NRI Property Investment – Answer to All the Queries

NRI Property Investment is one of the most misunderstood topics. The reason for which can be attributed to it being perceived as a complex segment of real estate investment. The financial pre-requites of home buyers is the case of NRI’s is different, and all the queries related to it are answered in this post.

Here will be taking into consideration not only NRI but also OCI (Overseas Citizenship of India) and PIO (People of Indian Origin) property investment queries.

So, let’s get started –

Q1.  Is it mandatory for NRI’s to obtain prior permission from RBI (Reserve Bank of India) before acquiring any property (residential or commercial) in India?

Ans. Well, the answer here is NO, there is no need to obtain prior permission from RBI.

Q2. In it mandatory for PIO to get prior approval from RBI (Reserve Bank of India) before acquiring any immovable property for residential use?

Ans. There is NO need to get prior approval, as long as the property is acquired for residential purposes.

Q3.  Can PIO acquire commercial property in India?

Ans. Yes, PIO can purchase commercial properties other than plantation/agricultural/farmhouse property.

Q4.  Can the property acquired by NRIs/PIO be sold?

Ans. Yes, RBI has granted permission to sell such acquired properties. However, it should be remembered that if the property is sold to a foreign citizen of Indian origin, then funds paid should be paid out of NRE/FCNR accounts or remitted back to India.

Q5.  Are foreign citizen of Indian Origin allowed to acquire residential property by way of gift?

Ans. Yes, they can acquire such assets by way of gift, but the number of such gifts is restricted to two, from an Indian citizens or PIO, subject to compliance with Indian tax laws.

Q6.  Are foreign citizen of Indian Origin allowed to sell a residential property, by the way, gift?

Ans. Yes, they can sell such properties, by the way, gift, but the number of such gifts is restricted to two, subject to compliance with Indian tax laws.

Q7.  Are NRI’s permitted to acquire housing loans from financial institutions or dealers?

Ans. The government of India has granted permission to certain authorised dealers and financial instruction to give credit to NRIs for the acquisition of home/flat. Repayment of such loans shall not exceed a time frame of 15 years.

Q8.  Can NRI’s and PIO rent residential/ commercial properties?

Ans. Yes, Reserve Bank of India has granted permission to NRI & PIO to rent their property. The income so generated should be deposited in NER/NRO accounts.

Remember, the topic of NRI investment is significant and lengthy. Our future blogs will give enlighten you the topic further. Also, don’t forget to go through relevant guidelines for NRI property inverters.

Party on Mind! Tips to Host the Perfect House New Year Bash

There is nothing more fun than hosting a perfect full of fun house party. And when the party is all about to welcome New Year, it got to be perfect and well arranged. As no host wants to give his/her guest to have a first dull party experience of the year.

We have set aside some tips that will get your home party-ready –

1. Clean & Tidy

Get rid of all the dust, clean your home real nice as it will create an impression of your lifestyle on the guests. Apart from cleaning your party area, pay special attention to areas like the living room and bathroom.

2. Light up

Lighting in a very important party element, it helps set the right mood for the evening. And don’t worry you need not spend much, as making small changes and adding few elements can make a huge impact. Twinkling lights are cheap and easy to incorporate and deliver superb results. You can also stuff old, unused bottles with Mirchi lights and place then around.

3. Accessories

Add large cushions on the seating space for easing the seating comfort, use bright cushion covers, and toss a stylish throw on the sofa. To add aesthetic appeal, you can accessories you home with interesting artifacts, artwork, and lamps. One can incorporate plants into the décor they look great and add lots appeal to the area.

4. Menu and table decoration

Plan your menu and make all the necessary arrangements like cutlery well in advance. Try incorporating some unique presentation and creative garnishing. Also, a great menu deserves a great table, so take a note to add a stylish centerpiece. It be a candle stand, crystal décor piece or classic flower arrangement.

5. Entertainment is most

Don’t forget to have music, as it is one element that will keep your party lively and going for long. Remember to have a great playlist. Also, have games like Pictionary and Thambola, so that guest can interact and mingle. You can create a selfie corner with some props, allowing your guests to capture the fun moments.

