Things an NRI Should Consider When Investing in Commercial Property in Kolkata

Before you invest in Kolkata commercial office space, NRIs should be aware of these things:

Location – This is an important thing to consider when looking for commercial office space Kolkata. Do some research on that area, including gathering information about the rents of similar properties and making a list of Indian clients.

High returns for due diligence: You’re looking to increase your return on your investment in office space for sale in Kolkata. You should expect to earn income by investing in commercial properties. Once you have reviewed all information, contact the seller to negotiate a fair commercial deal. To find out how much you can borrow to purchase a property that will give you good returns, use a property loan calculator.

Regulatory Bill: The RBI has simplified the rules for property purchase in India to encourage foreign investment. The Foreign Exchange Management Act (FEMA) governs real estate transactions.

Types of properties: An NRI can invest in any property. Indians living abroad can purchase as many Indian residential and commercial properties as they wish. Foreign investment is not allowed on farm land, plantation properties, or farmhouses.

Safety and fire standards: Before you invest in commercial office space Kolkata, make sure to inspect the plumbing and electrical systems. This will save you money in the long-term. The Municipal Corporation Department works to ensure safety, particularly in the event of fire or other natural disasters. Be sure to verify the responsibility of the property owner before you take the plunge.

Be sure to check the maintenance costs: There are many extra costs associated with owning a property, such as maintenance costs. This varies from one building to the next. Commercial properties will have higher utility and other costs. You might not be surprised at the cost of security and other important facilities.

Finance transactions and funding: All real estate transactions must be made in Indian currency via Indian banks. An NRI account at an Indian bank is one of the requirements.

No-due certificate: To avoid paying any fees if you are investing in property in India, or if the property is jointly owned, get a no-dues certificate at the time of purchase. You should also ensure that there aren’t any pending bills or dues.

Power of attorney: If you’re buying an unfinished property, the NRI must give power of attorney either to the developer or to a trusted associate. Get help from your lawyer to ensure that a legal document is created so that forgery is not possible.

Conclusion

Kolkata has for long been one of most important cities in India. Kolkata has attracted a lot of business because of it’s geographical location. The city is also a major business and financial hub and global companies look to set up office here. If you want a relatively safe investment bet then office space for sale in Kolkata is a good option for an NRI. With a completed, ready for possession office space you know that all clearances and certificates have been obtained by the developer of the project.

Leave a Reply

Your email address will not be published.