Discrimination faced by Mumbaikars...

If the housing societies in Mumbai (Bombay) are only meant for families (married couples), then the government of Maharashtra should make marriage compulsory in the state/city.
Or else the government should tell its citizens where will Unmarried, Divorcees, Bachelors, Spinsters live in the city of skyscrapers or is Bombay only for those who have families.
This is one of the greatest mental blocks of Mumbaikars, who otherwise want to bask in the FALSE HALO of Cosmopolitanism.
This disease (of not giving apartments to Bachelors, Muslims, etc on rent) is specially prevalent in housing societies where the Gujaratis, Marathis and North Indians (to some extent) abound; while the rest of the population is more or less okay with the concept.
The government of Maharashtra should take this matter seriously and devise laws to eradicate this malice ASAP, so that BOMBAY (and its suburbs) becomes free of discrimination based on Marital Status, Religion, etc. Or else the Honourable Supreme Court of India should step in, and give directions to the state or central governments -- so that the fundamental rights of its citizens enshrined in the constitution of India is not violated.

Saturday, January 03, 2015

HOW CAN NRIS BENEFIT FROM INVESTING IN INDIAN REAL ESTATE?  
~~By Mr. Rajesh Dedhia
NRIs may often find it quite intimidating while investing in a property in India. However, they have always been opportunistic in terms of real estate investments and the possible returns. When it’s about investing in the Indian property market, NRIs are the first to do so; especially, when the rupee slides. During rupee volatility, financial institutions and property developers come up with various schemes for NRIs, encouraging them to invest in here. 

In the same way, NRIs are also drawn towards higher interest rates on NRE (Non-Resident External) and FCNR (Foreign  Currency  Non-Resident)  deposits.  That's  possibly  because  the  standalone  rupee  returns  appear rewarding to them. The government, too, keeps coming up with new schemes calling investors from abroad and real estate is indeed one of the sectors, which always grabs the attention of NRIs. 

The Reserve Bank of India has also given access to all non-residents with Indian passports and People of Indian Origin to invest in the Indian real estate market. Therefore, the number of real estate investments by NRIs is on a high, as the value of the rupee depreciates further while the property market promises better returns. 

How can NRIs invest in real estate? 
As per the regulations of FEMA and RBI, an NRI is allowed to make only certain investments in real estate. An NRI is allowed to do the following investments in property: 
 1.  Any immovable property can be purchased by an NRI in India other than any agricultural land, farm house and plantation property. 
2.  He  can  get  any  immovable  property  as  mentioned  above  by  gift  from  Indian  resident,  Indian  citizen  residing outside India or person of Indian origin. 
3.   Obtain any property by inheritance. 
4.   He can transfer immovable property to any resident of India by sale. 
5.   He can transfer any agricultural land, farm house or plantation land to any resident of India by gift. 
6.   He can also transfer his residential or commercial property by means of gift to any person either residing in India or abroad or person of Indian origin. 
  
Benefits of Investing in Indian Real Estate Market 
- NRI investment in real estate India is beneficial as the price appreciation has been consistent over the years and has been extremely rewarding in the past 5 years. 
- The Indian real estate market is nearly unaffected by recession & global slowdown 
- The variety of choices in terms of Residential & Commercial spaces available for NRIs is incredible. 
- The Indian property market also offers security against high inflation. 
- The best part is that an investment in India acts as a great saving instrument for your retirement which could later be used by your children. 
- Above all, a place in the motherland usually offers an emotional support and sense of security, which is why NRIs prefer investments in India. 

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