NRI

NRI

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Bangalore, the IT capital of India, has emerged as a prime destination for real estate investment, especially for Non-Resident Indians (NRIs). With its robust economy, thriving IT sector, and cosmopolitan culture, Bangalore offers a unique blend of growth potential and lifestyle benefits.

Vidhathri Developers stands out as a preferred choice for NRIs seeking real estate investments or wish to get their house constructed in Bangalore. Here’s why:

Construction contracting

Beyond apartments and societies, Vidhathri also offers construction villas and independent homes, catering to a wide range of NRI preferences and budgets.

Interior Services

Our commitment extends beyond construction. We provide interior design services to help NRIs transform their Indian homes into personalized living spaces, aligning with their tastes and lifestyles.

Low-maintenance residences

We prioritize simplicity, functionality, and durability in all our residential projects, ensuring efficient and low-maintenance construction.

Customer Centricity

We understand the unique needs of NRI investors and provide dedicated support throughout the investment journey whether they are seeking construction services, residential projects or interior services and refurbishing for their existing properties.

Advantages of Investing in Vidhathri Projects

Strong Track Record

Our successful projects and satisfied customers speak to our commitment to quality and timely delivery.

Transparent Processes

We maintain open communication with our clients, ensuring transparency and trust throughout the investment process.

Legal and Regulatory Compliance

We adhere to all legal and regulatory requirements, providing peace of mind to our NRI investors.

Investment Potential

Our strategically located projects offer excellent growth prospects, maximizing returns on investment.

FAQs About NRI

As defined by the Foreign Exchange Management Act of 1999 (FEMA), Non Resident Indian (NRI) is a citizen of India, who stays abroad for employment/carrying on business or vocation outside India or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a non-resident. Non-resident foreign citizens of Indian Origin are treated at par with Non Resident Indian (NRIs).

Yes. An NRI/PIO can transfer their residential property in India by way of a gift to an Indian resident/NRI/PIO.

Under the general permission, an NRI/PIO may purchase a residential property in India by funds remitted to India through normal banking channel or funds held in his NRE/FCNR (B)NRO account. No consideration shall be paid outside India.

Acquisition by purchase: Yes, under general permission granted by the RBI an NRI/PIO can purchase a residential property in India Acquisition by gift: Yes, under general permission granted by the RBI an NRI/PIO can acquire a residential property by way of gift from a person in India or an NRI or a PIO. Acquisition by inheritance: Yes, and NRI/PIO/foreign national of Indian origin can acquire residential property by way of inheritance from a person who is a resident of India as per the Provisions of Section 6(5) of the Foreign Exchange Management Act, 1999. An NRI/PIO/foreign national of Indian origin can also acquire residential property by way of inheritance from a person who is a resident outside of India, with specific approval of Reserve Bank, provided the bequeathor had acquired such property in accordance with the provisions of foreign exchange law in force at the time of acquisition or under FEMA regulations.

Under the general permission granted by RBI, the following categories can freely purchase immovable property in India: a. Non-Resident Indian (NRI)- that is a citizen of India residing outside India 1. Person of Indian Origin (PIO)- that is an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan), who at any time, held Indian passport or 2. who or either of whose father or whose grandfather was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955). The general permission, however, covers only purchase of residential and commercial property and not for purchase of agricultural land/plantation property/farm house in India. OCI can purchase immovable property in India except agricultural land/plantation property/farmhouse.

Yes. Under general permission an NRI can sell his or her residential property in India to an Indian resident/NRI/PIO

Person of Indian Origin (PIO) (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan), who at any time, held Indian passport, or who or either of whose father or whose grandfather was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955). Note: A spouse (not being a citizen of Pakistan or Bangladesh) of an Indian citizen or of a person of Indian origin is also treated as a person of Indian origin for the above purposes provided the bank accounts are opened or investments in shares/securities in India are made by such persons only jointly with their NRI spouses.

Yes. Under general permission an NRI can sell his or her residential property in India to an Indian resident only.

Since general permission is not available to NRI/PIO to acquire agricultural land/plantation property/farm house in India, such proposals will require specific approval of Reserve Bank and the proposals are considered in consultation with the Government of India

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