Indian Purchase Real Estate In Dubai : Affluent Indians have been increasingly purchasing property outside of their home country in recent years. Global entrepreneurs, professionals, and business owners are looking to diversify their real estate portfolios in international markets such as Dubai. Here’s everything you need to know about buying a property in Dubai as an Indian citizen.

According to recent media reports, Indian businessman Mukesh Ambani recently purchased a beachfront villa in Dubai. The Rs 640 Cr property transaction is said to be one of the most expensive home purchases in Dubai in recent years. The 10-bedroom house in Palm Jumeirah was purchase for his youngest son Anant Ambani. He would live next to another Indian celebrity and Bollywood star, Shahrukh Khan, who also owns a villa nearby.

Are you looking flat for sale in nerul?

This purchase has once again drawn attention to the growing trend of Indians buying homes in Dubai. Better quality of life, tax breaks, and a vibrant globalised culture are all major draws for property buyers in Dubai. The ease of doing business, developed amenities, and well-connected air connectivity have also fueled property demand in this area. Multiple flights between India and Dubai, flown by top carriers, provide connectivity in four hours or less, making air travel convenient.

Can Indian nationals purchase real estate in Dubai?

Yes, Indian citizens can purchase property in Dubai. For several years, Indians have been among the top nationalities investing in Dubai real estate.

Purchasing a property in Dubai is legal under Indian law. The Foreign Exchange Management Act (FEMA), which was passed in 1999, governs such purchases by Indian citizens. A resident can also invest up to $250,000 in properties abroad under the Liberalised Remittance Scheme (LRS).

The introduction of “golden visas” by the Dubai government has increased investor interest in the real estate markets. These visas have relaxed home ownership restrictions for foreign residents of Dubai. According to new property investment rules, investors who purchase real estate worth two million Dirhams or more can apply for a 10-year visa to stay in Dubai.

Where do the majority of Indians invest in Dubai?

While investing in Dubai, Indian investors have expressed a variety of interests. Downtown Dubai, Dubai Marina, and Jumeirah Lake Towers have become popular destinations for Indian High Net Worth Individuals (HNIs) looking to invest in apartments in Dubai.

Palm Jumeirah, Dubai Hills Estate, and Jumeirah Village Circle all offer a diverse range of luxury villa investment opportunities in Dubai. Other micro markets where investors have expressed interest in higher returns include International City and Dubai Silicon Oasis.

What should Indians consider before investing in Dubai real estate?

Indians should try to understand the local norms and rules for purchasing property when investing in Dubai real estate. Because the real estate markets in Dubai are well-regulated and transparent, the process is straightforward.

When buying or selling a home, both parties must sign a Memorandum of Understanding (MOU). This Memorandum of Understanding has also been registere with the local government department.

Farhan Safi, Founder of Revo Realty, continues, “Indians should only purchase property at fair market value and avoid purchasing leftover or overpriced project inventory. Furthermore, the MOU should clearly outline all aspects of a transaction.”

Do you need to keep the Indian government updated on your Dubai property purchase?

Yes, in 2015, Indian citizens were require to disclose their property holdings under the Foreign Assets Schedule and the Black Money (Undisclosed Foreign Income and Assets) Imposition of Tax Act (Black Money Act).

One-third of Dubai’s economy is supported by the real estate market. Foreign residents account for up to 80% of Dubai’s total population. The successful management of the COVID-19 pandemic has increased confidence among international investors. However, before purchasing a property, one should conduct due diligence and only deal with agents who are registere with the local regulatory authority.

3 best Flats For Sale in Mumbai 

Source

You’re looking for Rental Home In Navi Mumbai we have the Best Rental Properties In Navi Mumbai Like Ready to Move & Nearby possession: https://navimumbaihouses.com/property/search/rent/navi-mumbai-all/

If you want daily property update details please follow us on Facebook Page / YouTube Channel / Twitter