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Frequently Asked Questions

  • Where is Ensaara Metropark located?

Ensaara Metropark is located in the fast-upcoming neighborhood in the South of Nagpur (SoNa)

  • What is the address of the sales office of Ensaara Metropark?

The Glade, Ensaara Metropark, Pipla, Tehsil & District, Nagpur, India – 440034

  • What is the category of Ensaara Metropark homes?

Ensaara Homes are categorized as Park Houses, Treeline Apartments, Vista Apartments and Willow Homes

  • How Can I contact Ensaara?

Write to us on: sales@ensaara.co.in Or call on +91 88888 02900

NRI Corner

The global standards of Ensaara Metropark have made it a trusted name among investors. Our property is located in the center of the Indian Peninsula. We offer world-class amenities and the best of features that NRI’s would love to come home in addition to excellent returns on investment. These factors paired with the excellent financial guidance that Ensaara Metropark provides, make us a top-notch choice for NRI’s across the globe.

  • Q1. Who is an NRI?

A Non-Resident Indian (NRI) as per India’s Foreign Exchange Management Act 1999 (FEMA), is an Indian citizen or Foreign National of Indian Origin resident outside India for purposes of employment, carrying on business or vocation in circumstances as would indicate an intention to stay outside India for an indefinite period. An individual will also be considered NRI if his stay in India is less than 182 days during the preceding financial year.

  • Q2. Who is a PIO?

A person who is not a citizen of India is deemed to be of Indian origin if he is not a citizen of Pakistan or Bangladesh and if • he at any time held an Indian passport; or • He or either of his parents or any of his grandparents was a citizen of India by virtue of the Constitution of India or Citizenship Act, 1955. A spouse (not being a citizen of Pakistan or Bangladesh) of an Indian citizen or of a Person of Indian Origin is also treated as a Person of Indian Origin for the purpose of NRI deposits if the accounts are held jointly with the NRI/PIO spouse. PIOs are extended the same facilities for bank account maintenance in India as NRIs and are also, for such purposes, called by the generic name as NRIs.

  • Q3. Can NRIs acquire or dispose of residential property by way of gift?

Yes, the Reserve Bank has granted general permission to NRIs to acquire or dispose of NRI India Properties by way of gift from or to a relative who may be an Indian citizen or a person of Indian origin (PIO) whether resident in India or not.

  • Q4. What are the various facilities available to NRIs/OCBs?

NRIs/OCBs are granted the following facilities:

1. Maintenance of bank accounts in India
2. Investments in securities/shares of, and deposits with, Indian firms/companies
3. Investments in immovable properties in India

  • Q5. Can NRIs/PIOs rent out their properties if not required for immediate use?

Yes. NRI/PIOs can freely rent out the immovable property, whether purchase through the application of forex or otherwise, without seeking any permission from the RBI. The rental income being a current account transaction is repatriable outside India, only if property tax is paid or provided for.

Joint ownership of the property in India

An NRI can buy the property of their choice in their own name or jointly with any other NRI. The property cannot be in joint ownership with a resident Indian or with those who are otherwise not allowed to buy property in India.

Power of Attorney

Power of Attorney (POA) is the person selected by the NRI, who is investing in a property in India to complete the transaction on their behalf. It could be anyone from a trusted relative, friend or even colleague.

A POA can be attained by going down to the Indian Embassy of the city and country where you are located and sign the document in front of the consulate officer.

Documents needed by NRIs to buy the property

  • A photograph
  • Your left thumb impression
  • Signature

If you are an NRI buying property in India you do not require any special permission. However, you have to make the purchase using Indian currency, the Rupee, through funds received in the country by means of normal banking channels.

  • The funds have to be maintained in a non-resident account under the Foreign Exchange Management Act (FEMA) and the Reserve Bank of India (RBI) regulations.
  • There are also no restrictions on the number of immovable properties that an NRI may purchase, either residential or commercial.
  • NRIs can buy all sorts of immovable properties in India other than agricultural land, farmhouse, and plantation property.
  • To acquire agricultural land/plantation property/farm house in India, they have to get approval from the RBI and the government.
  • When an NRI sells a property in India, the TDS (tax deducted at source) calculation is done at the rate of 20.6 percent on long-term capital gains and 30.9 percent on short-term capital gains.
  • The RBI has given general permission to banks and housing finance companies registered with the National Housing Bank to provide loans to NRIs for buying residential property in India. Sanctioned in Indian currency, the loan has to be repaid using the same currency
  • As you live outside, NRIs have an option to give Power Of Attorney to their friends or relatives, to complete the property purchase process in India.

Housing Loan

Save both time and money and understand the process of availing a home loan. Once you finalize the property, these are the steps you need to follow while applying for a housing loan -

How to Opt for a Loan?

Step 1 : Compare the interest rates of various banks
Check the interest rate and loan eligibility criteria for different banks and select the one that matches your requirements and is the most suitable as per your needs.

Step 2 : Filling up a loan application
After finalizing the bank you are availing a housing loan from, you will need to fill up a loan application. There will be a list of documents that your assigned bank will provide you with, which need to be submitted with the loan application.

Step 3 : Bank’s due diligence
Banks will give you a home loan by assessing your financial background, your repaying capacity, the legality of the property, and other details based on their field investigation. Your bank statements, savings, transactions, investments, business activity, credit and repayments, bank balance, cheque bounces - all these are studied by the bank

Step 4 : Estimating creditworthiness and loan eligibility
Banks study your repayment history and do a deep dive into your creditworthiness once they establish that your property is free of legal hassles. If you have been able to maintain a good credit score throughout, you can even get a higher loan amount.

Step 5 : Accepting the offer
After everything is finalized, the bank will send you an offer letter with the final loan amount mentioned in it. Once signed, the bank will hand over the direct deposit to the seller and take possession of the property.

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