Dubai, UAE: Indian Property Show-the much awaited property extravaganza of Indian properties and one of the largest exhibitions fulfilling the dreams of all NRI’s in UAE, is back with over 70 developers and is expected to generate business worth USD 51 mn. Whatever is your idea of a dream home, whichever location has taken your fancy- and suits your budget- you are sure to find a suitable property as 300 Projects worth USD 5 bn will be showcased. Organised by Sumansa Exhibitions, the Indian Property show will exhibit diverse offerings ranging from budget to luxury properties and exciting offers from developers!. Entering its 5^th year the show  is scheduled from 15^th-17^th December at Airport Expo, Dubai.

An ideal platform to meet developers, estate agents, financers, legal experts and vaastu consultants all under one roof will help you to  make the most important decision of your life- Property Investment! The show is expected to be visited by over 15,000 visitors. The property developers who will be participating include best of the Indian real estate, construction companies, Banks and real estate agents. Some of the top exhibitors are Unitech Ltd, Vatika Group, Nirmal Lifestyle, Hiranandani, Ansal Housing, India Bulls, Ireo, Investors Clinic-India’s leading real estate consultancy and Citibank UAE etc.

To reach global Indians & serve them better Citibank UAE and Investors Clinic is participating in Indian Property Show as Sponsors

Mr. Sunil Jaiswal, CEO, Sumansa Exhibitions said, “We are pleased to get the show back to Dubai after successfully showcasing in Durban, London and Singapore. Indian Property market is a hot investment option even today and the sentiment is echoed by all the developers back in India as the enquiries and purchases by NRI’s have kept on increasing. This is even after the interest rates on home loan have gone up and the property prices in Q1 & Q2 of 2011 have seen an upward trend. Residential property demand will remain strong because of the strong business climate. So we are positive that the show will do well as usual”.

Adding further, Mr. Jaiswal, said, “The last edition of IPS was held in June in Dubai and was an unprecedented success. The show surpassed all the expectations and broke the records of the previous editions. I take this opportunity to thank all the visitors and exhibitors who have trusted us and made Indian Property Show their ideal choice for making Property investment decisions”.

This year apart from the informative seminars on legal, vaastu and investment opportunities in cities such as Pune, Delhi NCR, Jaipur, etc.  The show has added an exciting new feature – Property Dhamaka! The Property Dhamaka brings to you exciting and unbeatable offers from participating developers that include discounts, amazing holiday packages for families, free property registrations and much more for on the spot bookings. So mark your calendars and head on to the Indian property Show to check out the hot properties on display, irresistible offers and for informative consultation with legal, vaastu & financial experts!

For media enquiries contact : Ms. Anuroopa/ Ms. Swapnali,  

Pulse 360 PR & Marketing Communications, #97150 6787335/ 97150 8235461/04 2327789,

anuroopa@pulse360me.com, swapnali@pulse360me.com

Vastu as we always say is not confined to the architectural design of building indeed Vaastu is a ‘vast’ concept that can be applied to every related thing on earth. Vastu has it all and its principles have held important place in our lives as they make us prosperous in every way. Vastu Shastra deals in this matter while building houses and utilization of five basic elements available freely for the human beings on this Earth.

Vastu plays a vital role in enhancing the positive energy and creating harmonious life within the living space. Vastu Shastra can be considered for home interiors and can also reflect upon while choosing a property.  Buying a house is an important decision everyone has to make in life. In can be a simple apartments or a built bungalow. However, one will be living within those four walls for a long period of time. So it is good to consider simple Vastu criteria’s before buying a property; either for investing or to move in.

Nowadays it is almost impossible to find houses which complies 100% with rules of Vastu. However, if any property complies up to 40% rules of Vastu will do.

This article guides you to choose your dream abode as per Vastu Shastra as well as using Vastu while decorating the space.

Choosing Property as per Vastu

Principles of Vastu can be applied when one is looking to build their dream home. When considering Vastu Shastra, directions are the foremost element that actually decides whether to choose for the property or not and while selecting a plot people should make sure that different elements of universe are positioned in the right direction.

