If you are an NRI looking to invest in India, Mumbai is typically in the lead and for valid reasons. With its fast-paced growth, robust infrastructure, and growing rental yields, Dahisar East in Mumbai, in reality, is fast becoming a prime preference. Whether you want to choose 2 BHK flats in Dahisar East or choosing more spacious 3 BHK flats in Dahisar East, continue reading for your ultimate guide.
- Know Your Eligibility
As an NRI, you can buy residential or commercial property in India – but not farmhouses or agricultural land. You do not need special permission from the RBI if you are investing in approved property such as flats in Dahisar East.
- Choose the Right Location
Dahisar East is a hit for a good reason – proximity to the Western Express Highway, close proximity to metro lines 2A & 7, and well-planned residential complexes make it the ideal choice. Whether buying to live in or as an investment, the location is excellent value.
- Select a Reputable Developer
Always choose RERA-registered developers. Developers such as N Rose Developers are reputed for possession on time and quality construction, particularly in Dahisar East, with high-end projects providing luxury 2 BHK and 3 BHK apartments and international-grade amenities.
- Legal Verification
Verify all property papers – title deed, encumbrance certificate, occupancy certificate, and NOC from respective authorities. It can make things easier if you have a local real estate attorney.
- Understand Home Loan Process for NRIs
All Indian banks have home loans for NRIs. You will need an NRE/NRO account and may need to submit passport photocopies, income proof, and overseas employment documents. Ensure the builder is banker-approved to make disbursal easy.
- Confirm Tax Implications
Income from rent of your property in Mumbai is taxable in India. You will also be liable for TDS if you are selling your property. A tax consultant can help you through cross-border taxation.
- Get Power of Attorney
In case you are unable to personally be present at the transaction, appoint a reliable Power of Attorney holder in India to sign contracts on your behalf.
Final Thoughts With smart planning, buying 2 BHK or 3 BHK flats in Dahisar East – can be a hassle-free and smooth experience. The development in the area, quality of infrastructure, and lifestyle amenities make it one of the new hotspots for NRIs in Mumbai.