A Reason for NRI’s to Buy Property in Bangalore

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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