This is the Right Time to Purchase Property in India for NRIs

Updated on: 18 Jan 2024 // 4 min read // Home Loans
Author :(466 posts)

Buying a residential property or a commercial property is one of the most significant financial investments that an individual can make. That is because the prices of properties have risen to such levels that it requires you to pool all your sources of finance together and even then, need to borrow a significant amount of money to be able to realise your dream of owning a property in India. Residential properties in India are available in different forms such as plots, houses, apartments, villas or independent floors. The best option that you have to generate funds in the present times while looking to purchase a residential property is to apply for a housing loan.

All about Housing Loans

Housing Loans orHome Loans are secured loan offers from various financial institutions in India such as banks, non-banking financial companies (NBFCs) and housing finance corporations. Herein, you are required to mortgage the residential property purchase with the help of a HomeLoan with the lender.

HDFC Home Loan Offer

Depending on your eligibility and financial profile, the maximum repayment tenure that you can opt for is 30 years,and the rate of interest starts from 8.35% p.a. The amount borrowed as a Home Loan must be used only for the purchase of a property for residential purpose only. Many lenders also offer the facility of a top-up loan, over and above the Home Loan amount, which can be used for any other financial requirement that you may have.

With the rapid progress of technology, the process to apply for a housing loan has become very convenient. You just need to identify the most suitable Home Loan product that meets your requirements through the particular lender’s website or online at MyMoneyMantra. Then you have to fill in the basic online application form. If your profile meets their eligibility criterion, their representative will come to your place to collect the required documents. After the due diligence process, the application is approved, and you are required to deposit the margin money with the lender,and then the lender will transfer the complete payment to the seller,and you can then get the registration process completed and become the owner of the property. 

Why is it the Right Time for NRIs to Purchase a Property in India?

NRIs or Non-Resident Indians have played a significant role in the development of the Indian economy since last many years. The transfer payments, purchase of property and various investments done by the NRIs in different Indian markets have fuelled the growth of the Indian economy and have kept it safe from the effects of the global recession to a large extent.

After years of slow down, Indian real estate sector is witnessing resurgence due to the various key reforms implemented by the Government of India at the policy level. As the developers and sellers are still stuck with huge unsold inventory and the rupee has weakened to new lows, it is the most opportune time for NRIs to foray into the market and make some smart investment decisions. Here are the key factors and developments in the Indian real estate market that make this the perfect time for NRIs to invest in the real estate market:


The Real Estate Regulationand Development Act 2016 (RERA) has proven to be a gamechanger for the Indian real estate sector, which had been suffering from various issues since its inception and the customers were left at the mercy of the developers. This legislation acts as a deterrent for unprofessional developers to mend their ways and complete the projects on time. This ensures timely delivery of the projects as per the timeline agreed. NRIs are thus assured of timely delivery of projects in which they have invested and reiterate the confidence in the Indian real estate sector.


The single most significant tax reform in the history of India, Goods and Services Tax (GST) has now brought in an era of a uniform tax regimen in the real estate sector, across the length and breadth of India. Anti-profiteering provisions of the GST along with insolvency and bankruptcy code have transformed the real estate sector into a customer friendly investment avenue.

Huge Inventory Available

There is a huge inventory available with the developers which are yet unsold,and some of these projects assure a handsome return on the investment. This makes the present time one of the best to invest in the real estate sector in India for NRIs.

Price Correction

With the prices of residential properties reducing significantly since last two to three years, NRIs can now buy properties in good projects at significantly lower prices, which assures great return on investment. They can now secure discounts and deals across various price categories. Also, Home Loan Interest Rates have reduced significantly in the last few months, making it the best time to buy a property in India.

Tax Benefits

Various tax benefits are now available to investors on various completed projects across India, making it an ideal opportunity for NRIs to get a greater return on investment. With all the indicators pointing towards the resurgence of the real estate sector in India, time is ripe for NRIs to foray into the market and make some smart investment decisions.