Queries on Your Mind?
If you find yourself with questions or uncertainties causing a pause in your decision to purchase a home, you've arrived at the perfect destination!
1. Who is considered an NRI?
According to the Foreign Exchange Management Act, 1999, a Non-resident Indian (NRI) is:
- Any Indian citizen residing outside the country for employment, business, holiday, or any other reason, indicating an indefinite stay abroad.
- Government employees officially posted in a foreign land on duty with the Indian Mission or other agencies set up overseas by the Indian Government, receiving salaries from Government resources.
- Government officials appointed overseas on assignment with foreign governments or regional/international organizations.
- Officers of State Government and/or Public Sector Undertakings appointed in a foreign country on a temporary basis or to a branch/office overseas.
[RBI FAQs: Explore common questions and answers regarding Reserve Bank of India regulations on immovable property acquisition by NRIs. (Read More)]
2. What documents are required to verify the legality of a home?
Ensure the legality of your dream home by checking the following documents (this list may not be exhaustive):
- Sale Deed
- Mutation
- Registration/Power of Attorney
- Building and/or floor plan
- Allotment letter
- No-objection letter from local and government authorities
- Possession letter
- Receipts
- Completion certificate
- Occupancy certificate
3. How to secure the right EMI for your personal needs?
Consider these points before embarking on your home-buying journey with EMI:
- Develop an investment plan before obtaining a home loan.
- Choose a home loan with affordable interest rates.
- Explore Flexi Hybrid Home Loans for added flexibility.
- Make prepayments to reduce your EMI burden.
- Opt for Home Loan Balance Transfer at competitive interest rates.