If you are a real estate professional looking for property rentals in India, you have probably already heard of some of the best websites out there. These include MagicBricks, NoBroker, and NestAway. These sites help you find available rentals in your city, and they also provide helpful information like price trends. Regardless of your needs, you should definitely check out these websites to list your property on rent.
Sulekha Properties
If you are looking for a cheap rental property in India, Sulekha Properties is the perfect place to list it for rent. This real estate portal focuses on small towns of south India, and it offers a host of options for landlords and tenants. It is the only real estate portal in India that focuses on small towns. Sulekha is a venture of the London-based Mitula Group.
In addition to listing properties for rent and sale, this website also features information about home loans and insurance, taxation, and government policies. You can also set up property alerts and receive updates when properties are for rent. These websites are free to use, but they can be time-consuming to learn about. They have an impressive database of listings, but they are not the best websites to list your property on rent in India.
Makaan offers a unique feature that helps users navigate through properties. Its columns feature featured properties, list trending properties, and list a variety of properties and their prices. Each listing has a detailed analysis, including land area, surrounding areas, special features, and the annual growth rate. The website also offers home loan services and a mobile application. In addition to listing your property on rent in India, Sulekha Properties is an excellent choice for landlords and tenants.
MagicBricks
If you are looking for a place to rent out your property in India, MagicBricks is an excellent choice. They offer a unique platform for listing real estate and provide transparency to the user. Moreover, MagicBricks claims to list more than fifteen lakh properties. They are backed by celebrity endorsements such as Kriti Sanon and Ayushmann Khurrana. This website has assisted millions of Indians with their rental property needs.
MagicBricks is the leading real estate portal in India. It offers relevant options for apartments and flats for rent, and is an ideal choice for anyone looking for a property. Its user-friendly buying search engine offers detailed information about various properties, and the results are very satisfying. The app has a powerful filter feature, allowing users to find the best property that meets their needs.
Housing is another popular site for buying/selling/renting property in India. It has an excellent response rate, and works even for properties outside of the country. While other sites may look and feel clumsy, this site has gained a name for itself in the real estate industry in India. Moreover, it is popular even for international homebuyers. Currently, MagicBricks gets about two-thirds of its website traffic from search engines and seventy-five percent of its visitors come directly. Apart from this, the remaining visitors come from various sources.
NoBroker
When you want to rent your property in India, NoBroker is a good option. The website has an unending database of properties, a team of relationship managers who will work with you to find the perfect tenant. In addition to offering a large variety of residential and commercial properties, NoBroker also offers a secure payment portal for landlords and tenants. NoBroker also provides services in Mumbai, Bangalore, and Pune.
NoBroker operates in six cities across India: Bengaluru, Chennai, Gurgaon, Mumbai, Hyderabad, and Pune. The company has more than 3 million properties listed on its website and over 7 million users, with 280,000 new members joining every month. The website also includes cleaning and interior design services for landlords and tenants. NoBroker has the highest customer retention rate in the industry, with an average of three listings per day.
The NoBroker team uses open source technology to collect data. This gives them more options when collecting data on property values. The company also offers analytics to help their customers make smart real estate decisions. With all these tools, NoBroker has helped save $150 million in brokerage fees every year. NoBroker also provides a suite of real estate services such as payment management, rent payments, and visitor management.
NestAway
If you are thinking about listing your property for rent in India, NestAway is one of the best places to do so. This website charges 12.5% of the rent to landlords and does not charge any brokerage fees. NestAway has been backed by investors including Goldman Sachs. The startup also has the backing of universities like the University of California, Berkeley and IDG. It also has the largest database of rental properties in India.
One of the key features of NestAway is its focus on co-living. It takes up an entire building, with the owners sharing common areas, utilities, and even yoga and salsa classes. The website aims to build community by encouraging members to participate in social activities like yoga, salsa, and sports. Users can also engage in conversations with sportspersons and entrepreneurs who are part of the community.
The company has received $30 million in venture capital from investors including Russian billionaire Yuri Milner and U.S. hedge fund Tiger Global. NestAway also received backing from several prominent Indian and foreign investors, including Flipkart IPO-FLPK.N and IDG Ventures India. It now has over 17,000 listings in India. However, NestAway is not profitable. In fact, its cash burn rate is just under $1 million per month.
