India Mortgage
The market for mortgages in India is currently under developed with the value of mortgages representing just 6% of GDP. However, as India's increasing employment opportunities lead to growing confidence in future earning potential, the India mortgage market is expected to grow considerably.
Since property investment in India is not possible for non-residents of non-Indian origin, mortgages for non-residents are unavailable. However, this situation may change in the future so it is essential to obtain up-to-date India mortgage information from an independent legal expert.
India Tax
Foreign national residents making property investment in India have the same rights as a resident of India for property purchase. However, independent legal advice is essential, particularly when it comes to India tax information. There are several taxes associated with property purchase in India.
Costs for buying Indian property range between 5% and 12% of the purchase price for fees and expenses. India property taxes vary from state to state. Legal fees in India are charged on an hourly basis and cost between US$65 and US$130 per hour.
