NorthernSky Premium Flats in Mangalore

Between the Sea and the Ghats, There’s Mangaluru

user — Thu, 28 May 2026 06:39:31 +0000

Between the Sea and the Ghats, There's Mangaluru

There’s a stretch of the Karnataka coast, pressed between the Arabian Sea and the forested hills of the Western Ghats, where everything feels just a little more alive. The light is different. The food is extraordinary. And the sea is right there, always, reminding you that you’re on the
edge of something vast.

Known as Kudla in Tulu, Kodial in Konkani, Maikala in Beary, and Mangalapuram in Malayalam, this is Mangaluru, the coastal heart of Karnataka. A city that carries many names, because many people have always called it home.

Where the Rivers Meet the Sea

North of the city, where the Shambhavi and Nandini rivers pour into the Arabian Sea, the confluence at Sasihithlu creates a steady wave break that has hosted the Indian Open of Surfing five times. Surfers arrive from across the country every season, reading the Arabian Sea like a language they’ve spent years learning. This is Karnataka’s surfing capital, a title it earned quietly, one season at a time.

Beyond surfing, the coast keeps giving. Jet skiing, paddleboarding, parasailing, and kayaking through the Netravati backwaters are all part of what makes this stretch of shoreline so hard to leave.

The Many Colours of Kudla

What Mangaluru carries alongside its coastline is a living cultural identity that few Indian cities can match. The Tuluva traditions of Dakshina Kannada run deep and vivid: Bhoota Kola, a centuries-old ritual that is both spiritually charged and visually striking; Yakshagana, which unfolds spectacularly through the night; and Pili Vesha, a vibrant, high-energy folk dance that takes over the streets.

Kambala turns flooded paddy fields into arenas of speed and mud, drawing crowds that stretch as far as you can see. Monthi Fest, the harvest celebration of the Catholic community, has brought decorated streets and shared tables to the city since 1763. And through Ramadan evenings, long Iftar spreads bring neighbours and strangers together in something unhurried and warm.

The festive calendar here barely stops, and it belongs to everyone.

A Place That Supports Ambition

Beneath the coastal ease, Mangaluru is building steadily. The city has long been home to a strong educational foundation, with NITK Surathkal, Kasturba Medical College, and St Aloysius, among others, drawing students from across the country every year.

Healthcare has grown alongside it. A network of well-regarded hospitals and specialty clinics means quality medical care is always within reach.

The Next Chapter of Growth

The economy is moving too. IT and technology companies have been steadily establishing a presence here, drawn by infrastructure, talent, and a cost of living that makes far more sense than in overcrowded metros.

SEZs, the expanding Mangaluru International Airport, and advancements in road and rail connectivity are making the city increasingly accessible. This is a place that has been building its own case, without needing to announce it.

The Future Feels Closer Here

For those seeking coastal living, the quality of life here offers everything they envision, and then some. Good schools, good hospitals, a pace that doesn’t exhaust you, and a seafront never more than a few minutes away.

Developers like NorthernSky Properties have responded to this growing demand with thoughtfully designed residential spaces. Homes here are being built around the way people actually want to live, reflecting both comfort and the city’s quiet confidence.

Mangaluru takes you by surprise. From the coastline to the streets, the food to the warmth of its people, Kudla is the kind of place that makes you want to slow down and stay. Come to the coast. Stay for the life you always imagined.

Photo Courtesy: Visit Mangalore

Manipal Students of Architecture – Northernsky Case Study

user — Tue, 13 Aug 2024 13:20:00 +0000

Students of Manipal School of Architecture and planning , Visit Northernsky for case study!

We had the distinct pleasure of hosting the bright minds from the prestigious Manipal School of Architecture and Planning, part of the renowned Manipal Academy of Higher Education. As one of the leading construction companies in Mangalore, we were honored to provide our esteemed built facility as a case study for these future architects. The students embarked on an immersive and detailed case/site study, meticulously gathering essential data, crafting intricate sketches, and capturing striking photographs and videos that will serve as valuable resources for their academic and professional growth.

At Northernsky, recognized for excellence in construction across Mangalore, we take immense pride in supporting the next generation of architectural visionaries. This collaboration not only highlights our commitment to quality in construction but also reinforces our dedication to nurturing the talents of tomorrow. We believe that such hands-on experiences are crucial for shaping the innovative architects and planners who will one day redefine the skyline of Mangalore and beyond.