Stanza Living
Listing your property on a rental website is an excellent way to market it. Many websites have options for search by price range, location, or amenities. Stanza Living has managed apartments for rent in Hyderabad, and a large number of people have found them to be a great place to stay. However, not all rental websites are created equal, so it’s important to find one that caters to your needs.
The company was founded by two former Boston Consulting Group consultants, Sandeep Dalmia and Anindya Dutta. Dalmia was a Principal with the Boston Consulting Group, working in both the US and Indian markets. Anindya Dutta previously worked with Oaktree Capital and Goldman Sachs in London. Both have backgrounds in business and technology.
Another excellent website for property listings is Roomster. This international real estate website covers major cities in India and allows users to sell, buy, rent, and find roommates. It also lets users post listings for resale properties. Its pan-India presence makes it one of the most popular real estate websites in India. This website is the leading property hunting site in India, and has listings for sale, purchase, and rent across 25+ cities in the country.
OLX Homes
OLX Homes is one of the largest free classifieds websites in India. Listings on this site are updated by the minute and attract a lot of traffic. Currently, the website operates in three major Indian cities. Users of this website are primarily young working professionals. They use the site to find rental properties and PG homes. OLX Homes also offers work spaces and guest houses.
Roomster is a global real estate website that lists properties in major Indian cities. Users can rent or buy a property and post the rates in Indian rupees. Prices for accommodation on Roomster are extremely affordable. A shared room in Mumbai will cost you just over Rs.7,500 per month. While the website does not specify the contact person for each listing, it does include detailed listings of properties in the city.
If you are looking for a rental property in the country, you can also post it on OLX Homes. It covers all major cities and enables users to choose from a range of properties that best suit their needs. Users can also set criteria for tenants to view the property. Once a tenant is found, they can apply to rent the property. Using a real estate website like OLX, you can list a property on rent and get multiple renters at once.
Investment in rental properties can earn you a decent income from rental properties in India. However, the question arises, «Is it a wise decision to invest in rental properties in India?»
Dos and don’ts of investing in real estate in India
Investment in rental properties requires a high degree of financial discipline and a good understanding of real estate laws. You must calculate various expenses before investing in a property. Depending on the type of property you’re looking to purchase, the amount of loan you’ll need to repay will vary significantly. Make sure to calculate how much money you’ll need for repairs and maintenance. If you’re borrowing money from a bank or other financial institution, don’t invest in properties that will require you to spend more than 30% of your total annual income.
While investing in rental property requires some patience and research, the benefits are numerous. For one, it provides you with a reliable source of passive income and good cash flow. Additionally, you’ll be able to choose who manages your property. In addition, having your own rental property gives you financial freedom, as well as many other benefits. For these reasons, knowing about the dos and don’ts of rental investing is crucial.
Real estate is the safest form of investment in India. It offers high returns and is a more profitable choice than other forms of investment. As more international companies invest in India, the real estate value has increased faster than ever before. Real estate investors in India will benefit from the post-Covid-19 scenario, which means more jobs, influx of people, and increased demand for homes. Thus, the value of real estate will rise exponentially.
Considering location is another important factor. Your investment will depend on where the rental property is located. Location will determine who will rent it and the rental rate. If you are investing in a property near a university, you’ll likely have a high student population, but you may also encounter frequent vacancies during the year end and the holidays. Moreover, you can look for nearby employment hubs and other public utilities for tenants.
Real estate investment can be lucrative for NRIs, as the market has always attracted a considerable number of Indians. Developers are making good deals and offering subvention schemes to lure these investors. Meanwhile, local buyers are playing a wait-and-watch game. It is best to stick to reputable and established builders and avoid the pitfalls that accompany such investments. In the long run, you’ll reap the benefits of real estate investments.
Buying rental properties for investment purposes requires thorough research and planning. A good investment will be profitable if you understand how the market is likely to change and how you’re going to use the money. Consider making a significant down payment to prevent a huge loan. Otherwise, you may end up paying an even bigger monthly amount, which will make it difficult to make big purchases in the future.
