Hi all,
Do the rules of negative gearing apply to Australian residents buying property overseas? I am an Australian citizen of Indian origin. I would like to buy property in India. I wish to get the loan from an international bank such as HSBC, Citibank etc which is present both in India and Australia. Of course the catch is if negative gearing would still apply to myself. Where can I get clarification regarding this from? Is this possible? I would rent out the property in India of course.
Thanks in advance

Hi Bharat,
Must admit i have financed deals all over the world but India would be a first.

You will not find that either of the lenders you mentioned here in Oz would lend on an Indian security. Possibly if you approached their Indian branch they could give you their policy on FN lending.

It is the same for clients wishing to purchase in the USA and maybe even Citibank or HSBC clients and wonder why they won't lend to them over there.
All the best

Navi Mumbai is fast growing city near mumbai. We suggest you to invest here
and buy property and later mortgage it to get a loan from any International bank
HSBC , CITI Bank etc. Please give your plan for investment. Remeshnk

hello bharat,
Definately you can buy a property in india and can take loan from citibank as most of my overseas clients do.Regarding ur rental income u will be charged corporate tax.But fortunately there are some smart and legal ways to help u out.For frther assistance write me at saurabh8982@gmail.com

Hi,
You should try to get in touch with NRI services of HSBC, Citibank based in Australia or go to their website and find out a contact person who would guide you on the NRI services of these banks.

This is definitely possible.

I am a property consultant, if you looking for any property advice, you can contact me swiftproperty007@googlemail.com

Dear Sir,

You can contact me if you wish to buy property in Ahmedabad at +91 9909009745.

Kirpalsinh Vala

Dear Mr. Bharat, I feel it is too late for me to answer, and by now you would have collected vital information for your queries, I am from Chennai, South India, if you want any help or buying of properties, i can be a trusted person, since i deal in real estate and not doing at randam business only selective. If if you are interested please reply, to me or call me 91 44 42659340 with best regards. R. GANESAN

A person of Indian origin resident outside India may -
* Acquire any immovable property other than agricultural land/farm house/ plantation property in India by purchase, from out of
o Funds received in India by way of inward remittance from any place outside India or
o Funds held in any non-resident account maintained in accordance with the provisions of the Act and the regulations made by the Reserve Bank under the Act.
* Acquire any immovable property in India other than agricultural land / farm house /plantation property by way of gift from a person resident in India or from a person resident outside India who is a citizen of India or from a person of Indian origin resident outside India
* Acquire any immovable property in India by way of inheritance from a person resident outside India who had acquired such property in accordance with the provisions of the foreign exchange law in force at the time of acquisition by him or the provisions of these Regulations or from a person resident in India
* It is necessary for a PIO to purchase property through NRE or NRO accounts. How are housing loans taken out and to be repaid by NRIs / PIOs?
Authorised banks are permitted to provide housing loans to NRIs / PIOs for acquiring residential accommodation in India, subject however, to certain conditions. The quantum of loans, margin money and the period of repayment is at par with the housing loans provided to residents in India; the loan amount cannot be credited to the NRE / FCNR account; it has to be fully secured by equitable mortgage of the property proposed to be acquired, and if necessary, also by lien on the NRI’s / PIO’s other assets in India; the instalment of loan and interest and other charges has to be paid by the NRI / PIO by remittances from outside India through normal banking channels, or out of funds in the NRE/FCNR/NRO account in India. In the last case, the loan and interest can also be repaid out of the rental income of such property.

hi, nancyarora is absolutely right..and nowadays indian real estate market is booming up.and lots of nri's are taking interest in investment, i have also invested in mumbai near nariman point and its a very beautiful place to live, at that time i messed up with some wrong dealers but thank god i came out from it.but i will advice you if you want to invest in india please collect some good knowledge about it and then go for it..
use window2india dot com here in property section you will find many useful tips about property investment and other helpful thing like options for NRI's to invest. hope you will get all your problems to be solve here..

Good Day

yes, Inida is first in investing by lot's of investers now-a-days due to it's enormous growth in the IT sector. There are lot's of investiment options were opened to all of the investores in the Indian markets like investing in real estate, in stocks, in shopping malls, in ventures, amusement parks, restaurents etc. Most of the investores proved to be profitable investing in India.

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