As a leading builder in the region, our commitment extends beyond just constructing buildings; we are deeply invested in fostering the educational journeys of aspiring architects. By providing them with access to our state-of-the-art facilities, we aim to inspire and equip them with the practical insights and experiences needed to excel in their future careers.

Prof Anandhan Srinivasan

user — Wed, 27 Mar 2024 07:00:30 +0000

Impact on Education and Environmental Awareness

Prof Anandhan Srinivasan’s journey is a testament to the power of education, perseverance, and a commitment to making a difference. Born and raised in the vibrant city of Madurai, known as the temple city, Anand’s early life was shaped by the rich culture and heritage of his surroundings.

After completing his schooling, Anand embarked on a path of academic excellence, enrolling in the prestigious Madura College for his bachelor’s program in chemistry. His thirst for knowledge led him to pursue a Master of Science in Applied Chemistry at the renowned Thiagarajar College of Engineering (TCE), followed by a second master’s degree in Polymer Technology at the Cochin University of Science and Technology in Kerala. He was a gold medalist in both BSc and MSc. Anand’s academic journey culminated in a Ph.D. from the prestigious IIT Kharagpur and a post-doctoral research stint at the Inha University in South Korea. Subsequently, he worked as an Assistant Professor of Materials Science in Malaysia at AIMST university.

In 2009, Anand found a home in Mangalore, where he joined NITK as an assistant professor. Over the years, he rose through the ranks, eventually becoming a full professor and even heading the department for two years. His passion lies in applied chemistry, particularly in the realm of materials research and nano-technology. For his excellent contributions to chemical sciences he was admitted as a Fellow of the Royal Society of Chemistry, London in 2021.

Beyond the confines of academia, Anand is a champion of environmental awareness. He uses his platform to educate others about the detrimental effects of plastic pollution and advocates for proper waste management practices. Through lectures, symposia, and conferences, Anand spreads awareness about the importance of reducing plastic use and implementing effective waste management strategies.

Today Anand stays with his family at one of the finest apartments in Mangalore by Northernsky Properties. Anand’s love for Indian classical music and his involvement in the local community highlight his multifaceted personality. As a member of various administrative committees, he actively contributes to the betterment of society, offering constructive suggestions for improvement.

When asked about his transition from Madurai to Mangalore, Anand praises Mangalore’s professionalism and bustling atmosphere. Despite facing challenges such as water scarcity, he believes that Mangalore has the potential to rival larger cities like Mumbai in terms of opportunities for growth and development.

Anand’s journey serves as an inspiration to the younger generation. He emphasizes the importance of channeling one’s energy into productive pursuits, such as reading printed books and engaging in physical activities. He urges young people to embrace education and focus on personal growth, rather than succumbing to the distractions of modern technology.

In terms of waste management, Anand stresses the significance of segregated waste management practices and laments the lack of awareness among the public. He calls for collective action to address the issue of littering and emphasizes the importance of individual responsibility in maintaining a clean and sustainable environment.

Anand’s story is a testament to the transformative power of education and advocacy. From his humble beginnings in Madurai to his impactful contributions in Mangalore, Anand’s journey exemplifies the potential for positive change when passion and dedication intersect.

Navnith Keshav

user — Sun, 03 Mar 2024 06:07:40 +0000

Navigating the HR Landscape at NorthernSky Properties

In the bustling city of Mangalore, where the confluence of tradition and modernity is ever-present, we had the pleasure of sitting down with Mr. Navnith Keshav, the seasoned Sr. Manager – HR & Admin at NorthernSky Properties. With five years of dedicated service to the company, Mr. Keshav shared insights into his professional journey, the challenges of the HR role, and the dynamic landscape of recruitment and employee management.

Early Beginnings and International Exposure:

Mr. Keshav traces his roots back to Mangalore, where he completed his schooling before embarking on a journey of higher education at Aloysius College. However, his professional journey took a significant turn when he decided to explore opportunities abroad. Dubai became his home for four years, where he contributed to a leading recruitment and HR company, honing his skills in office administration and HR roles.

Upon returning to his native Mangalore, Mr. Keshav brought back not only international experience but also a renewed passion for contributing to the local job market. While working, he pursued an MBA in HR, combining practical experience with academic knowledge.

