Why Invest with Avalon Spaces
in Bangalore?
Bangalore – A Global Investment Hotspot
Bangalore’s real estate market continues to grow robustly, fuelled by the city’s booming tech industry and infrastructural development. For NRIs, investing in Bangalore means tapping into a high-growth economy and securing assets in a city known as the “Silicon Valley of India.” Properties in well-planned developments like Avalon Spaces’ projects have strong appreciation potential and rental demand due to Bangalore’s cosmopolitan population.
Trust & Transparency
Avalon Spaces offers investment opportunities with complete transparency. All project details – approvals, stage of construction, title documents – are transparently shared, ensuring NRIs can invest confidently even from afar. We abide by all legal guidelines and protect our buyers’ interests through proper documentation.
Quality & Timely Delivery
As outlined in our values, we are committed to quality construction and timely handovers, which is crucial for NRIs who may not be on-site to monitor progress frequently. Our track record (backed by the experienced team behind Avalon Spaces) demonstrates reliability – so your investment is in safe hands.
Rental and Property Management Support
If you invest but do not plan to occupy the property immediately, Avalon Spaces can guide you to trusted rental management services. This means your apartment or villa can be tenanted to vetted persons, and maintenance taken care of, ensuring you get rental income without the hassle. Bangalore yields attractive rental returns, making your asset productive.
NRI Special Services
We understand the needs of NRI investors – time zone differences, need for remote paperwork – and have a dedicated NRI helpdesk. We provide virtual site tours (via video calls), periodic construction updates via email/newsletters, and assist with documentation like registration through power of attorney if you cannot travel for the handover.
Legal Guidelines for NRI Property Purchase
Buying property in India as an NRI is straightforward for the most part
but there are key legal points to be aware of:
Types of Property NRIs Can Buy
NRIs are free to purchase residential and commercial properties in India without any special permission. This means you can invest in Avalon’s apartments, villas, or even retail/office spaces if we offer any, just like any resident Indian would.
Taxation
When buying property, an NRI has to deal with TDS (tax deducted at source) if selling later, and also a withholding tax if they are renting out the property. However, India has Double Tax Avoidance Agreements (DTAA) with many countries to prevent paying tax twice. It’s advisable to consult a CA, but briefly:
If you sell the property, the buyer is supposed to deduct TDS (around 20% for long-term capital gains for NRIs) before paying you. You can later file for refund or adjustment when filing Indian tax returns if the tax liability is lower.
If you rent out the property, the tenant should deduct 30% TDS on rent for NRIs, unless you obtain a lower deduction certificate. Engaging a property manager can simplify compliance.
Restricted Properties
Financial Transactions
Repatriation of Funds
Power of Attorney (PoA)
Purchasing Process for NRIs
Explore & Shortlist
You contact us and our sales team provides all necessary info – brochures, floor plans, pricing – via email/WhatsApp. We offer virtual tours (live video from site or model flat). When possible, you or a family member can visit our office/site.
Payments
Follow the construction-linked payment plan. We send demand letters at each milestone. You can remit funds in INR through your NRE/NRO account. Most NRIs prefer NRE accounts because principal and gains are repatriable. Alternatively, if taking a loan, the bank disburses payments as per progress.
Booking
Once you decide, you fill a booking form and pay the booking amount (generally 10% of cost) from your NRE/NRO account or overseas transfer as allowed. We then issue an allotment letter confirming your unit.
Possession & Registration
Near project completion, we’ll invite you for inspection. If satisfied and once the property is ready to occupy and all dues are paid, we proceed to registration of the property in your name. You (or your PoA holder) sign the sale deed at the registrar office. You’ll get the title deed, and we hand over keys. If you cannot travel, your PoA can handle possession formalities as well.
Sale Agreement
We will sign a sale agreement typically upon receiving ~20% of the property value. This agreement will be couriered to you for signature (or signed via PoA in India). It details all terms including payment schedule, specifications, etc. You’ll need to send it back duly signed/notarized. Stamp duty for agreement may be applicable.
After Sales
We offer to assist with setting up your new property – from finding interior designers to getting it furnished if you want to rent it out. Our relationship doesn’t end at sale; we aim to make owning property from abroad as convenient as possible.
FAQ for NRI/Foreign Buyers
Yes, OCIs (Overseas Citizens of India) are treated on par with NRIs for property purchases – you can buy residential/commercial property in India. Just ensure your OCI status is documented. The same rules (no agricultural land purchase, for example) apply.
Avalon Spaces operates under RERA which means your money is safeguarded – 70% of funds go into an escrow account for project development. We cannot divert funds elsewhere. RERA also mandates delivery by the promised date, or we face penalties. Moreover, our reputation and customer trust are paramount – we build that by honouring commitments
If you choose to re-sell before the project is completed, in many cases we allow transfer of allotment (terms apply). There might be nominal transfer fees and the new buyer (also NRI or resident Indian) would step into your shoes. We facilitate this transparently, though usually, the best returns are obtained by holding till completion and then selling on open market.
We provide basic finished apartments (not furnished). However, we can refer you to professional interior designers who have worked on our projects if you wish to furnish for personal use or higher rental yield. For renting, as mentioned, we can connect you to property management firms that handle tenant search, rent collection, etc., for a small fee – so you can earn income stress-free.
These FAQs address typical concerns. More can be added based on common queries: loan eligibility, currency exchange, etc.)
NRI Helpdesk
Phone/WhatsApp:
+91 90000 12345
nri@avalonspaces.com