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6. A Look at India

6. A Look at India. Page 105. Geography. Page 106. Economic Growth—surpassing China? Growing Middle Class Homeownership—86% Subsidies and Rising Commodity Prices Infrastructure issues Spreading urbanization, crowded cities. Modern India. Page 107-110. Torrential downpours

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6. A Look at India

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  1. 6. A Look at India Page 105

  2. Geography Page 106

  3. Economic Growth—surpassing China? • Growing Middle Class • Homeownership—86% • Subsidies and Rising Commodity Prices • Infrastructure issues • Spreading urbanization, crowded cities Modern India Page 107-110

  4. Torrential downpours • 80% of the annual rainfall • June to August • Beneficial monsoon season bolsters the economy Monsoon Season Page 109

  5. FDI Top FDI Investors in India • Singapore • Japan • United States • United Kingdom • Netherlands • Cyprus* • Germany • France • UAE* Top Sectors for FDI • 20%–Services • 8%–Telecommunications • 7%–Computer hardware and software • 7%–Construction • 7%–Housing and real estate Page 111

  6. Your Next Client? • United States: 2.2 million • Canada: 1 million • U.K.: 1.5 million • S. Africa: 1.2 million • Malaysia: 2 million • Saudi Arabia: 1.7 million • UAE: 1.7 million India Diaspora Page 112

  7. NRIs and PIOs • Non-Resident Indian (NRI) • Person of Indian Origin (PIO) • Overseas Citizen of India (OCI) • Prime source of investment in real estate • Government encourages ties and long term investment • NRI Colonies--full-amenity communities Page 112-113

  8. Diaspora pulls Indians abroad • Career opportunities • Family ties • Immigration • Real estate business potential Why Is This Important? Page 113

  9. Bank Accounts Page 114

  10. Buying Real Estate in India • Indian property law • Maintain real property ownership by resident citizens • Quell speculation • Limit ownership to Indian citizens, those with family ties • No ownership of agricultural land, plantation property, or a farm house Page 114

  11. Crore and Lakh 1 Crore = 10 Million 1 Lakh =100,000 Page 115

  12. Transaction Costs • Stamp Tax • Registration Fee • Capital gains tax • Real estate agent fees • Registration • Property tax Page 115-116

  13. Foreign Ownership? Foreign residents of Non-Indian Origin Non-residents of non-Indian origin No purchase allowed May rent a residential property Maximum 5-year lease • May purchase a residence • Prior-year’s stay of 182 days required plus proof of intent to reside in India indefinitely Page 116

  14. Commercial Real Estate • Foreign corporations need Reserve Bank of India approval to buy or sell real property • Trend toward outlying business park development • Residential development funded with foreign capital requires25 acres of land • Commercial properties minimum 50,000m2 Page 117

  15. Rental Property • Rent-control laws skew rental markets • Apply to leases of 12 months or more • 11-month leases common • Serviced apartments provide short term housing for staff of foreign companies Page 117

  16. Real Estate Professionals • States regulate real estate practice • No licensing • Informal channels-homemakers, friends and relatives, kiosk owners, and janitors • National Association of Realtors–India striving for professionalism nationwide MLS Page 122-128

  17. Introductions • Women in Business • Business Cards • Conversation Starters • Meetings • Demeanor • Contracts and Negotiations • A Few Taboos • Social Etiquette Doing Business In IndiaBeyond the Basics Page 85

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