Posted on: 13-11-07 14:35:56
Quote:
Originally posted by hchheda
A very 'cliched' suggestion, dont buy property in India unless you have a very reliable person to look after it...physically present NEAR the property...a security guard is not enough.
All the best!
Hiren
I have the same "Reservation/Fear". May be because I have seen that happening.
If I were to buy in India, I'll get New Condo & nothing else. That too, not without visiting it myself ... But that's Me.
BTW, if you were to transfer money - how much do you think one should transfer in one shot (without raising Flags)?
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Mumbai Maazi Ladki ...
Thanks a lot DIO Jonav & Maharaj. That brings me to my other qs
Quote:
Originally posted by Fido
1. As an NRI , if I purchase property from money not taken to India from abroad , can that money be later repatriated out of India upon a sale subject to capital gains.
2. Which is more likely to give more returns over a span of 5 years ~ a residential apartment in a metro city like Delhi OR land for the same value in a side city like Noida / Gurgaon .
3. As we know sellers expect 50% or more in black to save taxes . But if we pay so then while selling off our capital gains will be much high . Eg purchase a flat for 50 lacs but the transaction is for 25 lacs .Now if I sell it later for 70 lacs and wish to take it abroad my capital gains would be on 70-25 = 45 lacs . Assuming if I also sell it the same way showing 35 lacs as the transaction , can I get full 70 lacs out of India.
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Fido.
Quote:
Originally posted by Fido
1. As an NRI , if I purchase property from money not taken to India from abroad , can that money be later repatriated out of India upon a sale subject to capital gains.
NRO Account ... to convert INR to CAD
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Mumbai Maazi Ladki ...
Yes thats good. But would there be any restrictions of selling property in India and getting the money outside ?
Another Q ~ which is more likely to give more appreciation on a 5yr period - a flat in a metro like Delhi or land in a side city / suburbs ?
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Fido.
Fido,
I don't know the answer for your first question but the second one is a land on suburbs. In 2005 we bought a piece of land on Delhi border sold by haryana govt. (HUDO) or something. My brother did the deal for us. The price is up and my bro was joking with my hubby saying "Malika Sherawat also bought the plot 2 plots from ours, so she can be our neighbour if we plan to build in a home"
Suburbs are expanding faster then we can imagine. Newspapers if you can catch hold of them advertise on new lands specially by govenment.
Jona