Passion for HR:

During the course of our conversation, Mr. Keshav expressed his early interest in HR, acknowledging it as one of the most challenging yet gratifying roles in any organization. He emphasized the pivotal role HR plays as the bridge between employees and employers, requiring a delicate balance to navigate daily challenges.
“Being a disciplinarian is crucial in HR. You become the role model that others look up to in the company. People observe how you implement changes before they follow suit,” says Mr. Keshav, highlighting the importance of discipline in HR leadership.
He also stressed the significance of interpersonal skills, people skills, and empathy as key strengths for an effective HR professional.

Let’s celebrate the incredible diversity of our planet’s flora and fauna today. Our theme on, “Sustaining People and Planet,” reminds us of the vital role that forests play in supporting both wildlife and human communities.

Message us on – How are you making a positive impact on World Wildlife Day? Share your stories, photos, and pledges below! Let’s inspire each other to protect and cherish our precious wildlife. #WorldWildlifeDay #NorthernskyProperties #ForestsAndLivelihoods #ConservationHeroes #ProtectOurPlanet #BiodiversityMatters

Hiring Philosophy:
When it comes to hiring, Mr. Keshav shared his perspective on the qualities he values in candidates. “Attitude and the hunger to accomplish work are paramount,” he said. While freshers demonstrating a need for employment often stand out due to their determination, for crucial roles, experience and skill set play an equally vital role.

Challenges in HR:
Addressing the challenges in HR, Mr. Keshav identified retaining good employees as one of the toughest tasks. He acknowledged that factors such as financial constraints and growth prospects sometimes make it impossible to retain valuable team members. Finding a suitable replacement in the current scenario, where people often move away for better opportunities, presents an additional challenge.

Advice for Employees:
For employees, Mr. Keshav emphasized the importance of approaching the HR department with personal or work-related issues instead of confiding in colleagues. “There is a reason why companies have HR departments. Even in this age of artificial intelligence, machines cannot predict what a person is thinking,” he said. Encouraging employees to seek support early on helps in finding timely solutions and prevents issues from escalating.

Professional Growth and Personal Interests:
Reflecting on his time at NorthernSky Properties, Mr. Keshav highlighted the invaluable experience of working under pressure, which has contributed to his personal and professional development. Outside of work, he enjoys exploring new places and indulging in the local seafood delicacies that Mangalore has to offer.
Mr. Navnith Keshav stands as a testament to the dynamic and rewarding nature of HR management. His journey reflects the dedication and passion required to navigate the intricate balance between employee and employer, making significant contributions to the growth and success of NorthernSky Properties.

5 Benefits of investing in Under-Construction Flats

user — Sat, 24 Feb 2024 14:30:20 +0000

Unlocking Opportunity: 5 Benefits of Investing in Under Construction Flats in Mangalore

Are you considering diving into the real estate market in Mangalore, India? Whether you’re a seasoned investor or a first-time buyer, exploring under-construction projects could be a game-changer for your investment portfolio. In this blog post, we’ll delve into five key benefits of investing in under-construction flats in Mangalore, while also shedding light on the vibrant real estate landscape and prominent developers in the region.

1. Affordable Entry with Under-Construction Flats in Mangalore:

Mangalore boasts a burgeoning real estate market with a diverse range of properties to choose from. Investing in under-construction flats presents an excellent opportunity to enter this market at a relatively lower cost. With prominent developers spearheading under-construction projects in Mangalore, aspiring homeowners and investors can explore affordable options that align with their budgetary constraints.

2. Potential for Lucrative Returns:

The coastal charm and burgeoning infrastructure of Mangalore make it an attractive destination for real estate investment. Under-construction flats hold the promise of significant appreciation in value as the projects near completion. Investors stand to benefit from capital appreciation, especially in prime locations like Kadri, Bejai, Pumpwell and Kankanady. Keeping an eye on under-construction projects in Mangalore by reputable developers can help investors tap into this potential for lucrative returns.

3. Tailored Living Spaces with Mangalore Real Estate Developers:

One of the perks of investing in under-construction flats is the opportunity to customize your living space according to your preferences. Mangalore real estate developers understand the importance of offering bespoke solutions to discerning buyers. Whether it’s a waterfront view, modern amenities, or eco-friendly features, under-construction projects in Mangalore cater to diverse lifestyle needs. Investors can expect top-notch craftsmanship and attention to detail in every aspect of their future homes.

