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Property Agents in Bangalore

Property Agents in Bangalore

Property Agents In Bangalore, Discover Properties In Bangalore. Deals With Every Aspect Of the Consumers’ needs in Real Estate. We Offer Selling, Buying, and Leasing of Commercial / Residential Properties. Properties are available at your Desired Location to Buy.

Buying property needs more than just information, it takes knowledge and expertise, Bricksandroof Realestate is built upon the same foundation. With the help of our best property consultants, we will help and guide you to identify the perfect suitable property for you and your family.

Property Agents In Bangalore 2
Property Agents In Bangalore

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We assure you to give the best deals with all the reputed and RERA-approved Real Estate Developers.

Property Agents In Bangalore

Are you looking to Buy Property, looking for the best offers In town, then CALL US. Our Real Estate consultation services are aimed to provide you with the best possible property spaces that are available around you.

Top Real Estate Property Developer in Bangalore. Ready To Move & Under Construction Apartment and Villas in Bangalore by the Best Developers in Bangalore.

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FAQs for Non-Resident Indians [NRI]

We give you a lowdown on all that you need to know if you are an NRI wanting to buy a property in India. To begin with, we need to understand the definition of non-resident Indian. Since property purchases are governed by FEMA, we need to go by the definition of NRI as stated in FEMA. According to FEMA, an NRI is a citizen of India who is resident outside India.

Can an NRI buy property in India?

Yes, a non-resident Indian can buy either a residential property or a commercial property in India. Further, there is no limit on the number of residential or commercial properties that an NRI can purchase in India.
Exception: An NRI however cannot buy agricultural land, plantation land, or a farm house in India. He cannot even acquire such property as a gift.
There is, however, no bar on inheriting such property.

Do you need RBI permission?

No. RBI permission is not required to buy residential or commercial property. Contact Property Agents in Bangalore!

How to fund the purchase?

Payment for the purchase of the property can be made either by way of funds remitted to India from abroad through regular banking channels or through the balance in the NRE, NRO or FCNR Account.

What income taxes are applicable on house properties in India?

According to the Indian Income Tax Act, if a person (resident or NRI) owns more than one house property, only one of them will be deemed as self-occupied. There will be no income tax on a self-occupied property. The other one, whether you rent it out or not, will be deemed to be given on rent. If you have not given the second property on rent, you will have to calculate deemed rental income on the second property (based on certain valuations prescribed by the income tax rules) and pay the tax.

Home loans, an option?

Most definitely. The RBI allows NRIs to take home loans for buying property in India. You can also take a loan for repairs and renovations of your home.

What tax benefits are available on home loan repayments?

Under section 24 of the Income Tax Act, the interest on a home loan is deductible from the income from house property to the extent of Rs 1.5 lakh per annum. Further, up to Rs 1 lakh of principal repayment can be deducted under section 80C (subject to an overall limit of Rs 1 lakh of that section).
This interest can be deducted from rental income. In the case of self-occupied property discussed earlier, your rental income will be zero but you can still claim a deduction of interest of up to Rs 1.5 lakh. In such a case, you would have a loss from house property.
The loss can be set off against income from other sources like interest income, capital gains, etc. If the loss is not completely exhausted in a particular year, it can be carried forward for 8 years. That is, you can show the loss in your tax returns for the next 8 years and offset it against other income. But once carried forward, the loss can be set off only against income from house property.

Can an NRI give power of attorney for property purchase transactions?

Yes, in fact, experts recommend that you give a PoA to a person resident in India so that he or she may complete formalities such as registration, possession, execution of an agreement of sale, etc.
A PoA can be given to execute all contracts, deeds, mortgages, leases, sell, and all matters relating to managing the property. However, at any given time, it would be better to give a specific power of attorney to any person, restricted only to a single action such as an only purchase or only for lease. The power of attorney should be executed on stamp paper or as per the requirement of the country where the PoA is executed. You must then get the PoA attested by an authorized official of the Indian Embassy/Consulate/Trade commissioner in that country.

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