Sales :
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5-Year Warranty on Real Estate
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"I decided to book a flat with the Gera Project coming up in Baner because – I wanted a spacious flat and the area of 1600 sq/ft is very attractive. The layout of the house is also very good. I like the spacious bathrooms and the utility rooms that are provided. The project is nicely situated. Just a little inside from the main Baner road without ..
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"I decided to book a flat in Emerald city, Baner, because of it’s good layout and design. I really liked space utilization done with underground parking which leaves a lot of open area for children playground. The design of the flats is also good with lots of privacy for each flat and good room layout. Baner is a good choice to take flat in with A..
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"I found the entire team of Gera Developments totally professional in their approach. Each of the persons knew their jobs, which made things most convenient for us."..
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"… like any other Indian middle class family whose dreams are bigger than their earnings, we were wary of the cost and the trust as we ventured to invest in an apartment. We were quite sure we would be unable to settle our above two concerns in one single project. That was till we met Gera. Not only did we find their Astoria well planned but also ..
Repatriation
Repatriation is the transfer of funds from India to your account overseas. If you are planning to buy a property in India with your overseas funds then the funds can be remitted to your Indian account. And while selling the property, the funds can be transferred to your account overseas.
Ways for Repatriation:
NRI accounts-
- RFC account (Resident Foreign account): This account is available for those Indians who are permanently returning back to India.
- NRE (Non-Resident External Account) account (Savings/Current/ Fixed Deposits): This does not require prior permission from RBI. Many banks offer this facility.
- FCNR (Foreign Currency Non-Resident Account) (Deposits): FCNR Deposits are fully repatriable and the entire deposit is exempted from tax.
- NRO account Non-Resident Ordinary Account(Savings): NRO deposits are not repatriable (principal) except on current NRI income like rent, dividend, pension, etc. and remittances indicated under "Repatriation of NRO Funds" only after payment of taxes due in India. Interest is freely repatriable.
Terms and conditions for Repatriation:
- Repatriation should be done via 'authorized person'.
- Income earned out of interest, dividends, rent, from any type of deposit, investment or properties is allowed for repatriation.
- Property against which remittance is sought should be acquired in accordance with the provisions of foreign exchange law in force and should be according to the laws.
- Repatriation is allowed only after obtaining special permission of the Reserve Bank of India on specific reasons such as adversity and subject to conditions as specified in the permission.
- Documentary evidence in support of acquiring the funds proposed to be remitted should be produced.
Legacy and Bequest:
- NRIs/PIOs are permitted to repatriate the funds held in their NRO A/c up to US $ 100,000 a year where sale proceeds of immovable property held by them for period of not less than 10 years is subject to payment of taxes. If the property is sold within 10 years remittance can be made, only if the sale proceeds have been held by the NRI/PIO for the balance period in an NRO Account. Such NRIs are exempted from RBI permission.
- Any NRI holding immovable property in India, who does not match the eligibility criteria, mentioned in the above clause require RBI permission to repatriate property's sale proceeds.
*Disclaimer- Data provided above is strictly for informational purposes only. We do not make any claims on accuracy of information.