4. Flexible Payment Options:

Financing a real estate investment can be a daunting task, but under-construction flats in Mangalore offer flexible payment options to ease the burden on buyers. Developers understand the need for financial flexibility and often provide installment-based payment plans tailored to suit varying budgetary constraints. This makes investing in under-construction projects more accessible and manageable for investors, whether they’re purchasing their primary residence or diversifying their investment portfolio.

5. Tax Benefits and Mangalore's Booming Real Estate Sector:

The allure of tax benefits adds another layer of appeal to investing in under-construction flats in Mangalore. Buyers may be eligible for deductions on home loan interest payments under Section 24 of the Income Tax Act, 1961, providing additional savings opportunities. As Mangalore’s real estate sector continues to thrive, fueled by infrastructure development and a burgeoning IT sector, investors can capitalize on this growth trajectory while maximizing tax benefits.

In conclusion, investing in under-construction flats in Mangalore presents a myriad of benefits, including affordability, potential for lucrative returns, customization options, flexible payment plans, and tax benefits. Take the plunge today and unlock the untapped potential of under-construction projects in Mangalore.

Dr. Srinivas Mallya

user — Sat, 24 Feb 2024 14:23:17 +0000

Dr. Srinivas Mallya – A Journey of Heart and Home

Dr. Srinivas Mallya’s journey of 31 Years in the field of Cardiac Treatment is a testament to the pursuit of excellence in both his professional and personal life. Born in Kundapur and raised across various locations due to his parents’ transferable Government job, Dr. Mallya’s early years were marked by adaptability and a thirst for knowledge.

After completing his education, including schooling at surrounding of temple town of udupi and then medical studies at K.M.C. manipal , Dr. Mallya embarked on a remarkable career in cardiac surgery. He underwent specialized training at Apollo, Chennai, and later in New Zealand, honing his skills in heart transplants and pediatric surgeries.In 1998, Dr. Mallya co-founded a cardiac surgery practice in Ahmedabad, where he witnessed exponential growth, eventually performing nine to ten surgeries a day with a dedicated team of surgeons and anesthetists. However, despite his success, Dr. Mallya felt a deep yearning to return to his roots.

In a bold move, Dr. Mallya made the decision to leave Ahmedabad and relocate to Mangalore, his ancestral home. His search for a residence led him to Northern Sky, where he found not just an apartment but a warm and supportive team. Despite being physically distant in Ahmedabad, Dr. Mallya was impressed by the professionalism and hospitality of the Northern Sky team.

With the support of Northern Sky, Dr. Mallya successfully transitioned back to Mangalore, where he now resides with his family. His children, although initially hesitant due to the quieter lifestyle, have come to appreciate the beauty and convenience of their new surroundings.

Reflecting on his extensive medical career spanning over three decades, Dr. Mallya emphasizes the importance of pursuing one’s passion with dedication and hard work. He notes the changing landscape of the medical profession, where some individuals prioritize monetary gains over genuine service.

Despite the challenges posed by the COVID-19 pandemic, Dr. Mallya remains committed to his profession and his community. He continues to advocate for a balanced lifestyle and urges the younger generation to choose their careers wisely, emphasizing the value of passion and perseverance.

In his newfound home in Mangalore, Dr. Mallya has rediscovered his love for music, painting, and travel, embracing a more fulfilling and enriching life beyond his professional endeavors. With a grateful heart and a renewed sense of purpose, Dr. Srinivas Mallya exemplifies the spirit of resilience, dedication, and belonging.

As Dr. Mallya’s journey illustrates, home is not just a place; it’s a feeling of warmth, belonging, and connection nurtured by the people and experiences that shape our lives. In Northern Sky, Dr. Mallya found more than just a residence; he found a home where his dreams and aspirations could flourish, surrounded by a supportive community that feels like family.

Manoj Kumar, Purchase Manager

user — Thu, 22 Feb 2024 16:13:32 +0000

A Journey of Dedication and Growth: Manoj Kumar's 28 Years in Real Estate

Meet Manoj Kumar, a seasoned professional in the real estate industry, hailing from the picturesque town of Kulai. With 28 years of rich experience in the field, Manoj has been an integral part of Northernsky Properties for the last 21 years. Born in 1975, he is the eldest among two sisters and a brother.

Manoj embarked on his professional journey after graduating from Govinda Das College, Surathkal, with a degree in B.Com. His initial steps in the real estate world led him to work in a PWD contractor’s office before finding his place at JV Builders and eventually settling at Northernsky Properties.

