Rajiv Posted April 21, 2011 Posted April 21, 2011 Is it possible to buy property in India ( not necessarily read or available right away ) via Monthly payments from US/Canada? Any Company which facilitates this
Rajiv Posted April 21, 2011 Author Posted April 21, 2011 But how reliable are they, sitting here and paying monthly. Arent there big companies which do this? Mumbai, Pune
IKnowU Posted April 21, 2011 Posted April 21, 2011 My dad does. We have a house in INdia. The repayments and stuff are done through Citibank. They seem to pretty friendly and non hassle type. You have to setup a NRI account and deposit some money and some other jargon im not exactly sure about. Through Australia btw.
asterix Posted April 21, 2011 Posted April 21, 2011 I'm doing it using HDFC. I send money to my NRI account every month using their online remit facility. They take out the EMI from my NRI account. http://www.hdfcbank.com/nri_banking/loans/home_loans/home_loans.htm Also check this: http://www.hdfcrealty.com/
vipin Posted April 21, 2011 Posted April 21, 2011 Most of the developers consider NRIs as prime market for a section of their real estate. You can visit the websites of any of the developers and go on from there.
ViruRulez Posted April 21, 2011 Posted April 21, 2011 India's property market is highly dependent on NRI and nearly all developers welcome NRIs for property purchases. If you are looking for investment property then I would advise you to check out Greater Noida and Noida Extension in NCR. Property prices there should increase significantly in the next 5-10 years. But always make sure to purchase from reputed builders who have past work and several completed projects in their resume. Some reputed builders in NCR are: http://mahagunindia.com/ http://www.emaarmgf.com/ (Emaar rates are a bit higher than most others due to being a premium brand http://www.ansals.com/index.asp http://www.gaursonsindia.com/ You can get more idea about Indian real estate and discuss about it at http://www.indianrealestateforum.com Which is a popular Indian real estate forum
Sir john Posted April 21, 2011 Posted April 21, 2011 ^ Noida is nice place but there are 200 sectors there .:haha:
ViruRulez Posted April 21, 2011 Posted April 21, 2011 ^ Noida is nice place but there are 200 sectors there .:haha: Yes Noida is large and Greater Noida especially is quite far off from Delhi for making quick progress. But it is coming out quite planned and will be a hitech organized city in 5-10 years. That is why I said investment property where prices would double or triple if not more in a few years. BTW if you are a cricket fanatic then I forgot to mention the top builder for the same Jaypee where you can own flat with F1 cars zooming nearing your house and an international stadium near your house. If you are a cricket and sports fanatic then Jaypee Sports City is a also a good place to invest. Maybe in 5-10 years you can come to India and stay and watch F1, Golf and Sachin bat near your house. http://www.jaypeegreens.com/ The master plan of the sports city in this PDF http://www.jaypeegreens.com/sportsCity/pdf/sports-city-master-plan.pdf http://www.jaypeegreens.com/sportsCity/index.html?siteId=&adUnit=&adgroup=&keyword=§ion=
Sir john Posted April 21, 2011 Posted April 21, 2011 Yes Noida is large and Greater Noida especially is quite far off from Delhi for making quick progress. But it is coming out quite planned and will be a hitech organized city in 5-10 years. That is why I said investment property where prices would double or triple if not more in a few years. BTW if you are a cricket fanatic then I forgot to mention the top builder for the same Jaypee where you can own flat with F1 cars zooming nearing your house and an international stadium near your house. If you are a cricket and sports fanatic then Jaypee Sports City is a also a good place to invest. Maybe in 5-10 years you can come to India and stay and watch F1, Golf and Sachin bat near your house. http://www.jaypeegreens.com/ The master plan of the sports city in this PDF http://www.jaypeegreens.com/sportsCity/pdf/sports-city-master-plan.pdf http://www.jaypeegreens.com/sportsCity/index.html?siteId=&adUnit=&adgroup=&keyword=§ion= i can't am a new employer can't think about buying a property. will buy in future.
ViruRulez Posted April 21, 2011 Posted April 21, 2011 i can't am a new employer can't think about buying a property. will buy in future. I was giving suggestions to Rajiv and not you. :wall: The noida part of your last reply was for you. I was saying about Noida Extension/Greater Noida ... maybe be Crosslinks too .. proper Noida is too expensive and too unplanned to invest in residential property as of now
jusarrived Posted April 21, 2011 Posted April 21, 2011 I think you should wait for a few months . Mumbai prices are expected to crash by 20-30 % & even if it dosent there is no way it will go up in the next 1-2 years ..so you have nothing to lose.
yoda Posted April 21, 2011 Posted April 21, 2011 I think I will wait for a mega crash of real estate prices in India which my mom says will never happen in India, but I am not convinced. We do own a primary home in Chennai, but in terms of buying additional investment property I feel that the current prices are way too high to sustain. It is so crazy that my house in Silicon Valley in a pretty good location, with a decent size lot is valued almost same as a small house in chennai in a crowded neighborhood with lot size much smaller than the one in the US. That said, I wish I had bought some property in India 3-4 years ago. :((
ViruRulez Posted April 21, 2011 Posted April 21, 2011 I think I will wait for a mega crash of real estate prices in India which my mom says will never happen in India' date= but I am not convinced. We do own a primary home in Chennai, but in terms of buying additional investment property I feel that the current prices are way too high to sustain. It is so crazy that my house in Silicon Valley in a pretty good location, with a decent size lot is valued almost same as a small house in chennai in a crowded neighborhood with lot size much smaller than the one in the US. That said, I wish I had bought some property in India 3-4 years ago. :(( I can also guarantee that property prices in India will never crash except in selected localities and that too on rare occasions. In India, there are hardly any place to live in especially in the big cities. The demand for property is far more than the available properties due to the ongoing population explosion as well as the economic growth. So, property prices cannot easily crash unless there is some massive problem or natural calamity etc. Your mom is quite right in that case. On one hand, there is hardly any place in India without any humans thronging or even doing kabza over that place. On the other hand, I saw the other day photos of China creating ghost towns one after another and yet those towns are not getting populated and they are waiting for the buildings to get occupied in next 10-20 years. They are creating more supply than demand though their population growth is on the negative nowadays and we on the other hand are lagging a lot behind inspite of a rapid growth. :(( China's population density are quite less compared to India as they are almost four times the land mass compared to India and so that helps them but still they are planning a lot better than Indian govt. China's ghost towns http://www.time.com/time/photogallery/0,29307,1975397_2094492,00.html http://gokatayama.com/2010/11/02/photo-essay-ordos-china-no-longer-a-modern-ghost-town/ http://www.dailymail.co.uk/news/article-1339536/Ghost-towns-China-Satellite-images-cities-lying-completely-deserted.html http://newsflavor.com/world/asia/highways-leading-to-nowhere-ghost-towns-in-china-video-and-photo/ http://www.funonthenet.in/articles/chinese-cities.html We are so called competitors of China but hats off to China in terms of infrastructure planning. :hatsoff:
Show_stopper Posted April 24, 2011 Posted April 24, 2011 I think I will wait for a mega crash of real estate prices in India which my mom says will never happen in India' date=' but I am not convinced. [/quote'] Your mom has the right of it. I can understand why you're expecting the real estate sector to go bust...because it happened in the US,Dubai and even Spain. But here in India the there are 2 components of a property value- one paid in white and the other in black. It is the latter which serves as a buffer against prices crashing in the real estate sector ( banks are very happy loaning out to real estate sector and the asset almost never turns into a non-performing asset. The repayments are punctual because country is full of people who have steady inflow of black money but are incapable laundering it in one go). So the question of US-like situation doesn't arise.
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