The most important dream and aim of a person settled abroad is to buy a property in their homeland. This is either their investment venture or they are trying to book themselves a place to stay post their return to their motherland.
It is true that the Indian Property market is also flourishing pretty well and features tremendous scope for promising real estate returns. The Government of India is also taking enough initiatives to build and create many smart cities in the country to aid the real estate investment decisions of NRIs. It is also focusing on infrastructural developments in the country as a measure to enhance connectivity within the states.
Investment returns for NRIs:
The worst trouble of any real estate investor is the devaluation of the goods that they acquire. Any investor will expect short and long term returns of their investment, be it bitcoins, bonds and also real estate. But there are a number of professional property dealers in Noida, Delhi, and other major cities in India that helps foreign investors with the best available real estate investments. Many of the economists in the country and abroad believe that investing in the real estate sector of the country by the year 2019 helps investors to realize the best benefits and profits out of it.
Price evolution of housing investments in the year 2019:
In order to learn if it will be a wise decision to invest in housing for the year 2019 for NRIs, it is important to analyze the Indian real estate market in the first place. As far as investing in housing is concerned, the demand actually continues to grow. Buying a property in India can seem a little expensive than yesterday, but it is a lot cheaper than tomorrow.
For instance, the residential apartments in Noida are available at a pocket-friendly and affordable cost, at a prime location. These flats in Noida are indeed ready to move and are available instantly at an attractive price. It is also not a good idea to invest in ready to move in apartments in the city as these cost little low than completed projects. As NRIs are in no hurry to come and live in the apartment, they can as well go for flats under construction and save a few hundred dollars.
The developers of these apartments are known for years for their timely delivery and their high-class construction methods and materials. Some of the premium residential apartments in Noida, India are being developed by those developers who are certified for their transparency and sincerity.
Renting and leasing out flats in Noida:
There are some of the best skyscrapers and beautifully planned flats in Noida, India that are available for attractive costs. Though it is necessary to choose and buy from a developer who has a known track record of hassle-free dealing in buying residential apartments in the city. A majority of the NRIs buy apartments for investment as they cannot leave their job in a foreign country and settle in India. They generally leave their apartments for rent for their fellow Indians and see this as their secondary source of income. But before leaving a flat for rent in Noida, it is important to have a good idea about the rental agreement in India.
Rental Agreement for an apartment in India:
A rent agreement is an agreement that expresses the consent of the owner and the tenant to pursue the prescribed rental principles. This agreement is generally prepared by the real estate agent who is a common middle man between the proprietor and the occupant. And in order to approve this agreement, it is important for both the tenant and the owner to give their consent by signing the agreements in front of witnesses.
Things that are included in the Indian rental agreement are as follows,
The agreement features all the important terms under which the property is given for rent by the NRI to the Indian National.
The agreement includes the names of both the owner and the tenant of the property, which is provided on rent.
NRIs have the right to learn if they are transacting with a genuine tenant and if all the records of the transaction are legal and open for verification.
It is mandatory to include the amount of money that is been paid as rent and most importantly the time period for which the agreement is been made. Generally, the time period of the agreement is eleven months.
It is important to include other additional terms and conditions under which the agreements can get reestablished upon its termination.
NRIs should ensure that the rental agreement should make all necessary references to the security features that are to be maintained by the tenant, including the security deposits.