Reflecting on his early days, Manoj admits he had little knowledge about documentation. However, with the support of his colleagues and the Managing Director, Dheeraj Amin, he not only learned the ropes but also grew exponentially in his role. “Pressure is common in all jobs and life endeavors, but one should learn how to tackle and move forward,” says Manoj, emphasizing the importance of resilience.

Manoj shares insights into his professional journey, emphasizing the importance of multitasking. While acknowledging the initial challenges, he believes that consistent practice over the years makes multitasking almost second nature.

Beyond his professional life, Manoj finds solace near the beach, where he enjoys leisurely walks and playful moments with his children. He describes these moments as his best time-pass activities. In his leisure, Manoj indulges in his love for Tamil movies, particularly those in the thriller genre. His favorite actors include Allu Arjun and Mohanlal.

When it comes to food, Manoj’s palate favors Neerdosa and green chicken curry. His favorite place to visit is the Mahalingeshwara Temple at Suratkal, citing the positive vibes he receives from the spiritual experience. Dreaming of a vacation, he expresses a desire to visit a snowfall area, a dream yet to be fulfilled.

Asked about his favorite project at Northernsky Properties, Manoj enthusiastically points to Northernsky Palmstreak. He commends the project for its quality, finishing, and prime location. When discussing Northernsky Properties as a whole, Manoj highlights MD Dheeraj Amin’s focus on quality and project finishing, ensuring utmost satisfaction for customers. In essence, Manoj’s journey is a testament to dedication, learning, and the joy derived from both personal and professional pursuits.

Benefits of Living in Luxury Apartments

user — Mon, 05 Feb 2024 06:38:08 +0000

Embracing Elegance: The Endless Benefits of Living in Luxury Apartments

Luxury apartments stand as modern-day marvels, offering residents a lifestyle of unmatched comfort, convenience, and sophistication. From opulent amenities to exquisite design, these residences redefine the concept of upscale living. Let’s explore the myriad benefits that come with calling a luxury apartment home.

1. Unparalleled Comfort and Style:

Luxury apartments are synonymous with comfort and style, boasting high-end finishes, elegant architecture, and spacious layouts. From gleaming hardwood floors to designer fixtures, every detail is carefully curated to create an ambiance of refined living.

2. State-of-the-Art Amenities:

One of the most enticing aspects of luxury apartments is the array of amenities available exclusively to residents. From rooftop pools and fitness centers to concierge services and private cinemas, these amenities cater to every aspect of modern living, elevating the residential experience to new heights.

3. Prime Locations and Stunning Views:

Luxury apartments are often located in prime locations, offering residents easy access to urban conveniences, cultural attractions, and dining hotspots. Additionally, many luxury apartments boast breathtaking views of city skylines, waterfronts, or lush greenery, providing a serene backdrop for everyday life.

4. Enhanced Security and Privacy:

Safety and security are paramount in luxury apartment living, with features such as gated entrances, surveillance systems, and on-site security personnel providing residents with peace of mind. Additionally, the sense of exclusivity and privacy offered by luxury apartments ensures a tranquil living environment.

5. Maintenance-Free Living:

Luxury apartment living often includes perks such as on-site maintenance and management, allowing residents to enjoy a hassle-free lifestyle. From landscaping to repairs, these services ensure that the property is always impeccably maintained, allowing residents to focus on the finer things in life.

6. Community and Social Opportunities:

Luxury apartment complexes foster a sense of community among residents, with social events, fitness classes, and shared spaces encouraging interaction and connection. Whether it’s networking with neighbors or attending community gatherings, luxury apartment living offers ample opportunities for socializing and building relationships.

In conclusion, living in a luxury apartment offers a host of benefits that cater to the discerning individual seeking a lifestyle of comfort, convenience, and elegance. From lavish amenities to prime locations, these residences provide the ultimate urban sanctuary for those who appreciate the finer things in life.

Understanding Karnataka RERA

user — Sat, 13 Jan 2024 14:24:00 +0000

Understanding Karnataka RERA: What Homebuyers Must Grasp

The Real Estate Regulatory Authority (RERA) has revolutionized the real estate sector in India by introducing transparency and accountability. Karnataka, like many other states, has implemented its version of RERA, aiming to protect the interests of homebuyers while ensuring fair practices within the real estate industry. If you're considering investing in property in Karnataka, understanding Karnataka RERA is crucial. Here's what homebuyers need to know about this regulatory framework:

What is Karnataka RERA?

