NRI Home Sales and Visa Issues

They are leaving their homes and returning to India, literally. They really

loved the homes they bought.

They are leaving homes bought for eight crore, seven crore, and walking away from them.

They are leaving them behind

and going away, there is talk going around.

One such house is in Dallas, Arlington. If you literally look inside the house,

they have left so much stuff behind. They do not take the fridge, and they have left the washer and dryer as they are.

Even the alcohol bottles are still there. It looks like they vacated in a hurry.

There is a page called NRI Adda, and that page recently posted that families they know

around ten people went to India, leaving their homes behind.

I also know one or two people who left their homes behind and went to India.

NRIs are leaving houses that cost eight crore, seven crore, such expensive houses…

Why are they leaving it behind? Did the money come for free?

Many may wonder if they can at least get some money by selling it.

Let me give a brief explanation of what is actually happening.

Many H-1B holders aren't getting visa extensions or are receiving rejections.

So such people have to return to India.

They have to leave.

So they're asking almost 200K less for homes they bought for seven or eight crores.

Two hundred K.

They're asking for nearly two crores less.

They're asking for two crores less.

They're asking only six crores for a house they bought for eight crores.

Let's say he paid a crore and a half in payments and down payment combined.

Even then, he has to pay another 50 lakhs to the bank.

So they say, "I'm not coming back to this country anyway. I don't need it," and their credit score

Even if it falls, whatever falls, they say it has nothing to do with them.

What many people are doing is,

they pay fifty lakh rupees and leave. Why? If it's a foreclosure, even the bank

will take care of it, they say, and return to India.

They are even leaving behind the homes they bought with so much love.

If you ask, "Is everyone leaving, bro?" Let us say there are one lakh people. Of that one

lakh, not even one percent are leaving.

But that one percent means almost a thousand people or a thousand

families out of one lakh, that is a big number. So, the remaining ninety-nine thousand people, as it

is, their

jobs are fine, their homes are fine. They

are just continuing to do what

they are doing. Obviously, here and there, some visa issues are

going on, but

they are still here, working for the companies and living their NRI lives.

But the remaining one percent or two percent, whoever they are, they

are having some

trouble. Some are enduring and standing firm, while others are unable to stand

and are leaving.

Pointing to them, news reports say the entire NRI situation is like this, everyone is returning to India.

There are many reports saying this, which is somewhat true, but not

completely true. If you ask whether the market will always be like this, I think

another two or three years

things may get better, and maybe you'll get all your invested money back.

Say you invested seven or eight crores in a house, maybe you

will get

back your money. Another major wave is coming within the next

few months, that is variable interest.

So basically, many people living in America know this, and that wave is going to

hit in the next four or five months. Many houses will come back on the market.

Because of that. So, in another one or two years, you

won't be selling the house, you

have nothing to worry about. In another three or four years, maybe you'll get your

money back. Maybe. But if you're selling the house in the next one or two years,

then.

then.

A lot of NR…