INVESTMENT TIPS FOR NRI

The demand in the real estate sector in Andhra Pradesh is fuelled not only by the resident Indians, but also the NRIs. Andhra Pradesh is one of the top five states in the country with a large portion of its population living abroad. Many NRIs invest in residential properties in the state, primarily in Vizag. Vizag is among the fastest-growing cities in India as well as the major economic hub of Andhra Pradesh, with modes of transportation that seamlessly connects the city to the rest of India. If you’re an NRI looking to invest in Vizag, it is important to take certain factors into consideration in order to select the right property.

Examine the developer’s reputation and standards

For NRIs, it is always essential to verify the track record and reputation of the developer for trust and transparency. Reputed developers always have the right credentials, permission for construction and also build properties in accordance with the law. Most importantly, they would be registered under RERA, thereby leaving no scope for any foul play.

Consider these tips while investing in the Vizag real estate market.

LOOK FOR THE RIGHT LOCATION

When deciding whether to invest in Vizag real estate, consider the strategic location. Examine the locality for the possibility of emerging industries, proximity to the airport, transport centres and industrial hubs. A combination of social infrastructure and greenery is a winning combination. The major areas in Visakhapatnam to invest in are Madhurawada, P.M.Palem, Yendada to the north, Seetammadhara, Akkayyapalem, Murali Nagar in the heart of the city, Gajuwaka, Pendurthi and Anakapalle to the South. All these areas are located within a radius of just 50 km, making transportation convenient. Both the IT SEZs and the industrial areas are at opposite ends of the city, providing an ideal environment for employees to buy a property closer to their work places.

CHOOSE A GREAT LIFESTYLE

While choosing a property, look for the ones that offer amenities that match your lifestyle. Some of the amenities that are common to most Vizag properties include recreational facilities, swimming pool, clubhouse, gymnasium and more. And then, there are premium gated communities that go a notch higher and offer ultra-modern comforts, a cosmopolitan environment and amenities that are at par with the best in the world. So, take your time, look at all the options available before investing in a home.

TAKE A GREENER APPROACH

Recent years have seen a rise in sustainability concerns, as protecting the environment and reducing carbon emissions have soared to the top of the public’s agenda. Due to the rising environmental concerns and public awareness, homeowners across the world are relocating to properties that are environment friendly. Vizag’s real estate market is also waking up to the green building concept and construction processes. Projects in the city are distinguishing themselves by integrating eco-friendly measures including waste management, rain water harvesting etc.

Also find a comprehensive guide for NRI Home Buyers here

Download the RBI NRI GUIDELINES