Rustomjee Paramount stands strong as a premium residential project in Mumbai and is an attractive investment choice, mainly for NRIs. This is so because the development offers top-notch amenities, strategic positioning and a solid scope for capital growth. Hence, the project can be considered to be one of the best NRI properties in Mumbai.
Let’s explore how Rustomjee Paramount is synonymous with luxury, safety and convenience, making it a perfect choice for NRIs who wish to grow their corpus in a thriving metropolitan city like Mumbai.
Rustomjee’s Legacy of Excellence
Rustomjee is a pioneer in delivering high-quality projects and has become a trusted brand in the real estate segment of Mumbai. The real estate developer has built a rich legacy of brilliance over the last several decades with its residential, commercial and mixed-use projects.
Rustomjee originated in 1999 to build a transformative impact on the urban real estate landscape by providing high-end living spaces. For many years, the brand has progressed from strength to strength, offering remarkable developments throughout the mainstream areas of Mumbai.
Rustomjee has always been ahead when adapting and embracing creative architectural designs that align perfectly with the tastes and preferences of the elite. Our residential projects emphasise sustainable and eco-friendly practices, assuring the highest level of safety and comfort while also contributing towards the overall well-being of the environment.
Investment Benefits for NRIs
NRI properties in India can fetch many advantages and can prove to be a fruitful investment decision in the following ways:
- Strong Capital Growth Potential: The real estate market in India, particularly in metro cities like Mumbai, Delhi and Bangalore, has observed continual growth in property prices. According to a report by RealtyBuzz, these metropolitan areas have seen an average annual property price increase of 15% over the past five years.
Thus, NRIs can reap the long-term benefits and make a lucrative investment choice. Following due diligence and making the correct financial choice can be the key towards connecting with their roots and building a strong financial future.
- Steady Rental Returns: NRIs can get steady rental income from their properties in India. As India continues to witness urbanisation and a growing demand for housing options, rental returns can be a major revenue source of passive income due to its capital appreciation potential that can boost long-term financial growth.
- Investment Portfolio Diversification: Indian real estate investment allows NRIs to diversify their investment portfolio basket in numerous ways, alleviating potential risks by spreading out assets in various markets. This enhances the stability and safety of their overall financial objectives.
- Reasonable Property Choices: Cities like Mumbai are expensive, with prices ranging from Rs.60 lakhs to Rs.10 crore, depending on various factors.
Other evolving places and blooming cities can also provide relatively affordable housing options with decent growth potential, and the price range falls between Rs.66 lakhs to Rs.1,5 crore. NRIs can make the best use of this opportunity by investing in residential and commercial properties.
- Social and Emotional Advantages: For those NRIs who have ties with India, property investment can offer them good emotional fulfilment and a feeling of connection to their home country. Also, it can provide the benefit of having a home to return to as and when they visit India.
- Professional Property Management: NRIs can use property management services for managing aspects related to maintenance, tenant acquisition and other legal formalities on their behalf. This facilitates a smooth handling of NRI properties and offers a hassle-free investment experience, even remotely.
Read Also: Smart Investment Tips: Build Wealth with Luxury Properties in India
Property Management Solutions
Property management solutions are advantageous for NRIs as they are a convenient mode of handling their real estate investments in India without being physically present. Here’s how:
- Can Be Managed Remotely: NRIs can handle their properties from anywhere in the world. Property management services can help with leasing, regular maintenance and tenant selection, thus ensuring that the property is managed correctly even when the owner is not physically present in India.
- Repairs and Maintenance: Routine maintenance and repairs are taken care of, thus preventing the property from deteriorating. Expert property managers ensure that the property is in good condition, which helps safeguard the homeowner’s investment.
- Advertising: Property managers look after marketing the property for selling or renting purposes, thus ensuring it reaches a broad set of masses. This enables NRIs to promptly get relevant tenants or sell the property when required, thus enhancing returns.
Legal and Financial Considerations
NRIs must assess the monetary and legal considerations for a smooth and lucrative transaction. Knowing these vital aspects can go a long way in helping them make well-informed decisions and enhancing returns from the investment.
- Power of Attorney: NRIs often need to execute a Power of Attorney (PoA) to authorise a trusted representative to handle property transactions, sign documents, and manage legal matters on their behalf.
- Compliance with Local Laws: Homeowners must ensure their property adheres to local regulations, zoning laws, and building codes to avoid legal complications.
- Taxation and Reporting: NRIs must comply with Indian tax laws, including capital gains tax, rental income tax, and property-related tax filings. Proper documentation and timely reporting are essential to avoid penalties.
- Property Insurance: It is advisable for NRIs to insure their property against risks such as fire, theft, natural disasters, and unforeseen damages to safeguard their investment.
Read Also: Legal Disputes in Indian Real Estate: A Guide for NRIs
Conclusion
Rustomjee Paramount highlights an unparalleled investment opportunity for NRIs in Mumbai. The project enjoys a prime location, offers elite amenities and has a strong construction record that makes it one of the most secure and lucrative NRI properties.
The future of this project is promising, thus making it a prime contender for those who seek a sound investment avenue in the dynamic real estate market of Mumbai. Check out Rustomjee Paramount, your go-to place for facilitating the best investment decisions and making the right choice.
FAQs
- What are the tax implications for NRI property investment?
NRIs must pay 30% TDS on rental income earned from Indian properties. Capital Gains Tax applies at individual income tax slab rates for short-term gains (property held for less than two years) and 20% with indexation or 12.5% without indexation for long-term gains.
Tax laws are subject to change; consulting a tax expert or referring to the Income Tax Department of India is advisable.
- How does Rustomjee assist with property management?
At Rustomjee, we provide high-quality assistance and personalised insights into property management through our dedicated team of experts. We help you manage tenants, handle maintenance, and conduct routine checks, ensuring your property remains in top condition.
- What documents do NRIs need to invest in Rustomjee Paramount?
NRIs need important documents for investing in Rustomjee Paramount like a PAN card, a valid passport, and a power of attorney (if applicable). Also, they might be required to present bank statements and other relevant financial documents to facilitate the smooth completion of the investment procedure.