Income from rental properties
If you are planning to invest in rental properties in India, here are some important details that you should be aware of:
First of all, you must know that income from rental properties is taxed differently in each country. While the income earned by foreigners can be deducted in their home country, Indian rental properties may not be taxed in their home country. As per tax laws in your home country, the income generated from rental properties in India may be taxed by the respective country in which you live. However, the government is considering new guidelines for rental income taxation in India.
If you want to save on tax, you should consider joint ownership. Joint ownership can reduce the burden of tax on rental income. You can transfer the property to your child or a spouse who will be a joint owner. If you don’t want to give the property away to your child, you can gift it to his wife. However, any income that the gift recipient earns will be clubbed with the income earned by the donor.
Once you are sure of your tax status, it’s time to file your Income Tax Return. You can do this by filing Form 15CA every time you receive rent. It’s also important to remember to obtain Form 15CB from a chartered accountant if your rent is over Rs 5 lakh. After filing your Income Tax Return, you need to gather all the necessary information to comply with the new tax regime. These tips will help you deduct TDS from your rents and stay on top of the Income Tax Act.
Income from rental properties in India is taxed according to their annual rental value. Rental income is calculated by adding up the rents a property gets in a year. If you pay monthly rent of Rs 15,000, your GAV is Rs 1,80,000. This means you can claim a deduction of up to Rs 2 lakh on your home loan. In addition to tax benefits, you can also enjoy some other perks that come with owning rental properties in India.
While you can rent your rental property in India to an NRI, you will need to pay taxes on your rental income in India. If you rent your property to an NRI, you must obtain a TAN number so you can deduct 30% of the rent and provide the income tax authorities with the TDS certificate. The income tax authorities can hold you liable for failure to deduct taxes, so it’s important that you get the proper guidance and documentation before renting out your rental property.
In addition to generating monthly income from your rental property in India, you can invest your rental income in financial assets like NREs. This type of investment can generate 5-8 percent post-tax returns. It’s best to pay attention to the tax implications of your rental income, and to calculate your expenses. You must also factor in house-related expenses. This includes repair and maintenance charges. These should be deducted from your annual rental receipts.
Requirements for obtaining a power of attorney
Power of attorney is essential for foreign buyers who wish to invest in India’s rental property market. It gives someone the legal authority to act on the buyer’s behalf and execute transactions in the absence of the buyer. The Power of Attorney can be in the name of a trusted associate, family member, or friend. It not only protects the buyer from forgery, but also secures the investment until the buyer is able to take over.
Power of attorney documents are usually required by the Indian Embassy Consulate. If the power holder is not in India, he will have to have the signatures of witnesses present to sign the document. Other documents needed are address proof in the country of residence and proof of identity. It’s imperative to understand the rules and regulations before preparing a power of attorney.
A power of attorney plays a major role in real estate transactions, especially those between NRIs. The Registration Act, 1908, requires that both parties must be physically present when a POA is issued. A trusted family member or friend can be designated as a POA for such a transaction. The Power of attorney must be registered with the respective sub-registrar and endorsed by an Indian Embassy or Consulate.
Besides the legal requirements, a power of attorney is a useful instrument for NRIs in India who cannot handle the legal and financial aspects of investing in rental properties. A Power of Attorney allows an NRI to appoint someone to act on the owner’s behalf on important legal decisions. A power of attorney can be used for capital purchase of land, leasing, and selling property. It also can be used for mortgage and purchase proceedings. Many NRIs in India rely on power of attorney to make these important decisions.
The process of cancellation of a POA is similar to that of obtaining a POA. The power of attorney is not registered in India, and the representative should be mentally stable. Also, a notarised POA is not as valid as a registered one. A power of attorney must be registered in India. If the POA is executed outside of India, it must be registered. Any mistake in the draft can make it invalid.
Once the POA has been executed, it must be legally acknowledged in India within three months of its date of issue. This is done through the apostalisation process, which was introduced by the Hague Convention in 1961. Apostilled documents ensure that the document meets local requirements. The deed of the POA must be apostilled in the country of sale or purchase. The preceding documents must be authenticated in the Indian embassy within three months of the POA being signed.
