Why Property Investment In Jaipur Is Ideal For NRIs
History gives the evidence at every time that Jaipur also known as Pink City has always been the demanded locations for Kings due to the prosperity, wealth and heritage purposes. The systematic implementation of roads, quality infrastructure, and many others has always been the centre of attraction. Even the modern age town developers and planners are taking the heritage forward and bringing up a new face of Jaipur by building residential apartments, flats, villas, etc. and even new hangout places. There are many latest and some upcoming developments in this city where there are more and more people attracted towards it and as a result of this property in Jaipur is in great demand. Some of the locations like Vaishali Nagar, Malviya Nagar, Jagatpura, etc. at one point of time were very backward areas and now these have become the highly demanded hubs for real estate investors. If you are an NRI and planning to invest your hard-worked earned money in proper way then there are various factors that to be considered in order to help you in your decision making.
Transport and Commutation
There are numerous initiatives like BRTS (Bus Rapid Transit System) connecting the Ajmer Elevated Road, Metro Rail project connecting the major commercial as well as residential sectors, Ring Road project that will connect Ajmer Road to Delhi Road, to Sirsi Road and then to the Agra Road in order to ensure that the heavy machinery vehicles do not enter into the city to create kiosk. Simultaneously, all these will make sure that the transportation whether it is a Public or Commercial should be free from hassles for smoothening of public transport in the city. Moreover, it is this factor due to which people wish to stay near to the commercial areas. Jaipur also has an International Airport which well connected from everywhere with easy transport system, Railway Station and even the Bus Stand also.
Jaipur is famous for its hospitality as well and the various big brands hotels like Marriott, Radisson, Hyatt, Ibis, etc. and multi-speciality hospitals like EHCC Heart Hospital, Mahaveer Cancer Hospital, Fortis, etc. And as result of this, the areas like Malviya Nagar, Pratap Nagar and entire Tonk Road are getting developed for residential purpose.
Since last 6 years the Government of Rajasthan is developing the Special Economic Zone (SEZ) alongwith collaboration of RIICO and Mahindra group near to Ajmer Road (NH8). This nearly 3000 acre area holds some of the big business companies like Infosys, Genpact, MetLife, etc.
Benefits offered to NRI’s
The Government of Rajasthan offers exemption in VAT, CST and GST as part of the RIPS scheme especially for NRI’s. At the similar time RBI has given provisions to ensure that even NRI investors get same rights and opportunities for investing their funds. There is also loans facility especially for NRI’s that can be get from HDFC, LIC or any of the identified financial institution for a time being not exceeding 15 years. The Foreign Exchange Management Act also offering some attractive schemes to invite NRI investors. The Income Tax Department also provides a tax breather under the section 80C for an amount upto Rs 1.5 lakhs.