NRI’s often invest in Buy property
in Bangalore not only to remain connected to their motherland
but also because renting out such a property earns them additional income.
Non-Resident Indian’s are among the most successful ethnic groups in the world,
they are Indian yet they live and work in parts of the world where their
talents and skills are better rewarded. The prowess of the Indian mind has
never been in doubt and the presence of Indian’s at the helm of the largest
technology companies only reinforces what many Indian already know i.e. when
given a fair playing field, they will come out on top.
Why to Not Own Property in Bangalore?
An NRI who wants to buy
house in Bangalore may know someone trustworthy who could help him buy a
house in the city, yet to earn rental income from the mentioned property may,
in the minds of the buyer, requires a close watch on the property . This is one
factor that deters NRI’s from buying property
in Bangalore and properties across India since many NRI’s live thousands
of miles away they do not have the time or resources to keep a vigil on their
property.
There are additional disadvantages for NRI’s to buy properties in
India. Not only do they spend money to purchase a flat that will remain
unoccupied for a vast majority of the time, the owners would also have to pay
tax on the property in Bangalore.
Hence from the mindset of the NRI’s, though the act of buying a property in Bangalore is driven by
sentiment, it is an unprofitable decision.
Help for NRI’s Buying Indian Realty
An NRI has recently started a venture that hopes to handhold
others like him to not only buy property in India but to rent it out. Bangalore
property is one among numerous others in India that will attract inflows of
capital from abroad. The reason why many NRI’s have thus far been unsure of
investing in Luxury
apartments in Bangalore
is simply because they do not know what the buying process from inception to
completion would look like. There is also a trust deficit between NRI buyers
and local sellers that deters many NRI’s from buying real estate, this trust
deficit is further magnified in the case of NRI’s who have been living overseas
for years and decades and do not know anyone trustworthy in India who could
help them close a real estate deal.
Conclusion
The company launched by the London-based NRI that promises to help
NRI’s through the buying process from end to end could attract numerous NRI’s
who had been reluctant to buy property from Top
builders in Bangalore. Additionally, the plan by the Non-Resident
Indian to take care of renting out such apartments
in Bangalore after charging a fee also appears to be a winning
proposition.
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