Real Estate Guide to Buy Property In Chennai for NRI’s

Buying Property for NRI's

For NRIs (Non-Resident Indians) and Overseas Citizens of India (OCI) to buy a house back home is an emotional connection. That said, it is also a lucrative opportunity. Chennai real estate is ideal for NRIs as the booming real property market here gives higher returns and tax benefits. According to the Real Estate transaction under Foreign Exchange Management Act (FEMA) – an NRI or person of Indian origin (PIO), as defined in FEMA, can acquire by way of purchase, any immovable property in India, other than agricultural land, plantation property, and farmhouse. It is interesting to note that NRIs or OCIs can hold as many permitted immovable properties in India and even inherit properties including agricultural land. 

Chennai is one of the more sought-after real estate destinations in India. From the automobile industry to the IT sector, Chennai is home to several multinational companies today. There has been an influx in investments in the city owing to the same. Consider a few options before investing in real estate in Chennai. 

Properties in Chennai

Identify the Best Location:

It is important to first look for the right location for you. The city is expanding and areas such as Sholinganallur, Madhavaram, Pallavaram are seeing a rise in worthy projects. There are several global companies that are seeing potential in these areas and thus making way for rapid development in infrastructure and necessary services such as health care, educational institutes, and supermarkets.

Select a Project with Reputable Builder:

As the property is more of an investment and your physical presence to inspect the project will be minimal, it is vital that you go with a builder that has a good reputation and has projects that have seen great success. Check their quality of construction, costing, and the amenities provided.

Apartments for Sale in Sholinganallur

Appreciation of Property:

One of the main reasons that NRIs look for real estate investment is the appreciation of property value over time. They would like to opt for properties that give good rental income, which will greatly depend on the location of the project and the amenities that the project comes with. 

NRIs who are looking to invest in real estate in India can look at established builders like Radiance, who not only give assured quality but also amenities worth the investment. With world-class features, a solid foundation, and a reputable name, Radiance offers its buyers properties that can fit their budget easily. So if you are planning to invest in real estate, choose a builder who will give you transparent and life-long benefits. Check out to find out more.