NRI Corner

Nature Lifespace LLP

• Welcome to the NRI zone of Nature Lifespace LLP. We offer entry level affordable homes in urban centre’s, premium and mid-segment residences in Metros & Large cities and wholesome urban ecosystems focusing on Livelihood, Living and Life.
  Detail oriented design & planning that improves usability, consistency, and desirability of all our offerings. Several thousand Indians have made smart investment decesion and have become owners of our award-winning projects, across the country. We invite you to join them by adding Nature Lifespace LLP to your life.

• Nature Lifespace LLP pioneered the concept of integrated cities designed to create a balance between Livelihood, Living and Life. These integrated urban centers are located near existing metros and comprise of Residential units, SEZs, Industrial Parks, Retail and Social Infrastructure. At full stage of development, it envisions to generate direct employment for more than 2,00,000 people. The Lifestyle Zone, located alongside the Business Zone, offers residences, schools, medical centers, retail malls, business hotels, recreation and leisure facilities, and wide open green spaces for a clean, healthy environment.
• Legal Information
• NRI CORNER
• At times, navigating the legalities of a new home purchase can be a daunting task. To make the process easier, we have compiled the basic legal considerations of acquiring a property in India. Additionally, you can get in touch with us with any specific queries. Non-resident Indians holding an Indian passport do not require any permission from RBI to acquire an immovable property for bonafide residential purposes.
• Non-resident Indians holding an Indian passport may pay the purchase consideration either by remittance of funds from abroad through normal banking channels or out of their NRO/ NRE/ FCNR account. Ensure that the title report of the property contains no conditions written in fine print and that there are no specific reservations by the State Government.
• Look for specific clearance reports. Whether the Project approved by HMDA, OR DTCP, RERA(if applicable). The idea is to ensure that you do not get stuck with a property that is or may get caught in any sort of a dispute. Lack of clearance of titles also means that you will not be able to avail home loans.
• Loans for NRI
• The Non-Resident Indians (NRIs) are recognized under the Foreign Exchange Regulation Act, 1973. Every bank and housing finance company follows the RBI guidelines to define an NRI – “An Indian citizen who holds a valid document like an Indian passport and who stays abroad for employment or for carrying on business or vocation outside India or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is an NRI.”
• Broadly categorized, Non-Resident Indians qualifying for NRI housing loans are: Indian citizens who stay abroad for employment or for carrying on business or vocation outside India or for any other purpose in circumstances indicating an indefinite period of stay abroad Government servants who are posted abroad on duty with the Indian missions and similar other agencies set up abroad by the Government of India, where the officials draw their salaries out of Government resources Government servants deputed abroad on assignments with foreign Governments or regional/ international agencies like the World Bank, International Monetary Fund (IMF), World Health Organization (WHO), Economic and Social Commission for Asia and the Pacific (ESCAP)Officials of the State Government and Public Sector undertakings deputed abroad on temporary assignments or posted to their branches or offices abroad Documents required for Resident Indians and NRIs for getting home loans are different in some respects.
• Home loans for NRIs are available for Purchase of Plots approved by HMDA OR DTCP and RERA, construction of new houses/ flats, purchase of old house/ flat addition/ alteration to an existing house and repairs/ renovation etc. NRIs can avail of loans by mortgaging an existing residential property.
• However, for availing home loans, NRIs have to fulfill certain conditions, according to the provisions of the Income Tax Act. They should have stayed in India for a period of 182 days or more within an assessment year or they should have stayed in India for at least a total of one year or more. The FDI policy that permits FDI up to 100% from a foreign/ NRI investor under the automatic route has boosted NRI confidence.
• Banks have attractive NRI housing schemes to accommodate the housing needs of NRIs. From the stables of HFCs, NRI housing finance plans with suitable repayment options are available. Last but not the least, NRIs should take due care while selecting their home loan provider companies or HFCs.
• Considering the geographical distances involved, it is significant that loan seekers associate with a proactive and responsive HFC.