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Reasons for NRIs to Invest in Canvas
09 Aug

By Balvinder Singh Kalra

Category: blog

Reasons for NRIs to Invest in Canvas, Wave Estate Mohali No Comments

Reasons for NRIs to Invest in Canvas, Wave Estate Mohali

People may be traveling and settling in different countries/continents but deep within their hearts, they wish to remain connected with their home country.  The best way to secure this feeling of belongingness is to have a home back in India where you can come and stay whenever you want else an option to reap profits from your investment will always be there. 

As per the statistics, when India celebrates its 75th Independence Day in 2022, NRI investments in the real estate sector would be approximately 35% of the total NRI remittances. Also, after the implementation of GST and RERA (Real Estate Regulation Act) things have become more transparent and easy. The NRI’s today are investing in the mid-segment housing projects apart from the luxury segment.

The Indian Real Estate industry has seen a dramatic shift not only among Indian investors but NRI investors too. NRI investors are scouting for more such investment opportunities especially in tier-I and tier-II cities like Delhi, Mumbai, and Chandigarh, etc.  

Let’s have a deeper insight into what makes buying 3BHK in Mohali, Wave Estate an ideal deal for NRI investors.  

1. Currency Benefits

The weakening of rupee against the Dollar, Pound, Dinar, etc has given the right bite of the cherry to NRI investors. The markets after demonetization and GST implementation have turned sluggish which in turn has made it easier for NRIs to buy properties in India at a much cheaper rate. The gap between the Indian rupee and foreign currency has empowered the NRI investors to trade strongly as they get more square feet area in India for the same amount if invested in foreign currency.   

2. Stay Connected, Stay Rooted

Most of the NRIs feel a sense of pride in owning a property back in their home country as it gives them a sense of belongingness. As they stay rooted, they get a lot of strength to grow even more. They can visit India anytime, stay freely and show the rich cultural heritage of their motherland to their family and posterity. 78% of NRI investors opt for investing in Real Estate rather than other assets such as FDs, stocks, mutual funds, etc.  The depreciating value of rupee has significantly reduced the property acquisition cost for the NRIs.    

Read Also: 3 BHK in Mohali- Importance of Separate Servant Washroom & Rest Area

3. Trending Real Estate Scenario

Affordable and mid-segment housing has been drawing the interest of the young NRI investors, as it offers better ROI with easy maintenance and lower investment. The Real Estate industry has seen a global rise in demand for better designed and budget-friendly options in Chandigarh Tricity (Chandigarh, Panchkula, and Mohali).

Canvas, Wave Estate Mohali is working on similar lines to fulfill the respective demands and is offering luxurious 3 BHK builder floors in Sector 85- the fastest developing sector in the Tricity.

4. The Major Concerns

A few of the major concerns for every NRI investor are delays in possession, lack of transparency, hidden cost and the intent of the developer. But with the implementation of RERA, the complete system has become fully transparent and trustworthy. The first choice of almost every NRI is to go for a ready-to-move project rather than parking their money in plots.

We have a sound record in terms of offering complete and fully RERA approved projects with timely delivery.  

5. Income Tax

One of the main reasons which lure the NRI’s to invest in 3BHK flats in Mohali is that there are minimal legal formalities involved. But, in case of any earnings from rental income, it has to comply with the income tax laws.  

It is very important for any investor to enquire about property-related things like registration formalities, expected possession, circle rate, etc.

The circle rate is the minimum rate defined by the revenue departments or government for the sale, transfer, and purchase of any property.   

6. Locational Advantage

Chandigarh and Mohali are one of the well-planned cities of India offering contemporary amenities and uninterrupted connectivity to all parts of the city and major landmarks such as airport, hospitals, Schools, Malls, etc. Canvas is located in sector 85- the heart of Mohali at the foothills of Shivaliks.

Read Also: Importance of Bigger and Wider Balconies in Floors

Final Words

Experience pollution-free living with exquisitely landscaped gardens and 24/7 surveillance. The project is RERA approved and uses top-notch construction materials and fittings totally adhering to your class and status.

Canvas offers 3BHK floors in Mohali with separate servant room and separate bathroom- things which are often overlooked in most of the real estate projects.

 Above are some of the reasons which make Canvas, Wave Estate Mohali a perfect choice for the NRI’s. All the floors are available at the most competitive rates.

The bookings have started and are in full swing. Don’t wait to grab yours! It’s a now or never deal.

For more information and queries, call us at +91-9700197007 or drop an email at info@canvasat85.com.   

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Balvinder Singh Kalra

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