Posts Tagged ‘online remittance’

Real estate for the eager NRI

April 12, 2013

When it comes to investments and returns NRI’s across the board are ever eager for such opportunities. Making the government even more eager to please and attract such investors from abroad. Real estate is constantly drawing the NRI attention and with a stabilized market looking good, these investors are most ready to buy.

The Reserve Bank of India has permitted those NRI’s with Indian passports and people of Indian Origin, to freely put their money in real estate (residential & commercial) and has increased the number of such investors on account of a depreciating rupee value and the offer of better returns. For reasons sentimental and for a sense of security, a homeland investment makes quite the number of NRI’s happy.

On an interesting note, the RBI along with Foreign Exchange Management Act (FEMA) has made rules and regulations lenient for NRIs, by not only simplifying investments policies, but also providing repatriation of capital involved. While an investment promotional council by the government is further creating a more investment-friendly environment appropriate for NRIs.

How NRI’s can invest in Real Estate?

According to the regulations of FEMA and RBI, an NRI is permitted to make specific investment in real estate and is allowed to do the following investment in property:

1] Any immovable property can be purchased by NRI in India other than any agricultural land, farm house and plantation property.

2] Get any immovable property as mentioned above by gift from an Indian resident, Indian citizen residing outside India or person of Indian Origin.

3] Obtain any property by inheritance.

4] Transfer immovable property to any resident of India by sale.

5] Transfer any agricultural land, farm house or plantation land to any resident of India by gift.

6] Transfer residential or commercial property by means of gift to any person either residing in India or abroad or person of Indian origin.

Sources of Finance
Financial institutions consider the NRI Diaspora, one of the most sought after clientele and aim at offering, such a potential group with valued added terms and services. Keeping in mind that NRIs tend to be prompt at the time of repayment. Not to mention, that inward remittance and return on investments via, rent/dividends are a big bulk of business offered by NRIs.

The RBI has also predetermined norms in home loan for NRIs buying any property:

1] A maximum of 80% amount is financed by the financial institution. Rest should be paid by an NRI.

2] The remittance of the amount for down payment can be done from the place of residence by normal banking channels, i.e., NRO/NRE account in India.

3] Furthermore, an NRI has to repay his principal amount as well as interest part from that similar channel only.

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To know more about NRI Money Transfer and other Online Remittance To India services to make your investments choices  you can also visit our website

The Pro’s & Cons of living away from my homeland

April 5, 2013

The decision to look out & move abroad was one that was taken in desperation. My husband had lost his job & difficult times caused us to consider options we normally would never have. Our family is one that thrives on the city air. We grew up in ‘gullies’ & played our best childhood games in familiar alleys, stole pieces of mango left to dry in the hot sun by neighbors & looked forward to the post dinner dessert session at the local ice cream shop.
After the initial shock & recovery from the news of the loss we laid straight on the table what our options were. And to be honest what we saw did disappoint us. Almost every Indian survives & lives a regular life with various amenities depending on EMI’s & loans taken for household items & other comforts that help you pay towards them in installments. We were in a similar situation. Due to our credit scene, the employment whatever it would be had to be in par with my partner’s previous work & earnings.

This realization brought us to the hard decision we were about to take, a decision that changed our lives forever. The decision to relocate to another country for better prospects & to save our self from the financial calamity that was approaching us.
Finally having relocated to the United States has an impact that has altered our everyday living. While there are obvious perks like that of a better standard of living, exposure to a global culture & a future that beckons us to strive to excellence. What we leave behind never the less is something so precious it can never be replaced. So in my pondering moments I boiled down a list of the pro’s & cons of living a life outside your homeland.
The cons of the international life:
1) Being away from the family:
A feature very special to Indians is their proximity & tendency to flock with family & people they love. My heart aches every time someone needs us emotionally or physically, be it my in-laws family or my own family, it’s just a feeling of helplessness that overcomes me. I miss those family gatherings both the ones that are planned & those that are unplanned.

2) Miscellaneous Help:
The privileges of having the access to domestic maids who can do the household chores. Sometimes days are so challenging that I’m home after a tired work day & find myself daunted further more with the umpteen number of chores that need to be attended to. Here I am left with no choice hiring a help is too expensive.

3) Food:
When the cravings strike…I just feel like having spicy chat or that coconut burfi from Kanti Sweets . Here we drive all the way to a comparatively more Indian locality or neighborhood and eat something that is not even close to the taste that you are looking for and pay by the bucket!

4) The Festivities:
Most major festivals are celebrated here but, the feeling of the festivities in India is something so unique. It really impresses me to see Ganesha’s , Banana leaves and festive decorations, Firecrackers during Diwali , the Yummy Biryani during Id from our neighbors. My mind swells up with beautiful memories.

The pro’s of living abroad:

1) The Savings:
As the Rupee dips and Dollar value increases the amount of savings you can have in an international location is surely better. Because you are paid in a currency that appreciates well savings especially when investing them back home has a huge impact than what we have managed so far.

2) The Infrastructure :
Compared to what we have back home the roads, the lack of traffic jams, the organized public transport, cleanliness , convenience – It’s simply amazing how it all works.

3) Child Care Facilities:
I wonder if I would have found a child care with the same standards as here back home . The 7.00 am to 7.00 pm timings with a kindergarten combined child care offers me the liberty of convenience to pursue my interests keeping me assured that my child is in caring hands!

4) The Convenience :
An Indian grocery & many other multi specialty stores are just a hop, skip and jump away. This allows me the convenience to get ‘Dosa’ batter at 9.00 PM or a pack of Indian branded ‘Soan Papdi’ when our sweet tooth calls for it.

To know more about NRI Money Transfer and other online banking services you can also visit our website.


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