It pays to invest with us
Real estate is an investment that comes with great tax benefits! Wish to know what are the various tax benefits you get when you invest with Clover Realty? Read through the document to get a clear idea.Read More
Taking Dreams Through Distances!
In today’s world, distance should never come between your dreams. We help you live with the times. Read through the document to get a good idea about regulations for NRIs buying property.Read More
Lending you a hand with your loan
Besides committing to quality, we extend a friendly hand to our customers by supporting them with all necessary documents to avail a loan. Go through the list of necessary documents while preparing to apply for a home loan.Read More
- Pay Order
- Banker’s Cheque
- Wire Transfer
- Whether NRI or PIO (Person of Indian Origin)
- Residential status
- Passport details
- Complete postal & permanent address (local or overseas, as applicable)
- Name, address & account no. of customer’s bank
- held an Indian Passport at any time, or
- who or whose father or paternal grandfather was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955
- Maintenance of bank accounts in India
- Investments in securities, shares and deposits with Indian firms/companies
- Investments in immovable properties in India
- Non-Resident Indian (NRI) – that is a citizen of India resident outside India
- Person of Indian Origin (PIO) – that is an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan), who
The general permission, however, covers only purchase of residential and commercial property.
- At any time, held Indian passport, or
- Who or either of whose father or grandfather was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955).
Can NRIs obtain loans for acquisition of a house/flat for residential purpose from financial institutions providing housing finance?
The Reserve Bank has granted some general permission to certain financial institutions providing housing finance like HDFC, LIC Housing Finance Ltd., etc. and authorized dealers to grant housing loans to NRI nationals for acquisition of a NRI house/flat for self-occupation subject to certain conditions. Criteria regarding the purpose of the loan, margin money and the quantum of loan will be at par with those applicable to resident Indians. Repayment of the loan should be made within a period not exceeding 15 years, out of inward remittance through banking channels or out of funds held in the investors’ NRE/FCNR/NRO accounts.