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Flats in India vary significantly in characteristics and location convenience. Overseas buyers can choose the best property in India from over 7 options on our website. Considering the purpose of the purchase, budget and individual preferences, you can easily find options in the primary or secondary market using filters, sorting features, an interactive map and detailed descriptions. Each property is presented in its current condition at the time of sale and you can view the cost of apartments in India in dollars, euro and other currencies.
The listings include the seller's contact information, so there’s no need to delay preparing for the deal. Buyers can simply message the developer or the agency privately or contact them by phone.
- Minimum cost of apartments in India: USD 31600
- Most expensive apartment: USD 4,1 million
- Minimum size: 650 m²
- Maximum size: 812 m²
Foreigners have the opportunity to visit the country as tourists before buying a home and obtaining an electronic or regular visa for 90 days or 180 days. Afterwards, they must address legalisation, which can be done through one of the following methods:
- Establishing one's own business: a labour-intensive, financially costly and time-consuming process;
- Investing in the national economy: an excellent choice for those with USD 1,5 million in available capital willing to invest in a public or private company;
- Enrolling in one of the local universities on a contractual basis;
- Employment at an Indian company: Due to the shortage of qualified workers, vacancies are not difficult to find.
The opportunity to buy a flat in India and become its full owner is only available after obtaining the status of a resident. The initial residence permit is granted for one year with the possibility of multiple extensions. Applicants for the permit must prove their intention to stay in the country for an extended period.
Apartments in India
At the beginning of 2024, experts estimated the volume of the Indian real estate market at USD 227,26 billion. Over the next five years, we can expect its growth to more than double, with an average annual growth rate of 24.77%. This rapid development is facilitated by several factors, including:
- Affordable price of an apartment for sale in India, compared to offers from European and American developers;
- A significant increase in the number of new projects as the market actively rebounds from the pandemic. In the first six months of 2022 alone, 160,806 apartments were put up for sale, marking a 56% increase from the previous year;
- Expansion of investment opportunities for non-residents, in particular, the emergence of REIT funds;
- Rapid urbanisation, with both locals and expats seeking to relocate to megacities;
- Technological transformation, making it easier for buyers, including foreigners, to formalise ownership and manage real estate;
- Support from the government and banking sector.
Buying an apartment in India entails resolving the issue of a residence permit. Reasons for issuance may include employment, establishing a company, enrolling in a university on a contractual basis or investing USD 1,5 million in the Indian economy.
The terms of the transaction are negotiated either in person or online. Following this, the stage of verification of documents ensues, during which both parties have the right to involve their lawyers. It’s mandatory to pay taxes, ensure compliance with RERA regulations (especially when investing in a building under construction) and obtain a “No Objection” certificate. If everything is in order, the parties sign the contract, with the buyer transferring the agreed-upon amount and registering the ownership.
Reasons for investing in an apartment in India
Purchasing apartments in India for investment can be lucrative, provided one makes a successful choice of location, property and seller. Recent trends suggest that offerings in new buildings in Mumbai, Chennai, Kolkata and other metropolitan areas hold more promise. These areas attract a significant number of tourists, ensuring potential earnings on short-term rentals, as well as catering to expats seeking long-term rentals. Major developers such as LT Realty, Phoenix Mills, Godrej Properties, Omaxe, Prestige Estate and DLF (comprising 25% of the offerings) provide a variety of options for investors with different goals and financial capabilities.
Rental yields on real estate in India are slightly lower compared to European and Asian countries. Owners can expect around 3% per annum after tax deductions. However, it’s important to consider that maintenance costs, especially in prestigious complexes, can be expensive. This is because when earning rental income, the property is equated to commercial property, which increases utility rates.
The highest profitability is observed in Kolkata (3.96%), Bangalore (3.45%) and Ahmedabad (3.22%). In the long term, owning a property in a metropolitan area is preferable. While the initial costs may be substantial, they are offset by the quality of housing, developed infrastructure and the potential for renting to expats with higher incomes rather than locals.
Alternatively, foreigners can consider collaborating with REITs, although currently, such funds primarily focus on commercial properties and office space.
When selecting local apartments as an investment, consider the following factors:
- Rental costs increase disproportionately even within the same locality. For example, in the suburbs of Mumbai, there was only a 6% increase over five years, whereas in prestigious locations, it reached 16%;
- Expats typically prefer spacious units in safe neighbourhoods, while tourists prioritise proximity to attractions and beaches (if we are talking about coastal resorts);
- Acquiring housing, when applying for a residence permit as per regulations, is not difficult. You can view various options on both the primary and secondary markets online.
Buying apartments in India
Utilising our database significantly reduces the time and effort required to find suitable housing, enabling you to purchase on the most favourable terms. You can specify the desired area, number of bedrooms and bathrooms, location features, amenities and apartment prices in India and then explore the suitable options.
Descriptions and photos provided by verified developers and agencies ensure you receive detailed and up-to-date information before making a decision. We also offer sorting, comparison and the ability to explore locations on the interactive map. Additionally, there’s a built-in converter to display the price of apartments and houses in India in the desired currency.
To discuss details with the seller, you can reach out via private messages or contact the number listed on the website.