• The first thing that comes into consideration when people purchase a plot is the surroundings. According to Vastu Shastra, a property where any construction or trees block the sunrays in east and north direction should not be preferred. Similarly, if there are pits and pot holes, then also the property might not prove profitable to the people.
• When it comes to shape of the land, Vastu Shastra puts a premium on square pieces of property, where sides are all straight and corners are angled at 90 degrees. These cuts of property are said to be very auspicious in bringing in health, wealth, and happiness and to concentrate this energy. Rectangular shapes are reputed to bring in prosperity and are a close second. However, in an imperfect world, one cannot always find a perfect square or rectangular piece of land. In such an event, plots of land can be subtracted from or added to in order to turn them into squares or rectangles. Each of these additions or subtractions brings its own fortune or loss. A projection in the northeast brings health, wealth, happiness, and progress.
• A property that faces northeast is a good site for constructing homes, offices, and factories. A property that faces northwest is best for trading, for business, and for industrial sites.
• Lots facing roads in different directions also carry their own significance. If a property faces a road to the west, popularity and fame are the outcome. A south road is good for business ventures. Then there are properties that face roads in two directions. A property that faces both north and east is generally auspicious in terms of prosperity.
• Any water features, like lake or rivers should only be along North and East sides. Any other directions is best to avoid
• Houses, rooms or any part of the houses should only have 4 corners. Having more than 4 corners is inauspicious. The positive vibration of the room is reduced. Strictly avoid kitchen along the Northeast and Southwest directions. It destroys the progress of the occupants in many ways. It affects relationship, finance and health. Kitchen should only be along the Southeast zone, which is the Fire sector. The next alternative is Northwest zone, which is the wind sector. This zone is permitted because Wind supports fire. The other 2 sectors, which are Water and Earth destroys fire.
• Nowadays developers always build houses having its master bedroom at the front portion. Having an East facing house is good, but East Master bedroom does not comply with Vastu. Having West or South facing house is average, but positioning of the Master bedroom is good. So one has to compromise either one when buying a house or make structural changes

Home Décor and Vastu

Home décor is a very important element of a house that actually reflects the personality and taste of an individual. From several decades, Vastu principles have been facilitating people to perk up their life and progress at every step, whether it is monetarily or spiritually. Vastu actually focuses upon positioning the things appropriately keeping in mind the right directions and people can effortlessly perform this in their interiors as well as exteriors.

• Positioning chandeliers slightly to the west direction in the room and not completely focusing in the centers is preferred
• The south west directions of the home should be kept clutter free and the heavy objects should be placed in north east direction
• Paintings or photographs depicting war, sad faces, birds like owl, crow, pigeon, etc. should not be used for decoration in the house.
• Prefer curtains of light color for bedroom. Avoid red and black color curtains in bedroom. The curtains of dark color can be used in living room.
• As per Vastu do not keep or place any electronic appliance in bedroom. But if you want to place television in your bedroom then it should be placed in south-east direction. Do not place it in front of the bed. If it is then do cover it at night before going to bed
• According to Vastu, cactus or related plants should never be kept in the house. Plants with red flowers and bonsai of the trees are not allowed in the house. Avoid plants in the northeast corner of the house. Avoid pots along the north and east walls of the house
• Sofa sets or chairs etc. should be kept in the south and west of the living room. The chairs should be so kept as for the owner of the house, or elder person in the house to face towards south or west direction while sitting.
• The kind of paint colours used in the house greatly affects the mood and general nature of the inmates. The psychology of the man can be disturbed is wrong type of colours are used. In entrance of the house, avoid red, black and gray colours, while using white, light blue and dark green colours are good.