Karnataka Real Estate Regulatory Authority (K-RERA) was established to regulate and promote the real estate sector in the state. Its primary objective is to safeguard the interests of homebuyers, promote fair play, ensure timely project completion, and maintain transparency within the real estate market.

Key Features and Benefits:

Mandatory Project Registration: Builders and developers must register their projects with K-RERA before advertising or selling any units. This ensures that only approved projects reach buyers, reducing the risk of investing in unauthorized or fraudulent projects.

Transparency: K-RERA mandates developers to provide detailed information about projects, including layout plans, approvals, timelines, and financial details. This transparency empowers buyers to make informed decisions.

Standardized Documentation: The authority standardizes the sale agreement and ensures that it includes all necessary clauses, protecting the interests of both buyers and developers.

Timely Project Delivery: K-RERA holds developers accountable for project completion within the stipulated timelines, reducing delays and ensuring timely
possession to buyers.

Escrow Account Utilization: Developers are required to deposit a certain percentage of the project’s funds into a dedicated escrow account. This measure prevents the diversion of funds and ensures that resources are used for the specific project.

How Does It Protect Homebuyers?

Karnataka RERA offers several protections to homebuyers:

Advance Payments: Buyers are protected from paying excessive amounts as advance before the project registration or without proper documentation.
Information Access: Detailed project information, such as approvals, timelines, and financial details, must be provided by developers, ensuring transparency.
Legal Recourse: Homebuyers have the right to approach the regulatory authority for grievances or disputes with developers, promoting swift conflict
resolution.

What Homebuyers Should Look For?

RERA Registration Number: Before investing, ensure that the project is registered under Karnataka RERA. The registration number and details are typically displayed in project advertisements and brochures.

Agreement Clauses: Carefully review the sale agreement to ensure that it complies with K-RERA norms and safeguards your interests as a buyer.

Project Delays and Track Record: Research the developer’s track record regarding project deliveries to assess their reliability in completing projects within stipulated timelines.

Karnataka RERA plays a pivotal role in ensuring transparency, accountability, and protection for homebuyers. It empowers buyers by providing them with
comprehensive information, standardizing processes, and offering a platform for dispute resolution. Before investing in real estate in Karnataka, it’s crucial for homebuyers to acquaint themselves with Karnataka RERA’s guidelines and use them as a safeguard while making property-related decisions. Remember, being well-informed is the key to making a secure and wise investment in the ever- evolving real estate market of Karnataka.

Buying Flats for NRI’s

user — Sat, 13 Jan 2024 14:22:18 +0000

Buying Flats for NRI's

There are many speculations as to whether or not NRI’s can buy property or not and if yes, what type of property, legal formalities etc. the following FAQ’s will definitely make things crystal clear:

1. Who are expatriate or Overseas Indians?

Here is a detailed description of who constitutes an expatriate or overseas Indian.

NRI

A non-resident Indian (NRI) is a citizen of India holding an Indian passport, who has temporarily immigrated to another country (for six months or more) for education, work, residence, or any other purpose.

PIO

A person of Indian origin (or ancestry) either was, or had ancestors who were born in India or other nations of Indian ancestry. A PIO is not an Indian citizen, and is the citizen of another country. He/she was probably once a citizen of India, and later became the citizen of another country.

OCI

A foreign national might have been eligible to become a citizen of India on 26th January 1950, or belonged to a territory that became part of India after 15th August 1947. This foreign national’s children and grand children are eligible for registration as OCI. But they will not be eligible for OCI status if the applicant had ever been a citizen of Pakistan or Bangladesh.

2. Who Can Buy Property in India?

According to the general permission granted by the Reserve Bank of India, NRIs, PIOs & OCIs can purchase immovable property in India.

3. What types of property can NRIs, PIOs & OCIs purchase?

RBI allows purchase of residential and commercial property. It does not allow the purchase of agricultural land, plantation property or a farm house in India.

4. How can NRIs invest in real estate?

According to the regulations of FEMA and RBI, an NRI is allowed to do the following investments in property:

Any immovable property can be purchased by an NRI in India other than any agricultural land, farm house and plantation property.
He can get any immovable property as mentioned above by gift from Indian resident, Indian citizen residing outside India or person of Indian origin.
He can also obtain any property by the way of inheritance.
He can transfer immovable property to any resident of India by sale.
He can transfer any agricultural land, farm house or plantation land to any resident of India by gift.
He can also transfer his residential or commercial property by means of gift to any person either residing in India or abroad or person of Indian origin.

