How we can
assist you
Sales
Selling NRI properties demands special attention, including finding buyers knowledgeable about NRI legal and financial implications, applying for TDS reductions for tax savings, understanding capital gains exemptions, and providing guidance on repatriation policies. Our proficiency in the legal, financial, and tax dimensions of cross-border property transactions ensures a smooth and compliant sales process.
Rentals
Securing an appropriate tenant is vital, and at Chennai Property Management, we fully comprehend this challenge. We aim to find tenants who not only take care of the property responsibly but also prioritize timely rent payments and vacate the premises when required. Our commitment to thorough due diligence ensures that your properties are rented to reliable tenants.
Property management
Manage your property stress free by leaving the challenges to us. We take care of various aspects of managing a property - maintenance, tenant move in, move out, asset inventory, damage estimates, property inspections, rent collection, tax payments, and address any other property-related issues on your behalf.
Maintenance
A house, much like the human body, requires regular maintenance. Whether it’s painting, arresting seepage, plumbing, electrical, carpentry, seepage arrest or any other repairs, our skilled technicians are here to handle them for you.
Super Happy Customers
I have had a fantastic experience with Chennai Property Management as my property manager. I have been taking their service from 2012 and they are very professional, responsive, and dedicated to ensuring that my property is well-maintained and that any issues are promptly addressed.
Their commitment to providing excellent service and their ability to manage tenants and property matters seamlessly has given me great peace of mind. I highly recommend Chennai Property management to anyone looking for a reliable and top-notch property manager.
Nandakumar, DubaiChennai Property Management team has done a terrific job with selling my Thoraipakkam flat. They identified the right buyer and briefed both buyer and myself on NRI tax compliances, helped with all paperwork and sold the property without any issues. Overall, I was quite happy with their service.
- Sriram Jagannathan, USAI've been with Chennai Property Management since 2015, and I couldn't be happier. Saravanan and his team are reliable, prompt, and highly professional in all aspects of property management. They excel at finding tenants, handling lease renewals, negotiating rents, and promptly addressing maintenance issues. Plus, they ensure bills and taxes are paid on time. Whenever I need assistance, Saravanan and his staff are just a phone call away. Highly recommended!
Benny, AustraliaTalk to us
Blog
NRI tax rate and TDS deduction on sale of property
NRIs are taxed at the same rate as non NRIs. If property is owned for more than two years, then they fall under the 20% tax slab. If it’s a short term sale (owned for less than 2 years) then NRIs are taxed at the applicable tax rate based on total income taxable in India.
Read more
NRIs can remit upto $1 million on sale of property
After a sale of property and payment of appropriate taxes either through TDS during sale or advance payment of taxes, NRIs can remit up to $1 million USD. NRIs have to produce documentary evidence of sale (sale deed, registration fees receipts, tax payment evidence) along with a certificate from an auditor to remit the amount back to their country of residence.
Read moreNRIs and Taxes
NRIs, your rental income for properties in India is subject to tax in India. While filing taxes you can take a standard 30% deduction on annual value of property, which includes the cost of maintaining the house. Other deductions are home loan interest paid, property and water taxes. Regarding filing of taxes, you don’t need to file until your income exceeds 2 lakhs annually. Your interest from NRE account, dividend income and interest income from PPF is TAX EXEMPT.
Read moreLandlords, your PAN number is required
Whether you are an NRI or not, your PAN needs to be furnished if you fit the following criteria…
1. If your tenant is using HRA (House Rent Allowance) from his company AND
2. If your rent is more than 1 lakh per year
When a tenant claiming HRA rents a house, their company furnishes a form which asks for landlord’s name, contact, PAN number and other pertinent details.