We are now having a look at why PROPERTY INVESTMENT can be a GOOD OPPORTUNITY for the NRI.
The generally liberal policies of the Government have been very helpful for the NRI investor subject to the compliance of FEMA.
That there is no restriction on the number of properties they can purchase in India is a great advantage.
Besides, they do not require the RBI permission as is wanted in several other spheres.
Banks have been willing contributors to the NRI’s who wanted to add such an asset treating them on par with Resident Indians.
Payments for purchase can be made through funds remitted from abroad or out of balances in their NRE NRO FCNR accounts.
In case of the NRI’s inability to travel to India in the course of a sale, the facility of Power of Attorney given to a close relative is very helpful.
Stamp duty and Registrations processes are quite easy to understand and friendly.
Loan Repayments are permissible from in he NRI’s FCNR / NRO / or NRE a/c or a relative can be deputed to repay the same.
The Rental advantage is always there in that the rental returns have been steady and worthwhile.
Investment in India makes sense because of a disciplined stock market and its professional regulation.
The feel-good feeling given by the Indian economy is a shawl of security.
Stabilization of markets , earlier on , have been helpful to the cause of providing trust.
The proposed single window investment promotion council planned by the Government looks a good promise to remove the red tape.
To an NRI, a base in the homeland is an added security.
The revision in investor laws has allowed a surge of investment.
NRI‘s can set up family trusts abroad for education of his children/ maintenance of his family members. Such trusts can also be Asset Protection Trusts( including property ) where the assets held by the trust are free from attachment by the creditors.
Compared to times by-gone where the NRI was confronted from the Local Panchayat /Municipal /Corporation levels and was struggling to set foothold with property laws,income tax laws,wealth tax issues, succession legislation,land ceilings and others times have changed to welcoming the NRI’s with a red carpet and they in turn giving such an extraordinary response.
And lastly, the depreciating Indian Rupee has proved a great advantage in that the NRI gets “so much more for less”.
AROUND AN HOUR’S DRIVE FROM CHENNAI from the city’s hustle and bustle is a 77 acre ,120 villa hide out planned for the city’s elite.
Sheltered in quarter and half-acreage plots that allows one to unwind with family and friends on weekends and holidays midst a vast expanse of greenery where one can relax in the garden , be lost in books, or be stunned by the peace and elevated into a totally different world altogether!
That is TAPOVAN for you conceptualized by MARG ProperTies offering life’s simple joys in a 5000 fully grown tree expanse. This is surely a place where you can rejuvenate your mind body and soul.
The club-house has a game room for table-tennis, chess, football, cards in addition to the sit out, visitor’s lounge, separate spa’s for women and men, PS 3 and a children’s play area.
The Jacuzzi,Spa,Gym,Battery operated carts,Inter-Com,Net cricket facility,library,modular kitchen will form part of the indoor activity while a tennis court,basketball court,Golf Putting Green - all part of the club house out-doors functional from 2014.
The EXPERIENTIAL VILLA allows prospects an idea to see and experience first hand the lifestyle that will envelop their lives – wooden panelled master bed-room, home theatre, modular and island kitchen, high roofed living room ceiling,the french windows opening into expansive views of lush greenery,the living room opening into the patio , very spacious bedrooms and guest rooms , servant quarters and a car porch – all of it giving a semi-palatial feel.
It is laudable that VIVEK has roped in school and college students as his ambassadors in the GREEN KALAM initiative OF PLANTING SAPLINGS .
MARG , having the mission of giving the best homes in India is a partner involved in the GREEN KALAM initiative by providing schools, homes, businesses and organisations with the kind of tools and taining required to promote ecology and a culture of conservation.
Their contribution to their share of saplings, part of the million saplings project has brought in praise from all quarters.
MARG is extremely proud to be partner in this initiative with the thought ” THINK GLOBAL, ACT LOCAL”
The mission to GO GREEN initiated by the comedian VIVEK on a suggestion of former President KALAM will help MARG keep its commitment to pay back to society in the cause of environment.
