if you are serious contemplating an investment in a home, take a stock of your expenses and chalk out a plan to meet your property budget. Allocating a property budget will require long term planning.

Take a good look at the location and the locality. It is better to try a place adjacent to the prime location of your city so that the price is not that high. Location will also have a large impact on the resale value of your home. Choose wisely and your home may be your best investment.

Home loan eligibility depends upon the repayment capacity, income, existing loans or debts and age of the loan applicant.

This is an important expense or tax, much like the sales tax and income tax that are collected by the Government. When planning your budget for property buying, factor in stamp duty and registration expenses too.

Apart from the price of the property, there are several other charges that one has to pay when one invests in a home. Find out how much is the maintenance charge. Will car parking be provided and do you have to pay extra for it.

Ensure that the property is located in an ideal location with good connectivity. Investing in property that can be easily reached to and from destinations like the airport, railway station, bus stop, etc is ideal and recommended.

Neighborhood amenities is one of the important things you should consider before investing in a property. Include the proximity to schools, hospitals, banks, shopping centers, restaurants, entertainment facilities and parks.

There are tons of questions a property buyer should ask a builder. The more you know or communicate to your builder, the happier you will be at the end of the project.

: If you are planning about investing in a rental property, homes in high-rent or highly populated areas are ideal. Knowing the rental rate in the area helps you to choose the right property and location.

Resale Value is an important thing to consider before you plan to invest or buy a property. Property buyers never consider resale value when they buy.

It is a tax, similar to income tax, collected by the government. Stamp duty is payable under Section 3 of the Indian Stamp Act, 1899. Stamp Duty must be paid in full and on time. If there is a delay in payment of stamp duty, it attracts penalty

A stamp duty paid instrument / document is considered a proper and legal instrument / document and has evidentiary value and is admitted as evidence in courts. Document not properly stamped, is not admitted as evidence by the court.

Many states have simplified the payment procedure. For example in Maharashtra, one can pay the stamp duty online as the government has recently announced linking of all sub-registrar offices across the state for easy payment. Otherwise, stamp papers, equivalent to the value of the stamp duty, should be purchased in the name of one of the parties involved in the transaction. The amount will be paid at the sub-registrar office of the jurisdiction on or before the execution of the sale deed.

Non Resident Indians can make investments in India in consonance with Indian law, RBI rules and regulations as well as other regulations set forth by the Foreign Investment Promotion Board (FIPB). NRIs can make up to 100% equity investment in real estate sector and the nation's civil aviation sector. Further, all investments, except for the real estate investments, are fully repatriable. For real estate investments, the lock-in period on original investment is 3 years

Reserve Bank has granted general permission to certain financial institutions deals in housing finance to grant housing loans to non-resident Indians for acquisition of houses/flats for self-occupation subject to certain conditions.

One can get a Home Loan of up to 85% of the total consideration value.

NRIs are required to file a declaration in form IPI 7 with the Central Office of Reserve Bank at Mumbai within a period of 90 days from the date of purchase of immovable property or final payment of purchase consideration along with a certified copy of the document evidencing the transactions and bank certificate regarding the consideration paid.

Yes, Reserve Bank has granted general permission for sale of such property. However, whether the property is purchased by another foreign citizen of Indian origin, funds towards the purchase consideration should either be remitted to India or paid out of balance in NRE/FCNR accounts.

Yes. Reserve Bank has granted general permission to foreign citizen of Indian Origin to acquire or dispose of properties up to two houses by way of gift from or to a relative who may be an Indian Citizen or a person of Indian origin whether resident in India or not, subject to compliance with applicable tax laws.

Yes. Under the general permission granted by Reserve Bank properties other 'than' agricultural land/farm house/plantation property can be acquired by foreign citizen of Indian origin provided the purchase consideration is met either out of inward remittance in foreign exchange through normal banking channels or out of funds from the purchaser's NRE/FCNR accounts maintained with banks in India.