Express hot tips: Realty hotspots abroad
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Points to remember
Research the property laws, legal issues in that country, the particular city, especially concerning non-residents and non-citizens. Do factor in the frequency of travel to the city and check the residential formalities and regulations that will be effective once the property is yours. Go through a well-known and recognised property dealer/ firm which has offices in India, the location in question, as well as other places abroad. Research exchange rates, viable discounts, bargains and modalities of fund transfers and tax implications in that country.
Be it for the purpose of a second home or for children during studies abroad or even a holiday getaway, buying property abroad is no longer a distant dream. All you have to do is choose carefully and explore well before taking the final decision.
— The author is MD, Chintels India
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