The motherland is always attracting to any one in old age. In the young age number of people use to migrate to abroad for earning money, better lifestyle and may be more reasons. In many cases, NRIs sell all the property that they possess and all ancestral property only to settle abroad. Gradually the time comes when the attachment towards the motherland seem to increase. A nostalgic feeling makes them buy a property in India which acts as an abode when they come to India even for a sojourn after two or three years.
During passing their time in abroad they could able to make ample of money and have sufficient amount to invest anywhere in any country. But being India as their mother land they attract towards their own country. NRIs also look for greener pastures for investment and few of them having ample money can invest in the right property and can expect hefty returns from their investment. In that case, if they opt to rent out their property they need the professional services of a Property Management Consultant who can manage their property when they are away.
NRI have other choices to buy a property and a decent dwelling place for the other family members or parents staying in India. By doing this they always keep in touch with their origin country and do not lost their roots. Other benefit by doing that, not only do the family members get a decent place to stay but they also get a shelter when they return to their country India during any time or their holidays or facing problems in other countries because mother land always welcome their children.
Who is an NRI?
A Non-Resident Indian (NRI) is a resident, outside of India in any country went on any kind visa. It may be work permit, work visa, have residential stay in any country according to their Rules and Regulations. Every country has different rules for residential status. An Non Resident Indian (NRI) is an Indian Citizen who resides in India for less than one hundred & eighty two days during the course of the preceding financial year, or. Who has gone out of India or who stays outside India for the purpose of employment, or.
A Person of Indian Origin (PIO) is a person who is a citizen of another country whose father or grandfather had been an Indian citizen but not of Pakistan, China, Afghanistan, Bangladesh, Sri Lanka, Iran, Nepal or Bhutan and is also not regarded as a PIO or if he or she has held an Indian Passport anytime. Similarly, a resident of India who is a foreigner can also buy and sell a property in India without any prior approval from Reserve Bank of India.
