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As India’s economy booms and continues to maintain a steady 8 per cent GDP
growth, NRIs are looking towards returning to India for investments. But, the NRIs
contemplating return to India seek to maintain their ongoing lifestyle; thereby,
motivating the property developers in India to come up with innovative residential
and commercial projects of international standards.
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The developers are keenly focusing to meet this specific aspiration of the NRIs,
who want to experience the living standards of Dubai, UAE, yet feel the warmth and
hospitality of their motherland. This includes luxury homes and apartments, penthouses,
villas and condominiums.
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Recent trends have highlighted that NRI investment for residential properties in
India either serve as second homes, vacation homes, investment property or as retirement
homes. NRIs have also been investing their money in the lucrative commercial real
estate market in India as the capital values and rental values for corporate office
spaces and retail mall spaces are appreciating high returns.
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enefits for NRI who migrate back to India according to RBI guidelines
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- may continue to hold, own, transfer or invest in foreign currency, foreign security
or any immovable property situated outside India, if such currency, security or
property was acquired, held or owned when resident outside India.
- may open, hold and maintain with an authorized dealer in India a Resident Foreign
Currency (RFC) Account to transfer balances held in NRE/FCNR(B) accounts. Proceeds
of assets held outside India at the time of return, can be credited to RFC account.
The funds in RFC accounts are free from all restrictions regarding utilization of
foreign currency balances including any restriction on investment in any form outside
India.
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Exemptions for NRI :After returning India for permanent residence
NRI Ancash following exemption from wealth tax for seven years after return to India.
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- the money and the value of assets brought by him
- Value of the assets acquired by him out of such money within one year immediately
preceding the date of his return
- Basic exemption of Rs. 15 lakhs is also applicable.
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Reasons of returning NRI back to India :
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Comparisons on lifestyle, food, schools, and hygiene and work culture follow, and
a family consensus on “returning to India” is reached. NRI techies find
that they can make valuable contributions to the booming IT industry in India and
with a good number of “world” schools, plush accommodation, global entertainment
and the sprouting shopping malls, India is the place to be.
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With multinational companies picking from the cream of attractive resource pool
of India and the country offering multiple job avenues to explore, many NRIs have
begun to return to India.
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Riding the wave of the IT revival in India, giant conglomerates like Wipro, Infosys,
and Satyam is earnestly planning to dominate tech hiring wave here thereby trying
to give their domestic counterparts a backseat. And, in doing so, they have been
succeeded to tempt NRI professionals, who generally fill up for top and middle level
positions.
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A lot of high value recruitment is likely to take place in coming few years. For
NRIs, this clearly underlines the fact regarding advantages of returning back to
India outweighing the disadvantages by far.
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Companies hiring NRIs: Some of the IT & ITES companies
which are actively hiring NRIs returning to India.
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Why Investment In India is Profitable?
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Supporting the trend is development of Indian economy that is growing nicely at
6 to 7 percent annually. A wise investment in India can easily become your wealth
creating tool and get investors a handsome profit margin. For that reason, cross
border investors are taking great interest in putting in a modest amount of capital
in India with the advantage of repatriation of the funds invested.
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The real estate market in Indian giving more return on the investments than the
same offered by other developed countries. Simpler process of making investment
has upturned the equation; therefore, quite a few NRIs are consistently putting
in money in the real estate
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A number of NRIs who plan to shift back to India are increasingly investing in real
estate. Not only is India making a phenomenal progress in the growth of its IT and
ITES sectors but as a result also attracting back the best engineers and professionals
from across the world. As a result, the real estate market is thriving in cities
that offer excellent job opportunities. There is a lot of speculation about the
growing unaffordable prices of the Indian real estate market. But investors should
remember that real estate developers are making sincere efforts to make highly affordable
real estate options that are equipped with modern amenities and comfortable living
that match international standards
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