NRI selling property in India

Non-resident Indian’s play a vital role in the real estate market in India. Today, Indian real estate market is one of the fast growing industries and the demand for properties even increasing due to factors like development in infrastructure, IT Industry, BPO, connectivity, good return on investment etc. compared to others countries.

Non-resident Indian (NRI) can sell or gift their residential real estate property as well as commercial property to a resident of India, or another NRI. The formalities or procedure for selling your real estate property in India depends on your residential place.

The residential status in India is determined by the condition of Income tax Act based on the physical stay in the relevant financial year (tax year) or preceding ten tax years. Foreign citizens of non-Indian origin cannot buy a property in India. Therefore, you cannot sell your property to a non-Indian origin.

What property an NRI cannot Sell?

NRI can sell any commercial or residential property and he is also eligible to sell inheritance property but there are some conditions for selling agricultural land, plantation property and farmhouse. An agricultural land, plantation property and farmhouse cannot be sold to NRI or PIO. The NRI or PIO can acquire such property by inheritance only. Gifting of such properties can be done only to a resident in India.

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Things to Know Before You Make an Offer on a House

If you are a first-time real estate home buyer, you may be overwhelmed with the entire process. Many home buyers hire a real estate property agent and trust them completely. While a real estate property dealer and an attorney can offer you both guidance and support for buying both commercial as well as well residential property, it is most important to have a proactive approach. You should do your homework. You should be aware of every step. You should also question every people involved along the entire process.

Here is some important task that you should ask before making an offer:

1. What personal items will the seller include in the sale? Sellers tend to leave many items in the house, especially if they are moving to another city. While some of these items may be useful to you, others may not be. 
2. Why is the seller selling the house? Make sure the seller has a good reason to do it. You would not want a house that the seller is selling for poor construction value.
3. How long has the house been on the market? If the house has been available for a long time, be cautious. Check why other buyers didn’t go for it. 
4. What are home sales patterns in this area? Check the average time houses remain on market in this area. This information can be a huge determining factor, especially if you intend to sell the house in near future. 
5. Check the other offers on the house and the price reductions. Ask your real estate agent if the sellers have reduced their original asking price. Your offer price will also depend directly on the number of other offers on the house.
6. What is the average price per square foot in the neighborhood? Check the per square foot price of similar houses in the area before determining the offer price. 
7. How are the schools and school districts in the area? If you have young children, you may want to look for houses that are closer to good schools. Even if you do not have kids, good schools may be important for prospective buyers of your house down the road. 
8. Check the safety record of the neighborhood. All these factors can impact the price of the house in future.

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Tips for Buying Investment Properties

Looking to buy an investment property? Here are tips to consider first.

It pays to do thorough research before buying an investmentproperty to ensure you get the best return possible. Here are the 6 golden rules all buyers should consider before leaping into the investment property market.

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Check out the total costs

There can be many ongoing costs when you buy an investment property.

Factor in upkeep and repairs

If you’re buying an apartment also look at how much is in the sinking fund and work needed down the track like painting or whether the roof needs fixing in the near term.

Go where the vacancy rates are low

The old adage, ‘location, location, location’ still rings true for property investment, which means it’s also essential to consider the proximity of the property to essential services like public transport and schools.

Get into the right gear

“If you negatively gear the property makes sure you’re not hemorrhaging money each month,” says Brennan.

Decide between growth or yield

Another deciding factor in any investment property purchase is whether you are buying the property for capital growth or yield.

Choose the right management

Once you’ve purchased your property, Pilkington advises owners to appoint a real estate agent to manage it. “Even though I’m a real estate agent I still pay a real estate to look after my property because I don’t want to have to worry about things like chasing rent or appearing at the Consumer, Trader and Tenancy Tribunal.

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Is the Real Estate Bubble Big Enough to Naturally Burst in 2014?

One of the primary concerns for the real estate sector in the coming year is very clearly this: Will the much talked-about asset bubble inflates further or will it burst?

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2013 was mired in existing challenges such as subdued sales, piles of unsold inventory and builders going bankrupt. These problems will continue in 2014 as well, and, given economic instability, matters could become worse. However, it is very difficult to forecast anything in India as the real estate market is not subject to a fixed pattern. A great degree of political uncertainty, liquidity issues, high interest rates and cautious sentiments are expected to underpin the real estate sector in 2014 too. The only positive energy in this sluggish sector springs from the fact that the sales, though slow, are not stagnant. 

India’s real estate market has been faltering for quite some time as the economy remains under stress. Realty prices have been surging in an unprecedented manner unlike income levels which are not rising. The price increase is mostly speculative and can be attributed to the predominantly capital-driven nature of the sector.

While the cause might be the same at home, the movement of capital across the various geographies in India needs serious analysis. Let us look at each of the significant markets to understand the creation of the asset bubble.

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Commercial property for sale in Delhi NCR

A perfect and successful business always needs several factors and one of them is an ideal workplace that properly caters all of your official necessities. In Delhi NCR you can see that almost all companies offices have their main head offices situated in Delhi capital of India. It is the dream city for many people who are planning to open their own office or for the rent in Delhi NCR.

