It’s a common conversation amongst NRI’s buying a property in Bangalore that NRI’s are often lured into fraudulent plots, litigated lands and fly by night’s developers. This has put a number of vulnerable NRI’s who believe in trust to inconvenience and financial losses.

Here are a few tips / must follow guideline to help you take the right decision:

It could be one of the most important purchases of your life, be it for an investment, or your future home. Picking up the right property is critical and must be done after a lot of intense research comparative study of the quality, finishes, infrastructure and amenities. Reading up on what real estate consultants suggest, clarifying queries through independent forums and keeping track of developments in the industry can take you a long way. While it may be a time consuming task, it is well worth the effort. It is also worthwhile to view a lot of consumer centric programmes which share their experienced with the developer. A proper due-diligence prior to the purchase is a must, regardless of the volumes of study or advice that one might receive.
Make sure to always go through a reliable developer with credible background and a good market standing. One needs to check whether the developer has the requisite permissions or licenses in place and if the property is not under any legal disputes. Also, We need to check if basic facilities and amenities are being provided. With a reputation to maintain for the developer, your risk of running into a ‘wrong’ investment is low.
Real estate is majorly challenged with the problem of fake and expired listings when you visit portals. Double check the listing you see on the portal with the developer offline and preferably choose a site that offers verified listings.
Compare bank loan offers online and choose the best amongst the interest rates, application fee, tenure, partial payment flexibility, EMI amount, etc offered by them, On an average, most top banks charge an interest rate between 9.90% and 11.75%, and application fees could range from INR 2,500/- to INR 10,000/-. Ensure that you have a good credit history. It is worthwhile to keep a tab on the latest policy pronouncements by the government and various agencies for ensuring you understand the interest-rate regime. Make sure you disclose all loans that you are servicing at the time of applying. Non disclosure will lead to the loan getting rejected.
Make sure you know everything before making the commitment to purchase the plot. Information right from the booking amount, stamp duty and other taxes, time of possession, facilities provided to cancellation fees if any etc. needs to be analyzed very minutely.

Investment in India1

In recent times, India has emerged as one of the popular real estate destinations for the global investors. According to the consultant Cushman and Wakefield, “Investment in Indian real estate was over US $ 5 billion in the year 2014.”
Real estate is one of the booming industries in the country and your investment will surely flourish in the next five years. It is all set to scale new heights with the emergence of fresh localities in tier one and two cities. Apart from financial opportunities, a home at your own homeland provides a sense of security and supports you and your family emotionally.
KNS appreciates your concerns and apprehensions. It’s precisely the reason why it provides high quality plots at strategic locations and maintains a complete transparency in every transaction.

Investment opportunities with KNS Infrastructure

KNS Plots are strategically located in the growth corridors of Bangalore. This includes Sarjapur, Mysore Road.

KNS is one amongst the top brands in plotted development. It has set a new benchmark. KNS committed to deliver quality plotson a scheduled time. Consequently, KNS Plots are bound to appreciate much faster than the rest and offer a greatinvestment opportunity for you.
KNS is dedicated to maintain high quality standards and transparencyin every sphere of business. When you go in for a KNS plot, quality of the product is naturally yours.
KNSLimited is highly regarded for its transparency, fair play, integrity and honesty. The company has maintainedthe highest standards in quality, protection of environment against pollution, health and safety of its employees.Your investments are in safe hands when you own a KNS Plot.


NRI – A Non Residential Indian according to the Foreign Exchange Management Act (FEMA) of 1999 is an Indian Citizen who stays abroad for employment/business or stays outside the country for an indefinite period of time is considered to be an NRI. (Persons Posted in U.N. organisations and official deputed abroad by Central/State Governments and Public Sector undertakings on temporary assignments are also treated as nonresidents). Non-resident foreign citizens of Indian Origin are treated on par with non- resident Indian citizen (NRIs).
PIO is a person of Indian Origin whose ancestors were born in India and he/she has an Indian ancestry, but not an Indian citizenship. As per the FEMA of 1999, a person of Indian origin can avail bank accounts, invest in shares and securities in India. he/she has an Indian Passport at any time -> Himself/herself, parents or grandparents were Indian citizens (of the Constitution of India or Citizenship Act, 1955 (57 of 1955). -> Is a spouse of an Indian citizen or a person who held an Indian Passport at any time. -> Is a spouse of a person who either was a citizen of India or his parents or grandparents were a citizen of India.
According to the RBI guide lines, an NRI/PIO can purchase a residential plot in India. He or she can even acquire residential property by way of inheritance from an Indian resident.
An NRI can sell his or her plot in India to an Indian resident/ NRI / PIO.
Yes. An NRI/PIO can transfer their plot in India by way of a gift to an Indian resident/NRI/PIO.
Under general permission a PIO can sell his or her plot in India to an Indian citizen only.
Under the general permission, an NRI/PIO may purchase a plot in India by funds remitted to India through normal banking channel or funds held in his/her NRE/FCNR (B)NRO accounts. No consideration can be paid outside India.
Reserve Bank of India has granted general permission to certain financial institutions providing housing finance e.g. HDFC, LIC Housing Finance Ltd., etc. and authorised dealers to grant Plot loans to NRIs for acquiring a Plot for personal use, but subject to certain conditions. The purpose of the loan, margin money and the quantum of loan will be at par with those applicable to plot loans to residents. Repayment of loan should be made within a period of 10 years out of inward remittances or out of funds held in the investors’ NRE/FCNR/NRO accounts.
NRIs and PIOs are required to file a declaration in a form IPI 7 with the Central Office of Reserve Bank at Mumbai (within a period of 90 days) from the date of purchase of the plot and registration the same along with a certified copy of the sale deed which would be an evidence of the transaction and bank certificate regarding the consideration paid.
Reserve Bank of India has permitted NRIs to let out any immovable property in India on rent. The rental income or proceeds of any investment of such income are eligible for repatriation.

Can NRIs / PIOs repatriate out of India the amount received from the sale proceeds of immovable property held in India?

When an NRI/PIO sells an immovable property other than agricultural land / farm house / plantation property, the authorised dealer may allow repatriation of the sale proceeds outside India, provided the following conditions are followed:

Repatriation outside India means the buying or drawing of foreign exchange from an authorised dealer in India and remitting it outside India through normal banking channels or crediting it to an account denominated in foreign currency or to an account in Indian currency maintained with an authorised dealer from which it can be converted in foreign currency.

In case the property is acquired out of Rupee resources and/or the loan is repaid by close relatives in India (as defined in Section 6 of the Companies Act, 1956), the amount can be credited to the NRO account of the NRI/PIO. The amount of capital gains, if any, arising out of sale of the property can also be credited to the NRO account. NRI/PIO are also allowed by the authorised dealers to repatriate an amount up to $(US) 1 million per financial year out of the balance in the NRO account / sale proceeds of assets through purchase / the assets in India acquired by him through inheritance / legacy. This is subject to production of documentary evidence in support of acquisition, inheritance or legacy of assets by the remitter, and a tax clearance / no objection certificate from the Income Tax Authority for the remittance. Remittances exceeding US $ 1,000,000 in any financial year requires prior permission of the Reserve Bank.
A person referred to in sub-section (5) of Section 6 of the Foreign Exchange Management Act 3[3] [3], or his successor shall not, except with the prior permission of the Reserve Bank, repatriate outside India the sale proceeds of any immovable property referred to in that sub-section.

NRI/PIO may repatriate up to US $ 1 million per financial year (April-March) from their NRO account which would also include the sale proceeds of immovable property. There is no lock in period for sale of immovable property and repatriation of sale proceeds outside India.