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Can Indian Citizens Buy Property In Dubai?

Posted by cafedetech on June 22, 2024
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Indian citizens can buy property in Dubai. They can purchase and own properties in freehold areas of Dubai. An Indian citizen must have a valid passport, UAE residency visa and other required legal documents to buy property in Dubai.

Indeed. Dubai is a real estate investment hub. Its property sector welcomes investors from all around the world because of the benefits that it offers. Dubai’s iconic skyline, advanced infrastructure and strong economic growth incite investors for real estate investment. Furthermore, property prices in Dubai are relatively cheaper as compared to other countries. Also, the government has eroded numerous taxes to attract investment. Tax advantages also influence real estate investors to choose Dubai for commercial, residential, and industrial investments.

Advantages Of Buying Property In Dubai:

If you are an Indian and interested in Dubai’s property sector, then you can invest here and generate significant ROI. Buying property in Dubai offers the following benefits.

High ROI

If you seek an excellent return on investment, Dubai is the best place for your real estate investment. The value of property appreciates over time, and the influx of people has increased the scope for rental property businesses in Dubai. By investing in Dubai’s property sector, you can earn ROI by selling or renting out your property.

Stable Economy

Political and economic stability plays a critical role in the growth and development of the real estate sector. If there is political or economic stability, the value of properties may be deprecated. However, thanks to the political and economic stability of the UAE, the value of properties increase over time.

Advanced Living Facilities

Dubai offers an advanced lifestyle and access to modern facilities and amenities, allowing residents and investors to experience its exclusivity and magnificent living environment. If you aim to live a splendid lifestyle, then Dubai must be your next investment choice. Villas for sale in Dubai, spacious apartments, and townhouses are laced with high-end finishes. You can also enjoy waterfront living in this metropolitan city.

Tax-free Environment

One of the best things is the tax advantages. There are no income or capital gain taxes in Dubai, so you are not bound to pay these taxes. This factor increases the fascination and captivation of real estate investment in Dubai.

Residency Visa

If you invest in Dubai as a foreigner, you become eligible to apply for a renewable residence visa. It means real estate investment in Dubai also extends your stay in Dubai. To become eligible to apply for a residence visa, one must have to cross the minimum set threshold for investment.

How To Buy Property In Dubai As An Indian?

Indians can buy properties in freehold areas of Dubai, enjoy complete ownership rights, and use the properties they purchase as they desire. 

Define Your Budget

You need to define your budget before moving ahead. Assess your financial position, determine how much you have saved for your property investment, and do not ignore if there is any existing debt. If you have a determined budget in your hand, then you can choose the most viable option that is within your reach.

Select A Property

Find a property based on your preferences and financial means. When looking for real estate investment in Dubai, evaluate the property, area, and locational advantages before making a decision. Also, conduct research about the developer and learn about his reputation, completed projects, and expertise.

Note: Indians can only buy freehold commercial or residential properties in Dubai.

Create A Draft

Negotiate terms and conditions and also discuss your concerns with the property owner to satisfy yourself. Following that, prepare a draft. Ensure that you understand all terms and conditions mentioned in the contract. Download and sign Contract Form F and pay a 10% refundable security deposit.

Now, obtain a No Objection Certificate from the developer to ensure that the developer has no objection in relation to the transfer of this specific property.

Submit the required documents at the Dubai Land Department (DLD) office and get your property registered. Both buyer and seller must be there at the DLD office at the time of agreement.

The best way to buy property in Dubai is to get the services of a real estate agent to ensure you make the right decision. A real estate professional assists investors in property selection, evaluation, negotiation, and legal matters. 

Documents Required To Buy Property In Dubai:

  • Passport and Visa
  • Proof of income
  • No Objection Certificate
  • Payment Details

Types Of Properties That Indians Can Buy In Dubai?

Indian nationality holders can buy property in freehold areas of Dubai. These areas include Dubai, Marina, Downtown Dubai, Arabian Ranches, Emirates Hills, etc. Based on their specific preferences and requirements, they can purchase off-plan or ready-to-move-in residential and commercial real estate in these designated areas of Dubai.

Tips On How Can Indians Buy Properties In Dubai:

  • Give yourself enough time to think about the purpose of real estate investment in Dubai. One must be clear whether you are going to live there for a temporary or extended period and are looking for commercial or residential real estate.
  • Decide the type of property you want to purchase like you are interested in buying a villa, apartment, or a townhouse
  • Connect with Kelt and Co Realty- a prominent Dubai-based real estate company- to choose the best investment option and make a favorable decision
  • Learn about related legal processes to ensure compliance and avoid any legal issue
  • Gather all the required documents to purchase real estate in Dubai
  • Calculate additional costs, taxes, and fees such as transfer fees, deposit charges, and purchase fee
  • Get a pre-approval mortgage certificate to find out how much you can afford

Summing Up:

Indians can buy freehold properties in Dubai and capitalize on Dubai’s real estate market. It is one of the most sought-after investment destinations for Indian investors. They can take advantage of tax benefits, start or expand their businesses in Dubai, and find the perfect place to call their abode. 

Interested In Buying Property In Dubai? Contact Us:

Kelt & Co Realty assists investors in buying, selling and renting real estate in Dubai. No matter whether you are a novice or adept real estate investor, we can find the best option based on your preferences because our team believes in personalized services. 

FAQS:

Can I buy a house in Dubai as a foreigner?

Yes. Foreign nationals can buy real estate in Dubai. They are allowed to purchase and own properties in freehold areas such as Downtown Dubai, Dubai Marina, Arabian Ranches, Jumeirah Village Circle, etc/

What is the Dubai flat price in Indian rupees?

Generally, the price of a property depends on its size, location, available facilities and amenities and proximity to prime areas. The prices of flats differ significantly based on the above-mentioned factors. Contact Kelt & Co Realty to find the price or value of your selected property.

What is the benefit of buying real estate in Dubai?

No property tax or capital gain tax in Dubai
Rental yield is comparatively high
Offers lavish lifestyle and modern facilities
Modern infrastructure and its skyline beautify it
Extends a safe and secure place to live and thrive
Offers residence visa if someone invests in property

Which areas in Dubai are best for Indians to buy property in Dubai?

Indian investors have access to a wide range of investment options in Dubai. Some of the best places for them are Dubai Marina, Downtown Dubai, Jumeirah Village Circle, Business Bay, and Dubai Sports City.

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