NRI Guide to Buying an Apartment in Bangalore

Non-resident buyers form a meaningful share of demand in North Bengaluru, drawn by the same employment and infrastructure inputs that attract resident buyers. The mechanics of a remote purchase differ, though, and the differences are worth understanding before an Expression of Interest is submitted rather than after.

Start with the project-side facts, which apply equally to resident and non-resident buyers. At Codename Club Class, prices run from Rs 2.15 Cr++ to roughly Rs 3.50 Cr++ across eight plans of 1,832 to 2,312 sft. Goods and Services Tax applies at 5% on under-construction homes without input tax credit, with stamp duty and registration at prevailing Karnataka rates. Maintenance from possession is indicated at roughly Rs 7,300 to Rs 9,200 a month.

Financing is usually the first question. Home loan approvals for this project are expected from SBI, HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, Bank of Baroda, Bank of India, Union Bank, Central Bank and Citi, with the final panel confirmed after registration. Most of these lenders operate dedicated non-resident products, and eligibility, documentation and repayment routing should be confirmed directly with the lender rather than assumed from general guidance.

Documentation and representation deserve early attention. A non-resident buyer transacting without travelling will typically appoint a representative to sign and register on their behalf, which requires paperwork prepared correctly in advance and attested per the applicable process. Getting that drafted before a booking window opens avoids the common problem of an allocation lapsing while documents are in transit.

On the investment case, the numbers are the same ones a resident buyer would weigh. Thanisandra averages sit near Rs 11,500 per sft against branded premium launches nearby at Rs 13,000 to Rs 16,000. Five-year appreciation reads 90.1% to 94.2%. Gross rental yields run 3.5% to 4% semi-furnished and 4% to 4.5% furnished, supported by corporate leasing from Manyata at roughly 6.8 km and Bhartiya City at around 2.6 km.

Two practical points specific to buying from abroad. Verify the Karnataka RERA registration number yourself once issued rather than relying on a forwarded image, since you will not be walking into an office to check. And arrange a site walkthrough — we run these over video for buyers outside the city — before committing, because a 30-acre lake on the western boundary and roughly 80% open space are far easier to assess visually than from an area statement.

Related reading: Real Estate vs Mutual Funds and Is Thanisandra Good for Investment.

Planning a visit? Enquire with our team to book a site walkthrough or request the cost sheet.

FAQs

1. Which banks lend on this project?
   Approvals are expected from SBI, HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, Bank of Baroda, Bank of India, Union Bank, Central Bank and Citi, with the panel confirmed after registration.

2. What taxes apply on purchase?
   GST at 5% on under-construction homes without input tax credit, plus stamp duty and registration at prevailing Karnataka rates.

3. Can I buy without travelling to India?
   Buyers commonly appoint a representative to sign and register on their behalf. The documentation should be prepared and attested well before a booking window opens.

4. Can I view the project remotely?
   Yes. We run site walkthroughs over video for buyers outside the city, which is worth doing before committing.