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Compelling Reasons for NRIs to Invest in the Mohali Real Estate Market

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Compelling Reasons for NRIs to Invest in the Mohali Real Estate Market

In the realm of Indian real estate, the market in Mohali has been booming since the past few years. People have been investing in Mohali which has resulted in the Mohali real estate rising every year. The city has emerged as a promising and booming real estate marketplace for international property investors. With Mohali’s diverse range of options for property investment the city has gained immense attention for Non-Resident Indians (NRIs).

Let us explore the reasons why it is good for NRIs to invest in the Mohali real estate market and why is NRI investment in mohali increasing.

  • Section 80EE Additional Deduction for First Time Homebuyers – For NRIs that are willing to purchase their first home in India, section 80EE offers an additional deduction of 50,000 INR per annum on home loan. This incentive is offered only to first time homebuyers among NRIs. This allows them to benefit from this by investing in a growing real estate market. NRIs can profit from these investments as property investment also comes with tax benefits. They can also be a part of a growing economy and watch their investment grow while also fulfilling their dream of owning a home in India.
  • Section 80C – Section 80C of the Indian Income Tax Act allows for a maximum deduction of 1,50,000 INR on the repayment of principal amounts. This act allows NRIs to reduce their taxable income significantly, hence lowering their overall taxable income. Other than this NRIs can also benefit by availing deductions from registration tax and stamp duty. This helps in further increasing their tax savings.
  • Section 24 – Deduction on Repayment of Interest on Home Loans – Under the category of ‘income from house property,’ Non-Resident Indians (NRIs) who invest in the Indian real estate market can avail deductions on the repayment of interest on home loans through Section 24 of the Income Tax Act. This provision permits a deduction of up to 200,000 INR per year. This tax advantage not only alleviates the financial strain of interest payments but also enhances the overall affordability of owning a property in India.
  • Government Policies for NRIs – The Indian government offers multiple benefits to NRIs so they can invest in the Indian market and help the Indian economy grow. Passed by the ordinance of the central government FEMA (Foreign Exchange Management Act) allows NRIs to make safe and secure transactions when buying an asset in India. This eases the home buying process and gives assurance to NRI investors that their money is in safe hands.
  • Transparent Transaction System – The NRI property investor in India can feel secure knowing that the Indian transaction system has not only become safe and secure but also more transparent. The implementation of RERA act in 2016 has ensured that transactions are more transparent hence reducing the risk of fraud and giving more power and control to the investor. The RERA act of 2016 also ensures that there is absolutely no delay in property possession. All this can help in giving NRI investors more confidence to invest in the Mohali real estate market.
  • Property Price Appreciation – Mohali has experienced a significant increase in property prices, making it an attractive investment opportunity. The projects in Mohali offer various advantages such as prime locations, top-notch amenities, gyms, and renowned developers like JLPL. Additionally, the excellent proximity to public transportation adds to the appeal for investors. Moreover, the simplified payment system and the growing demand for commercial properties have further contributed to the rise in property prices in the Indian real estate market. This presents a promising opportunity for NRIs to achieve impressive returns on their investments, especially in the commercial sector. By investing in properties that are expected to appreciate in value in the long run, NRIs can take advantage of these favorable trends and maximize their investment potential.

Conclusion

The Indian real estate sector is currently a highly appealing option for NRIs looking to invest in a profitable market. With a strong economy, diverse investor opportunities, and favorable market conditions, particularly in luxury real estate in Mohali, the potential for success is immense. Additionally, the government’s efforts to promote transparency and implement investor-friendly regulations only add to the attractiveness of Indian real estate investments. One of the key factors that make NRI investment in Indian real estate so enticing for NRIs is the potential for higher return on investment (ROI) and property price appreciation. These factors provide a compelling reason for NRIs to consider capitalizing on the vast potential of the Indian real estate market. By taking advantage of these five reasons, NRIs can make well-informed decisions and seize the opportunities presented by the dynamic Indian real estate market.