New buildings in India
Location and climate
India (the Republic of India) is a country in South Asia with the capital city New Delhi. It is a member of the UN, WTO, G20. India is boarded by the waters of the Indian Ocean.
The climate is tropical, subtropical, alpine, monsoon, as a result of which periods of the year can be distinguished as:
- sultry and dry (from March to May)
- warm and humid (June to October),
- cool and dry (November to February).
For the attention of investors: economics, education, culture in India
The following sectors of the economy are developed in the country: automotive, food, chemical and cement production, pharmaceuticals, textile industry, consumer electronics, metalworking. Over the past two decades, there has been a steady economic growth, but it is uneven across regions, social groups, in cities and villages. There is still a significant stratification of the population in the country and a fifth of Indians live below the poverty line.
There are more than 500 universities in India, and the technical sphere of education has developed significantly.
The Taj Mahal Mosque is included in the UNESCO list. The world famous cultural heritage is Sanskrit literature, in particular the Vedas. Writer Rabindranath Tagore is a 1913 Nobel Prize winner in Literature.
Special conditions for purchasing an apartment in India from a developer for foreign citizens
Current legislation does not allow foreigners to buy an apartment from a developer in India if they do not have Hindu roots or have lived in India for less than 183 days during the year. You cannot buy an apartment by visiting the country on a tourist visa.
For whom is it profitable to buy an apartment in India in a new building?
India is unique: its palaces, temples, culture and traditions, together with sunny weather and long sandy beaches, is a completely different world. Therefore, tourism is quite well developed here. This is a good reason for those foreigners who are interested in real estate in India in a new building in terms of investment.
Living prices in India are also low, which makes you feel quite comfortable with an income of $500 a month. New properties in India from the developers can be found at low prices, but they have great potential for value growth, given the pace of recovery of the Indian economy. Experts cautiously predict that investment in residential complexes in India will be profitable in two to three years. Three destinations are most popular among foreigners intending to invest in new buildings: the state of Goa (the center of the tourist flow), the capital of New Delhi, the city of Mumbai (the center of financial and business activity). Goa offers a wide range of accommodation, and prices are low compared to the European level. In New Delhi and Mumbai real estate is acquired by specialists who come to the country for work. Prices here are lower than in Europe; they are stable now, but the situation may change.
According to some experts, given the current legislation, the market for new buildings can only be stimulated by citizens or foreigners who come from the country. The sale of apartments from developers can provide for various discounts and installments, the quality corresponds to the construction standards of the country, which is confirmed by reviews of buyers of apartments in the residential complexes.
The lowest cost of the area of an apartment in a new building handed over in black frame condition in Mumbai (according to information from the GEOLN.COM search engine) is 490 USD per sq.m.
Apartment in a new building in India provide for:
- receiving passive income (from rent) in the medium term,
- accommodation in a convenient region of the country on the ocean coast.