INVESTMENT OPPORTUNITIES FOR NRIS IN CHENNAI

We understand your requirements better, and are here to answer your questions.

Dear NRIs, if you are looking to invest in a property in India, or if you are looking to return home, you are on the right page. Stepsstone is Chennai’s most sought after property developer. Here, you’ll find the perfect mix of residential properties to cater to your specific needs, in terms of location, type of development and budget. We’ve created this section on our website especially for you, in order to answer questions that you may have pertaining to property investment in India.

We understand the requirements of our NRI clients and provide real estate solutions that fit their needs. Our aim is to bring our products closer to you so that you can choose better.

Home Loans

  • The applicant must be an Indian passport holder.
  • Loan amounts are available up to Rs 1 crore (or 85%) of the cost of the property, whichever is lesser. Processing and administrative charges extra.
  • Loan eligibility is decided by the repayment capacity of the individual. Repayment capacity takes into consideration income, age, qualification, number of dependents, other income, amounts and a few other items.
  • Between 5 and 10 years, rates of interest vary from 7.75% to 9%.
  • Repayment period ranges from 5 to 20 years or on superannuation or on completing 60 years of age.
  • The loan is repaid in the form of Equated Monthly Installments (EMIs). The security for the loan would be the equitable mortgage of the property financed. This is created by the deposit of the original title deeds of the property with the HFI.
  • Local guarantors will also be required in the case of a few institutions.
  • Copies of the following documents have to be submitted along with the application for the loan to the institution.

Employment contract

  • Latest salary slip
  • Latest work permit
  • Visa stamped on the passport
  • Power of Attorney to a local individual
  • Receipt of payments made for purchase of the property
  • Agreement of Sale

Interest rates and EMIs are subject to change without notice. Check with the financial institutions for prevailing interest rates. A salaried applicant should be abroad for at least a year, and a self-employed applicant for 3 years.

Tax Implication

We understand your requirements better, and are here to answer your questions.

Dear NRIs, if you are looking to invest in a property in India, or if you are looking to return home, you are on the right page. Stepsstone is Chennai’s most sought after property developer. Here, you’ll find the perfect mix of residential properties to cater to your specific needs, in terms of location, type of development and budget. We’ve created this section on our website especially for you, in order to answer questions that you may have pertaining to property investment in India.

We understand the requirements of our NRI clients and provide real estate solutions that fit their needs. Our aim is to bring our products closer to you so that you can choose better.