Property buying guide for NRIs

When it comes to making property investment, NRIs have always set their eyes on the Indian property market. The booming development of the country and the ancestral trail has lured many NRIs to invest in India in the hope to returning to their motherland. While many make investments in areas known to them, for those who wish to earn profits from their property investments, places such as Mumbai, Delhi, Bangalore and Chennai are the most preferable locations. Clearly, in these cities the ROI is more than any other cities in the country. Among all the other cities, NRIs largely prefer to buy property in Navi Mumbai, simply because it is the financial capital of the country.

Mumbai is a city where the demand for homes has been exceeding the supply. In addition, the skyrocketing real estate prices make buying flat in Navi Mumbai similar to getting a heaven’s share. This leads to only the affluent class to be able to buy property in the city. The prices of real estate properties in Mumbai have increased tremendously in the last few years. Though there are many new projects coming up, the price tag attached to them often scares people. Even when they can afford it, there are some guidelines that NRIs can follow to make a safe investment decision.

While looking for flats in Navi Mumbai for sale, NRIs need to be extra cautious. The simple fact that they are not present in the country, makes duping them an easy way for making more money by some developers. There have been instances where many NRIs have been tricked into buying illegal or disputed properties and later to land in soup.

Another reason why NRIs should be cautious while investing in property is the authenticity of the company or the dealers. Many a times, NRIs are so keep on earning more profit through property that they forget to check if the company d the dealer they are dealing with is authorised or not.  While they may get all the necessary documents from the dealers, it is imperative to check whether the construction is legal or the properties sold to them is not under any dispute or owned by more than one person.

Mumbai surely offers higher return on investment when property is concerned, but not all may be good what seems good from the outside. One needs to double check the documents, the certificates of the developers and the authenticity of the construction before making an investment. It is always advisable to hire a real estate expert’s assistance to verify the developer’s credentials.