Some more tips to host a perfect house party –

Stylish & comfortable seating space
Dress up your indoor plants in fairy lights
Ensure your home smells good; you can use scented candles, potpourri, fragment oils, etc.,
Keep trash cans, big and easily visible
Stick to theme, don’t over decorate
Keep fresh napkins, lotion, re-fill the soap dispenser and check on other essential toiletries.
Happy & Fun partying!

 

 

Quit these 5 Lazy Habits for a Cleaner Home

Who doesn’t like a clean, clutter-free room; not only does it look good but also invites positive energy into the home. But many times we get lazy and leave the day’s mess later to clear, and before we know it a week’s worth of stuff is looking at us asking for an immediate clean up. Also, it becomes tough to locate stuff when needed, if we don’t have the habit to place the things back in their right place after use. Such small practices, if corrected can make our lives much simpler and leave our house looking beautiful and tidy around the clock.

Below are mentioned seven bad housekeeping habits you should quit right away –

1.   Tossing everything inside the nearest drawer

Not matter how tidy we are, every once in a while, everyone of us toss miscellaneous stuff into the nearest drawer, in order make the place look neat. But this isn’t a good habit; instead, you can have a ‘junk drawer’ at home where you can keep the stuff for which you haven’t assigned a place or are not in the mood to go all the way around to keep it. But don’t clutter it; keep it organised, so that it’s easy to locate stuff as and when needed. One can make small pouches with name tags; also remember not to over-stuff.

2.   Not checking your letter at the time of arrive

On an average, every week at least five to eight letters are delivered in our mailbox. Most of the time they are kept on the most used table/desk of the house, with no one paying heed to them for days. If the situation remains unchecked, soon you’ll have a large pile of unchecked and difficult to manage letters. It can also lead to loss of important documents. Make it habit to open the mail as they arrive, keep the important one’s and throw the rest.

3.   Cooking & cleaning side by side

One bad habit that requires immediate correction is not cleaning the kitchen as you cook. Fresh spills and splashes are easy to clean than the ones that have dried out. Also, you might be too exhausted to clean after all the work.

4.   Hoarding old newspapers and magazines

Don’t pile old newspapers or magazines. If you find anything important, keep cut-outs rather than keeping the whole thing.

5.   Don’t delay your laundry & stop throwing clothes on the chair

Try to quit habits like putting off laundry until you are left with nothing to wear. Make it a habit of throwing your clothes for wash on a regular basis. Also, don’t make your chair a one-stop location to put your used clothes.  Make it a habit of placing back your clothes in the closet before you take a new piece out of the dresser.

Trimurty a Contributor in Low Carbon Emission Drive

It was in October 2015 when India pledged to reduce carbon emission by 33 to 35 percent by the year 2030. With the country setting specific targets, it becomes the sheer responsibility of each working sector to contribute its bit. Seeing its work nature support is even mandatory from the real estate sector , to achieve this targets. Indian Green Building Council, popularly known as IGBC plays an important role is assuring that India soon becomes one of the global leaders in the sustainable built environment.

Trimurty Builders have always given importance to the natural and environmentally stable element of a building.  The company’s dedication is proved by its project like Trimurty Aurum – the Gold Rated Green Home by IGBC and Trimurty Ariana – first pre-certified Platinum Rated Green Home by IGBC. As builders, they understand their duty and responsibilities towards nature and its much-needed protection.

But how the construction of green buildings contributes towards reducing carbon emission is a question that many may ask.  The process of building a green building takes into account even the minutest of factor that can harm or disturb the ecosystem. If compared to a conventional building, a sustainable structure uses less water; energy is efficiently used, and it saves natural resources.

Here are some tangible and intangible benefits of green buildings –

1.   Enhanced Air Quality

2.   15 to 30% energy saving

3.   15 to 50% water saving

4.   Better health of occupants

Measures adopted to reduce carbon footprint at construction sites –

1.  We use of low Volatile Organic Compounds (low-VOC) paint which is healthier option and reduces long term maintenance

2.  To reduce heat transmission cavity walls and insulation is used.

3.  SRI tiles to reduce roof heat transmission

4.  Use of light colour for walls, floors and ceiling

5.  High-performance plumbing fixtures

6.  Proper drainage of water