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Kerala is indeed the best choice for NRI Malayalees living in US, Europe, Canada, and the Middle East for doing their real estate business. Real estate is one of the fastest growing sectors which always attracts the NRIs.Whenever an NRI plans to engage or invest in real estate in Kerala, make sure that he goes through proper channels. This is to ensure the authenticity of the land. Also, the NRI can go through certain real estate websites so that he could obtain all the necessary details regarding the property viz. flats, homes, villas and apartments.
NRIs in Kerala often get confused with the ever-changing rules and regulations associated with buying/ selling of land properties. The main reason being the lack of information about how to buy/sell the property without the concerned person's physical presence in Kerala. The present rule implemented by the Government made it mandatory for the buyer and seller to be present at the registration office in order to add photos and thumb impressions. The purpose of this was to act as an identification measure so that the fake land registrations can be put to an end. The new procedures made it difficult for the NRIs to involve in real estate business in Kerala. The Government has, however, decided to exempt NRIs from being physically present when selling/buying property in Kerala.
According to the rules and regulations of FEMA and RBI, an NRI is allowed to invest in real estate business. An NRI can invest in the following properties:
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