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Now a day people's economic condition is also improving better over time and they are willing to gain more money by starting or expanding their business in such a place where there is a potential growth market is already available. In Delhi NCR, one can increase their business horizons if they got a commercial property for sale in Delhi NCR.

Some most popular commercial place in Delhi include Connaught Place, Netaji Subhash Place, Punjabi Bagh, Nehru Place, South Extension, Okhla Industrial Area, Lajpat Nagar, Kasturba Gandhi Marg and several places nearby. These places are the most preferred place for commercial business purpose which include all kind of business infrastructure and markets close by.

If you are looking commercial Property for sale in Delhi NCR then you should be careful on several facts including property location, prices, proper documentation and legal obligation free documentation and property so that you won't face any problem in future and run your business without any compromise. But finding such commercial property in Delhi NCR are not so easy because there are many property dealers also who are looking for their own benefits and sometimes you get a property which is not ideal as per their price range or locality or other reasons that might be a problem for you in future.

You can easily find all the commercial property in Delhi NCR, IT office space in Delhi NCR and commercial projects Delhi on the website of cosmicindia.in and then contact us for more details and further bookings.

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Pick up in the requirement of Office spaces in Delhi-NCR

Office Space in Delhi-NCR

The National Capital Region (NCR) has long been considered as one of the prime office markets
in the country. The biggest pull factors for companies looking to set up big campuses are good
connectivity, planned infrastructure and ample affordable housing options for employees. Places like
Gurgaon and Noida have seen tremendous development in the past five years, and a bulk of new
supply is coming up in these very regions.

The NCR is expected to have fresh office supply of nearly 48 million sq ft in the next three years, with
fast paced growth in the IT/ITeS sector contributing hugely to the demand.

Most of the supply has come up in the peripheral business districts of Gurgaon, Noida, Greater
Noida and secondary business districts of Saket and Jasola; Noida and Gurgaon, though, continue to
be the preferred locations for companies.

The MNCs and corporates looking forward to set up their offices in India, were wondering whether
to go with the conventional wisdom of opting for the financial market of India or innovate with the
new emerging financial centres in Delhi-NCR in general and Gurgaon in particular. Most of the office
supply has come up in the peripheral business districts of Gurgaon, Noida, Greater Noida and the
secondary business districts of Saket and Jasola.

The proposed metro rail connecting Noida with Greater Noida, will further enhance the connectivity
of the sectors on the expressway and Greater Noida. Even though sentiments remain cautious in the
wake of the global economic scenario, we expect some green shoots of recovery, considering the
consolidation of domestic economic fundamentals and initiation of reforms.

According to CBRE, the fast-developing cities of Gurgaon and Noida, in the National Capital Region,
have seen some large multinationals fill office space during the quarter. In Gurgaon, American
Express and Cairn Energy have leased 200,000 sq ft of space each, Convergys and Salient BPO have
taken up 250,000 lakh sq ft and 40,000 sq ft, respectively. Fiserv has taken up 200,000 sq ft of space
in Noida. The last quarter saw a number of enquiries for expansion space also emerging, which
points to an improvement in sentiment over last year.

The debate as to whether Delhi-NCR is emerging as the new financial capital of the country or
Mumbai still holds an edge, depends on the given stakeholders' facts in hands, perception and
stake in the given market. However, what can be vouchsafed is the fact that from the office
occupier's perspective, Delhi-NCR in general and Gurgaon in particular holds an edge due to better
connectivity, infrastructure and fresh supply. Whether that takes it to the financial capital or not, is
something which is subjective at this point of time. http://www.cosmicindia.in/

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Office Decor

On an average, a person spends around seven to eight hours in office each day. This means that a significant portion of their time, is spent at office each day. Therefore, the environment of the office can greatly influence the productivity of the workers. If you take the adequate time and effort to design a well thought out office space, you will benefit greatly and reap exponential returns for your effort. When you design an office space, you should keep the employees in mind rather than focusing on saving money. When you design an office keeping the concern of employees in mind, they will find themselves in a constructive environment where they are motivated to work.
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The office design industry has been flooded with new trends. Incorporating new design and following flexible workstation concept with one design fits all theory.  One can simply revitalize office space and impress employees as well as visitors. Today’s complex work environment needs a versatile storage to address specific user needs in a very efficient manner. At the same time office environment needs to be influential for a team work rather than individual efforts.

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Technology continues to break down barriers of the traditional workplace, allowing for more open floor plans, flexible work schedules and spaces, shared office arrangements etc.

Globalization is changing the way we view everything. The world is getting even smaller. Our work force balance includes more people from different parts of the world. They bring to our offices varying political, societal, cultural and religious viewpoints. If we honor these employees and their traditions, we have the opportunity to access a much wider pool of talent. And they will have a different way of looking at work that can enhance your company. Sustainability is an important value to Gen X and Gen Y. Expect that your future employee will expect you to honor the earth by using reusable or local materials, adding natural elements and reducing energy needs and waste.

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