NRI Corner

Sub-Header 1: Largest Market Share

The Mumbai Metropolitan Region is the largest real estate market in India compared to other key regions and is larger than Bengaluru and NCR combined. Mumbai has one of the highest commercial rental yields in the world.

Among 34 global cities rated by Knight Frank in their Global Cities 2018 Report, Mumbai ranks third – ahead of global financial hubs like Singapore, Hong Kong, New York, London and Beijing. In other words, buying a home in Mumbai might well be your best investment decision.

Sub-Header 2: India's Financial Centre

Mumbai is the financial hub of the country, generating approximately 6.2% of India's total GDP and accounting for approximately 30% of total FDI inflows in India. 24 of the 58 Indian companies to feature on the Fortune 2000 list for 2017 are headquartered in Mumbai. 11 of the 22 banks to feature on the list have their head office/ corporate office in Mumbai.

Source

Fortune 2000 for 2018

Chandak Group believes in the business of developing communities that are self-sustaining, safe and peaceful. Our homes are designed to nurture families and allow life to unfold in all its beauty and joy. The idea of bringing people together from various walks of life excites us and gives us the enthusiasm to create vibrant neighbourhoods.

This foundation of trust has helped us reach greater heights at an accelerating pace. In the last four years alone, we have constructed and delivered 4.2 lakh square feet of residential space with occupancy certificates.

An Indian citizen 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. (Persons posted in U.N. organizations and officials deputed abroad by Central/ State Governments and Public-Sector undertakings on temporary assignments are also treated as non-residents). Non-resident foreign citizens of Indian origin are treated at par with non-resident Indian citizens (NRIs).

A person of Indian origin means an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan) who: held an Indian Passport at any time, or whose father or paternal grandfather was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955

The Overseas Citizenship of India (OCI) is an immigration status permitting a foreign citizen of Indian origin to live and work& in the Republic of India indefinitely

Yes. NRIs can buy and sell residential and commercial properties in India

There is no restriction on the number of residential or commercial properties an NRI can own in India. However, the law restricts NRIs from purchasing any kind of agricultural land/ plantation property/ farm house in India.

The documents including but not limited to the below will be required for an NRI to purchase a property in India:

• PAN card (Permanent account number)
• OCI/ PIO card (In case of OCI/ PIO)
• Passport (In case of NRI)
• Passport size photographs
• Address proof

Yes, the Reserve Bank Of India has granted general permission to NRIs to acquire or dispose of NRI India Properties by way of gift from or to a relative who may be an Indian citizen or a person of Indian origin (PIO) whether resident in India or not.