We are looking into the current scenario on housing which has been affected in 2011 by the marginal increase in housing loan rates. Having enjoyed the boom time and teaser loans for nearly a couple of years, the home loan customer is now confronted with decreased loan components and increased home loan rates, however small the increase may be.
Interest Rates in the loans for a home depends on the quantum of loan one would want to take. The tenure ,buying a new home or purchasing a plot and constructing ,the profile of the individual and his credit history are the major determinants in the quantum of home loan.
Different lenders follow different methodologies.
A) FIXED HOME LOANS WITH A RESET CLAUSE :
Here rates are fixed for an agreed period and revised thereafter. These have small 2-5 years as a fixed component and are more reasonable to the borrower.
B) FIXED HOME LOANS WITHOUT A RESET CLAUSE :
The interest component does not change for the entire tenure of loan. They are the most expensive kind.
C) FLOATING RATE HOME LOAN:
These rates may change at any point of time with the borrower’s EMI changing as also his privilege to change the quantum of loan. They are linked to the Bank’s Base Rate and change over periods of time due to a variety of factors.
Not to worry, because the average middle class Indian is always in a need to add a home to his asset base and this could be the best time to do so for a variety of reasons.
While Europe’s Banks are in a lending squeeze and American housing has been witnessing a down trend for the last several years, the Indian situation is vastly different and healthy because the substantial borrower’s contribution has been a significant hedge in any home loan transaction in stark contrast to low borrower’s contribution component in the USA.
Besides the removal of the foreclosure penal provision that the RBI has sent in its latest circular to Banks is a boon to many existing borrowers and an assurance to the current borrower that he will not unnecessarily lose his money should he chose to repay earlier than scheduled .
Strengthening the position of Bank lending out of concern following excess flow of banking funds the RBI restricted the Home Loan to 80% of the cost of property. But otherwise, the Government has taken supportive view on home loans in tandem to its commitment and has continued the teaser loans till March 2011. SBI ended its teaser rates from April 30, 2011 and other lenders followed suit. Coinciding with a hike in the BBR in May 2011 , SBI dropped the prepayment charges on home loan schemes- a small savings for the buyer. Currently, the interest rates have stabilized at 10.5%. With inflation under 9% and low economic growth rate, no more hikes are expected for the next quarter. Many banks have come with renewed attractive fixed schemes for 1-5 year periods.Conversions have been made relatively hassle free.
The SBI Home Loans have a major advantage in that they use the daily reducing balance method, have very low processing charges, have no hidden costs,minimal or negligible administrative charges,no prepayment penalties and a wide net work of branches to chose from.
Over all, the scenario promises to stabilize itself in the foreseeable future and the best time to buy your home could be now.
This is to present a factual background in relation to the alleged dog carcasses being found near MARG Swarnabhoomi.
Local sources have informed us that this slaying of dogs has been done by persons working in the Cheyur Panchayat and we have reported the matter to the village panchayat public representatives of Kodur, Seekinankuppam and Madayambakkam and they are well aware of this matter.
These practices have been prevalent for a long time in the villages and we are in full agreement that this should stop with immediate effect.
As an urgent endeavour on our part , we now propose to work closely with Blue Cross & the Village Panchayats in the near vicinity of MARG Swarnabhoomi to vaccinate the 600 odd dogs currently in the area, with the intent of not just eradicating rabies but also to develop sensitivity and compassion towards the stray dogs.
In the meantime, we are also doing an internal due diligence to find if any of our employees were aware of this incident and if they were, then how come they did not show compassion to the dogs?
After this internal investigation, we will present the case to concerned and ensure that the culprits are brought to justice.
This unfortunate incident has saddened the entire MARG family that is known for corporate governance and ethical standards. We pledge that we will selflessly work in our areas of impact to try and avoid any such incident in the future.
