Proceeds equivalent to the Original Investment is permitted for a maximum of two houses as well as Commercial Property after 3 years of acquisition (i.e. possession) or payment of last installment, whichever is later, provided the investment is out of direct remittance or NRE/FCNR account. Form IPI - 8 is to be submitted to RBI within 90 days of sale of the property.
Foreign citizen of No prior RBI approval, only No RBI approval a) Out of NRE/FCNR No RBI approval Repatriation of Sale Proceeds equivalent to
Indian origin intimation to RBI in Form IPI - 7 within 90 days of purchase (Press Release dated 8/1/1992). required Intimation to RBI in Form IPI - 7 within 90 days of purchase (08/06/93 Circular). A/C or Foreign remittance b) Loans against NRE/ FCNR Deposits for Residential House only c) With prior approval of RBI from NRO Account required the Original Investment is permitted for a maximum of two houses as well as Commercial Property after 3 years of acquisition (i.e. possession) or payment of last installment, whichever is later, provided the investment is out of direct remittance or NRE/FCNR account. Form IPI - 8 is to be submitted to RBI within 90 days of sale of the property.
Non Citizens of Foreign Origin i.e. Foreigners RBI approval required (Circular dated 23/3/1992) RBI approval required Direct remittance RBI approval required (Circular dated 23/3/1992) Non Repatriable
OCB
a) Controlled by NRI 60% b) Others a) RBI approval required b) RBI approval required a) RBI approval required b) RBI approval required a) Direct remittance b) Direct remittance a) No RBI approval required b) No RBI approval required a) Non Repatriable b) Non Repatriable
FERA Companies No RBI approval required (FERA 104/92-RB Dated 29/1/92) No RBI approval required Direct remittance No RBI approval (Circular Dated 23/3/1992) Non Repatriable