Thread: Serve the NRIs

With changing times people of Indian origin, even second generation NRIs, are opting to purchase vacation homes near their relatives' residence as they want to be independent during their stay in Kerala and not stay with kith and kin. This trend has pushed up the demand for flats in major cities like Kochi, Thiruvanathapuram and Thrissur. Apart from residential Kerala flats and apartments, many NRIs are buying into commercial properties in suitable locations.

Cochin, the commercial capital of Kerala, is one of the fastest growing cities in India. Modern skyscrapers, posh residential colonies, and bustling commercial complexes can be seen along with lush greenery and backwaters.

With many residential complexes being planned in the region, Cochin is looking forward to serve the NRIs who have the taste and aspiration to lead a luxurious life in their hometowns. The NRIs who want to invest in property in Cochin are also catered for.

Cochin has welcomed many cultures in its shore and has assimilated a number of these cultures over the centuries. As the land of cultural diversity that nourishes every culture, it offers an opportunity to lead any lifestyle in terms of values, opulence, luxury et al.

With the Reserve Bank of India FDI ruling, and India government’s relaxing the real estate and property rules real estate dealings have become an easier for NRIs.
Some of the measures that the govt. has taken are:

• Allowing FDI in the real estate industry
• 100% repatriation allowed for NRIs investment in the country
• Relaxed property tax
• Less stamp duty if the property is registered in the name of a woman
• Abolition of Section 37(i)
• Tax reforms designed to drive investments in the housing sector

To a great extant, this has led to the current trend of real estate boom in India.