Outlook: Commercial Real Estate

• Office rents to start appreciating after mid-2011
• More outright purchases by occupiers as well as private equity players
• IT/ITES and BFSI would continue to account for 60-70% of office demand

Outlook: Residential Real Estate

• Launch of premium products to continue, albeit at a slower pace
• Launch of Ultra Low Cost (ULC) Housing by private developers – ‘Housing for all’
• Large number of launches would continue to be in the range of INR 2,000-3,000 per sq ft at the leapfrogged suburban locations
• Impact on affordability will influence the price and absorption dynamics
• Sustainability to gain focus as the industry looks forward towards IGBC Green Homes standards

Outlook: Retail Real Estate

• More collaborative models such as revenue sharing to emerge in the sector
• Rents to remain stable except select prime locations
• Large number of malls slated to become operational
• Retailers would continue to expand beyond Tier I into Tier II and III cities
• More international retailers to venture into India

Ans.   PAN or Permanent Account Number is a ten-digit alphanumeric code generated by the India’s “Income Tax Department”, that is required by anyone who wish to conduce any kind of financial transaction in India. PAN is required for NRIs or PIOs living abroad  who wish to make investment in India, buy property in India, open Bank account in India, rent out property in India etc

Can NRI/PIO/OCI Repatriate the sale proceeds of immovable property? If so what are the terms?

Ans. In case of residential property, the repatriation of sale proceeds is restricted to not more than two such properties. NRI/PIO are allowed to repatriate an amount upto USD 1 Million per annum.

Is there any restriction on number of residential or commercial properties in respect of which sale proceeds can be repatriated by NRI/PIO/OCI?

Ans. Yes. Any two properties can be sold in a financial year and the amount can be repatriated subject to maximum USD 1 Million.

What are the Due Diligence checks before buying property in India?

Ans.   Several Due Diligence checks can be carried out for safe purchase. Such as clear and marketable title, location, whether all statutory permissions have been obtained by the Builder or Developer.

How can NRI, PIO, Foreigner or Overseas Citizen of India make payment for purchase of residential/commercial property in India?

Ans.  Payment can be made out of (a) funds remitted to India through Normal Banking Channel or (b) funds held in NRE / FCNR (B) / NRO account maintained in India.

Can NRI/PIO/OCI/Foreign National sale his residential / commercial property in India?

Ans.  Yes. NRI /PIO/ Foreign National can sell property in India to a person resident in India or to an NRI or a PIO.

What are the facilities for Returning NRI under Foreign Exchange Management Act?

Ans.  Returning NRIs are offered a bouquet of facilities under Foreign Exchange Law in India. The can continue hold their assets abroad. They can almost “ have their cake and eat it too”.

Can residential or commercial property be Mortgaged?

Ans. Yes, NRI/PIO can mortgage a residential or commercial property to:

(a)   An Authorised Dealer / the housing finance institution in India without the approval of Reserve Bank.

(b)   A party abroad, with the prior approval of the Reserve Bank.

Can NRI/PIO/Foreigner gift his residential / commercial property or receive a gift of property in India?

Ans.  Yes. NRI PIO may gift his property. Yes, NRIs or PIOs can acquire property by way of gift. Agricultural land or plantation or farm house in India cannot be acquired by way of gift.

Can NRIs/PIOs/OCIs let out the property on rent or Lease or leave and License? How safe it is? What is the Law applicable?

Ans. NRI/PIO can let out his property to any person in India. Tenancy  Laws are different in each state in India.

What are the legal obligations of Builder or Developers towards purchase of property?

Ans. Obligation of Builder or Developer is to give clear and marketable title to the buyer. In India various laws are governing property transaction.

Take us through some of the laws if there are any for NRI/PIO or OCI to buy Real Estate in India?

Ans.  Transfer of property Act, Indian Contract Act, Rent Control Act and various laws relating to properties.

What are the steps for investments in Immovable Property in India?

Ans. If possible appoint a local Lawyer who will examine the title of the property and advice accordingly. Opening a Bank account and obtaining Pan Card is compulsorily.

What are rules for selecting Home Loan? Can NRI/PIO/OCI avail of Housing Loan in Rupees from Housing Finance Corporations of Banks in India? How can such Loan be repaid?

Ans.  Yes. NRI/ PIO can avail Housing Loan in Rupees from an Authorized Dealer or Housing Finance Institution.

