Why Invest?
India is believed to emerge as the world's number one economy in the years to come. The shift in government’s policies during the last decades, regarding foreign investment in the country, is attracting a large number of foreign investors in the country.
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Market Report
India’s Market with a GDP growth rate of 9% is emerging as the fastest growing economies from the third world countries. It is believed that in the near future, it will be competing with the economic giants like Japan and America, and in the next 40 years it will emerge as the most powerful Economy of the world. India’s economy is a blend of diversified sectors, all contributing alike to India’s rapid economic growth. The major sectors which are playing the role of catalyst in India’s economic boom are agriculture, textiles, chemicals, detergents, travel, tourism and real estate.
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Economic Overview
India’s Economy is believed to be the fastest growing economy from the developing countries. With a GDP rate of 9.2% in the year 2007, it is ready to compete with the Global Economy Giants in the coming years. Indian Economic Growth is made possible by the market reform introduced by the Government, influx of the foreign direct investment, financial uplift in the real estate and IT sector and an ever-growing capital market.
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Visa/Residency Issues
All foreigners, regardless of their nationality, are required to have a visa in order to enter the country. There are four major types of visa in India which includes Tourist Visa, Entry Visa, Business Visa and Employment Visa.
A tourist’s visa is granted for 180 days and it is impossible to get an extension for a tourist visa. An entry visa means a visa which permits a number of entries in India within a specified period of time. Business Visa is known as a B-type visa and its time period range between 6 months to 1 year. An employment visa is granted on submission of an invitation letter by the employer. The time period of this visa varies according to the time period of the particular employment.
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Getting to India
More than 20 international airports are located within the Republic of India. These include: Begumpet Airport, Hyderabad; Calicut International Airport, Calicut; Chatrapati Shivaji International Airport, Mumbai; Chennai International Airport, Chennai; Cochin International Airport Limited, Cochin; HAL Airport, Bangalore; Indira Gandhi International Airport, Delhi and many more.
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Fees & Taxes
There are two conditions for the transfer tax. If the real estate is transferred to a relative, no tax is applicable on either the donor or recipient. However according to Finance Act 2004, if the recipient of the property is not relative to the person, he/she will be charged transfer tax, value of which will depend on the income of the recipient and value of the property.
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India
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Basic Information
| Population |
1,095,351,995 (2006) |
| Languages |
Hindi, Urdu, Tamil, Bengali, Kashmiri, English, Marathi, Gujarati, Malayalam |
| Area |
1,222,559 sq mi |
| Currency |
Rupee |
| Dialing Code |
+91 |
| Emergency Services |
101 |
India Overview
In 1947, British Government was forced to leave the country, which was made possible through a series of events including resistance from the Indian population and their own internal problems caused by the second world war. On August 15, 1947, India emerged as a free country with Jawaharlal Nehru as Prime minister. India became Republic of India, within the commonwealth after the establishment of a proper constitution in 1950.
Average Property Prices
Coming soon.
Buying Process
India’s Real Estate is booming day by day, but for the foreign investors, buying property in India could be a hectic task. The laws are numerous and tough for the foreign buyers, so before getting into a discussion about the purchase process in India, one must be really aware of the details about who is eligible to buy property in India and who is not!
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A foreign national of Indian origin (NRI) can buy immovable property in India without permission from the Reserve Bank of India (RBI). In the Indian law and NRI is defined as an individual having Indian descent from their parent’s or grandparent’s generation.
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A foreign National Residing in India can also buy immovable property in India without acquiring permission from RBI, because Indian laws give full privileges to all residents of the country. However there are exceptions to the residents of Pakistan, Bangladesh, Sri-Lanka, China and some other countries.
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