NRIs too can avail home loans for purchase of residential property. They can purchase a house and can even take loan for self-construction on a plot and also for renovation/improvement of an existing residential property in India. Like resident Indians, NRIs can avail up to 80-85 per cent of the cost of residential property as a home loan. However, the down payment should be directly remitted from abroad through normal banking channels or from non-resident external (NRE) account and/or non-resident (ordinary) (NRO) account in India. EMI payments too should be remitted from any of these accounts. In the case of NRIs, however, there is a stress on certain pre-requisites such
[via India Properties - Real Estate India - Indian Property News Site]
Follow us @propertyheat – lists / @sectorheat
Related posts:
- Home Land Continues to Attract NRIs for Investment
- NRI home loans on the upswing
- NRIs can buy property in India
- NRIs can get home loans; here’s how
- Rules that Simplify Property Buying for NRIs in India
Follow us @propertyheat - lists / @sectorheat