Can NRI/PIO avail of Housing Loan in Rupees from his employer in India?

Ans. Yes, subject to certain terms and conditions given in Regulation 8A of Notification No. FEMA 4/2000-RB dated May 3, 2000 and A.P. (DIR         Series) Circular No. 27 dated October 10, 2003.

Can NRI/PIO/OCI purchase Agriculture Land or Farm House or Plantation in India?

Ans.  No. Since general permission is not available to NRI/PIO/OCI to purchase agriculture land or farm house or plantation in India, such proposals will require specific approval of Reserve Bank and the proposals are considered in consultation with the Government of India.

Can NRI/PIO/OCI or Foreign National inherit immovable property in India?

Ans.        Yes, NRI/PIO/OCI or Foreign National can inherit and hold immovable property in India from a person who was resident in India. However, a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal and Bhutan should seek specific approval of Reserve Bank for inheriting immovable property in India.

A home loan is sanctioned to the NRIs for any of the following housing finance schemes:
a) To purchase a house that is ready-built, under construction or from a second owner
b) To fund the purchase of a plot of land allotted by a society / development authority.
c) For self-construction of a property on a plot of land
d) For renovation or improvement of an existing property in India

What is the eligibility for obtaining NRI Home Loans?

Your eligibility is calculated in the same way as it is calculated for resident Indians. More emphasis is laid on the following criteria in the appraisal of a NRI case:
a) Qualifications – the NRI applicant has to be a graduate
b) Current job profile & Past work experience
c) Probability of continuing abroad for the loan tenure
d) Probability of servicing the loan with an extended tenure in case you have to return to India.

What is the repayment period for a NRI Home Loan?

The housing finance offered to NRIs normally does not exceed 15 years. The repayment for the loan is via EMIs. The EMIs begin only after the entire loan is disbursed. In case of a part disbursement, you pay simple interest at the rate applicable on the loan amount that is disbursed to you.

How is the mode of payment for NRI home loans?

The loan towards the house has to be paid for the entire tenure of the loan through remittances from abroad through normal banking channels or from such accounts as may be permitted by RBI from time to time. As of today, the payments are done through NRO, NRE, NRNR and FCNR accounts. These accounts change on the basis of RBI permissions to each HFC.

What are the Tax Benefits applicable to Non-Resident Indians?

No tax benefits are available for NRI customers unless you file returns and thereby become eligible to avail the tax benefits as mentioned under Home Loans.

What are the documents required for obtaining Home Loans for NRIs & POIs?

NRIs are required to submit additional documents than is normally required for a resident Indian.

a) A copy of the passport

b) A copy of the works contract (also sometimes referred to as the contract card/labor card)

c) The power of attorney (POA). The POA is required because the borrower is not based in India and in such a scenario; the HFC would need a representative ‘in lieu of’ the NRI to deal with as required. Although not mandatory, the POA is usually drawn on the NRIs parents, wife or children

d) Bank Statement latest 6 months

e) Salary Slip

f) In case of POIs , a copy of the POI card

 “Indian Property Show” scheduled from 12^th-14^th June 2011 at Suntec Convention Centre

 All the expatriate Indians in Singapore, who dream to own property in India, mark your calendars! the much awaited Indian Property show is back on popular demand and is scheduled from 12^th-14^th June at Suntec Convention Centre. Organised by Sumansa Exhibitions, Indian Property Show where you can be assured of best property deals and knowledge to help make your dream come true. The show promises to feature more than 100 projects exhibited by over 30 developers.

The 3 day exhibition offers a snapshot of Indian property market as a whole. Visitors will be able to look at a spectrum of properties available, different investment options, financing sources, Vaastu consultations and sorting out legal queries, all under one roof. The property developers who will be participating include best of the Indian real estate and construction companies such as Unitech Ltd, Vatika Group, Godrej Properties, Hiranandani, , Jaypee Greens, Lokhandwala, Ireo, etc.