5. How to conduct the purchase procedure?

A sale agreement must be drawn on a Rs 50 stamp paper, which will mention the final amount, advance payment, time limit to pay the due amount and details of installments.

Once the sale deed is completed, you need to get it registered at the sub-registrar or Sub-District Magistrate. The overseas buyer’s foreign address has to be mentioned in the sale agreement. He can appoint a representative in India (with a power of attorney) to act on his behalf. The power of attorney should be notarized with the Indian consulate in the buyer’s country of residence.

The property can be registered in the name of the NRI and the holder of the power of attorney can sign on his behalf by producing a copy of the document to the appropriate authorities.

6. Are NRI/PIO/OCI eligible for Housing loans to buy property from any Indian Bank?

An authorised dealer or a housing finance institution in India approved by the National Housing Bank may provide housing loan to a non-resident Indian or a person of Indian origin residing outside India. For acquisition of a residential accommodation in India, subject to the following conditions, namely:

The quantum of loans, margin money and the period of repayment shall be at par with those applicable to housing finance provided to a person residing in India.
The loan amount shall not be credited to Non-resident External (NRE)/Foreign Currency Non-resident (FCNR)/Non-resident non-repatriable (NRNR) account of the borrower.
The loan shall be fully secured by equitable mortgage by deposit of title deal of the property proposed to be acquired, and if necessary, also be lien on the borrower’s other assets in India.
The installment of loan, interest and other charges, if any, shall be paid by the borrower by remittances from outside India through normal banking channels , i.e., NRO/NRE account in India or out of rental income derived from renting out the property acquired by utilization of the loan or by any relative of the borrower in India by crediting the borrower’s loan account through the bank account of such relative (The word ‘relative’ means ‘relative’ as defined in section 6 of the Companies Act, 1956.)
The rate of interest on the loan shall conform to the directives issued by the Reserve Bank of India or, as the case may be, the National Housing Bank.
A maximum of 80 per cent amount is financed by the financial institution. The rest should be given by the NRI.
The NRI has to repay his principal amount as well as interest part from that similar channel only.

7. What is the tax treatment for income generated from property selling or renting for NRI/PIO?

The mere acquisition of property does not attract income tax. However, any income accruing from the ownership of it, in the form of rent (if it is let out)/annual value of the house (if is not let out and it is not the only residential property owned by that person in India) and/or capital gains (short term or long term) arising on the sale of this house or part thereof is taxable in the hands of the owner.

8. Does NRI/PIO have to file return in India for their property rental income and Capital Gains Tax?

Rental income earned is taxable in India, and they will have to obtain a PAN and file return of income if they have rented this property. On sale of the property, the profit on sale shall be subject to 9 capital gains. If they have held the property for less than or equal to 3 years after taking actual possession then the gains would be short term capital gains, which are to be included in their total income as tax as per the normal slab rates shall be payable and if the property has been held for more than 3 years then the resultant gain would be long term capital gains subject to 20% tax plus applicable cess.

9. Is repatriation of application money for booking of flat / payment made to the builder by NRI/ PIO allowed when the flat is not allotted or the booking / contract is cancelled?

The Authorised Dealers can allow NRIs / PIOs to credit refund of application/ earnest money/ purchase consideration made by the house building agencies/ seller on account of non-allotment of flat/ plot/cancellation of bookings/ deals for purchase of residential, commercial property, together with interest, if any, net of income tax payable thereon, to NRE/FCNR account, provided, the original payment was made out of NRE/FCNR account of the account holder or remittance from outside India through normal banking channels and the Authorised Dealer is satisfied about the genuineness of the transaction.

10. Can one continue ownership of already acquired property after becoming an NRI?

A person who owns a property when he becomes an NRI can continue to hold the property in his name. It is interesting to note here that such resident Indian becoming an NRI is even allowed to continue to own agricultural land, plantation property or farm house which he is otherwise not allowed purchasing after becoming NRI. An NRI is allowed to let out the property, which he owned when he became an NRI without taking any permission from RBI. An NRI is even allowed to get the money sent back outside India after appropriate taxes have been paid in India from rent so received.