Managing rental income as an overseas owner.
Collection, tax, remittance, and property management options.
Setting the Right Rent
For a Purva City Kochi 3 BHK, expected monthly rent is ₹52,000-68,000 (2028 handover prices). Corporate leases (2-3 year, semi-furnished) command a 15% premium over regular tenants.
Finding a Tenant
Options: (a) our in-house rental management team, (b) reputable Kochi brokers, (c) online platforms. In-house is preferred by 80% of NRI owners — you get a single point of contact and quarterly reports.
Collection
Rent should be credited to your NRO account (never a resident-Indian account — this is a FEMA violation). Standing instruction from tenant + auto-debit reduces friction.
TDS by Tenant
If monthly rent exceeds ₹50,000 (which is likely for Purva City Kochi), tenant deducts 5% TDS u/s 194IB. For NRI landlords, if tenant is aware you're an NRI, they must deduct 30% TDS u/s 195 — significantly higher. Apply for Lower Deduction Certificate (Form 13) to reduce this to actual tax rate.
Repatriation
Rent net of tax can be freely remitted from NRO to your overseas account, subject to Form 15CA/CB compliance. Most banks batch-process quarterly remittances at zero individual fees.
Property Management Services
Puravankara offers post-handover property management: rent collection, TDS handling, minor maintenance, tenant transitions, and quarterly reporting. Fee: 8-10% of gross rent. NRIs consistently rate this as their #1 value-add service.