“The Indian property show connects buyers and developers at an opportune time, with the Rupee slated to be strong against the dollar and demand for property at a high, we will again witness rise in property prices in India in near future and hence this is a right time for the investors to buy the property. Also those keen to expand their financial portfolios with real estate as a hedge against rising inflation and those looking to maximize their ROI should definitely visit Indian Property Show” said Sunil Jaiswal, CEO Sumansa events.

Adding further he said, “Buoyant with the response we received from Indians across the world , we decided to bring Indian Property Show to Singapore this year. Investors, buyers and Developers all have encouraged us to hold the show. This year we have concluded the show in Durban, Dubai ,London  and now looking forward to similar response from Indians in Singapore

The exhibition also features not-to-be missed property and investment seminars by some of the most influential property industry gurus, international fund managers, and advisers. They will impart knowledge on Role of Vaastu in choosing properties, its implications etc, where as Industry experts will talk about real estate hotspots in Tier 2 & Tier 3 locations such as Gurgaon, Noida, Pune, Navi Mumbai.

Given below are the key points to be considered before investing in Indian real Estate sector.

• Non-Resident Indian (NRI)- that is a citizen of India resident outside India can freely purchase immovable property in India
• The general permission, however, covers only purchase of residential and commercial property and not for purchase of agricultural land / plantation property / farm house in India. such proposals will require specific approval of Reserve Bank and the proposals are considered in consultation with the Government of India.
• An NRI / PIO who has purchased residential / commercial property under general permission, is not required to file any documents with the Reserve Bank.
• There are no restrictions on the number of residential / commercial properties that can be purchased
• A foreign National of Non Indian Origin cannot be a second holder to the immovable property purchased by an NRI
• NRI’s can freely acquire immovable property by way of gift either from
  However; the property can only be commercial or residential. Agricultural land / plantation property / farm house in India cannot be acquired by way of gift

Home loan FAQs for NRIs

For what kinds of property is a NRI eligible for Home loans?

A home loan is sanctioned to the NRIs for any of the following housing finance schemes:
a) To purchase a house that is ready-built, under construction or from a second owner
b) To fund the purchase of a plot of land allotted by a society / development authority.
c) For self-construction of a property on a plot of land
d) For renovation or improvement of an existing property in India

What is the eligibility for obtaining NRI Home Loans?

Your eligibility is calculated in the same way as it is calculated for resident Indians. More emphasis is laid on the following criteria in the appraisal of a NRI case:
a) Qualifications – the NRI applicant has to be a graduate
b) Current job profile & Past work experience
c) Probability of continuing abroad for the loan tenure
d) Probability of servicing the loan with an extended tenure in case you have to return to India.

What is the repayment period for a NRI Home Loan?

The housing finance offered to NRIs normally does not exceed 15 years. The repayment for the loan is via EMIs. The EMIs begin only after the entire loan is disbursed. In case of a part disbursement, you pay simple interest at the rate applicable on the loan amount that is disbursed to you.

How is the mode of payment for NRI home loans?

The loan towards the house has to be paid for the entire tenure of the loan through remittances from abroad through normal banking channels or from such accounts as may be permitted by RBI from time to time. As of today, the payments are done through NRO, NRE, NRNR and FCNR accounts. These accounts change on the basis of RBI permissions to each HFC.

What are the Tax Benefits applicable to Non-Resident Indians?

No tax benefits are available for NRI customers unless you file returns and thereby become eligible to avail the tax benefits as mentioned under Home Loans.

What are the documents required for obtaining Home Loans for NRIs & POIs?

NRIs are required to submit additional documents than is normally required for a resident Indian.

a) A copy of the passport

b) A copy of the works contract (also sometimes referred to as the contract card/labor card)

c) The power of attorney (POA). The POA is required because the borrower is not based in India and in such a scenario; the HFC would need a representative ‘in lieu of’ the NRI to deal with as required. Although not mandatory, the POA is usually drawn on the NRIs parents, wife or children

d) Bank Statement latest 6 months

e) Salary Slip

f) In case of POIs , a copy of the POI card