Regarding being present in India when purchasing I had this knowledge that in case you are not present and someone else gets the regn done on your behalf , later when you get the regn transferred you might have to incur the regn amount which goes into lakhs of rupees depending on the property price . Please clarify.

Also someone advised that it is better to take a bank loan as then the ownership becomes joint and the Bank makes its own findings which saves you the risk of buying a fraudelent property.

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Fido.

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Originally posted by Fido

Regarding being present in India when purchasing I had this knowledge that in case you are not present and someone else gets the regn done on your behalf , later when you get the regn transferred you might have to incur the regn amount which goes into lakhs of rupees depending on the property price . Please clarify.

Also someone advised that it is better to take a bank loan as then the ownership becomes joint and the Bank makes its own findings which saves you the risk of buying a fraudelent property.

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Thanks DIO ,

That clarifies the POA issue .

The reason why someone recommended Bank to be involved was that there may be deals which may be unclear or fraudelent ~ as layman we may not be able to make correct findings but if the bank is involved , even for a small share it will make its own findings before sanctioning the loan - confirming the authenticity of the deal .

My doubt is such a case is ~ can a Bank advance you money for property , in your absence if you have an NRE / NRO a/c with them . I know better to ask the Bank but wondering if there is anybody who s experienced this .

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Fido.

Quote:

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Originally posted by Fido
Thanks DIO ,
That clarifies the POA issue .

The reason why someone recommended Bank to be involved was that there may be deals which may be unclear or fraudelent ~ as layman we may not be able to make correct findings but if the bank is involved , even for a small share it will make its own findings before sanctioning the loan - confirming the authenticity of the deal .

My doubt is such a case is ~ can a Bank advance you money for property , in your absence if you have an NRE / NRO a/c with them . I know better to ask the Bank but wondering if there is anybody who s experienced this .

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That clarifies most of my doubts .

Thanks

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Fido.

A friend of mine sent me the clip.


BANGALORE: The Rs 4,400 crore Alliance Group will invest Rs 100 crore to launch the country's first 24-hour real estate information channel next month.

"It will provide comprehensive, latest and authentic updates on all aspects of real estate, including infrastructure, to viewers all over the country, the south and south-east Asian region and Gulf states where there is a strong NRI presence," Alliance Chairman and Managing Director Manoj Namburu.

Real Estate TV, a pan-India English-language channel was being put together under the guidance of media personality Sashi Kumar by a team of media professionals led by Chief Operating Officer T K Vibhaker, Namburu said.

With news bureaus and studios in Mumbai, Delhi-NCR, Chennai, Bangalore, Hyderabad and Kolkata, a wide information- gathering network across India, and research and analysis facility in Delhi, Real Estate TV will be "the one-stop shop for anything and everything connected with this industry and the large number of other industries connected to it," said Sashi Kumar

Dear CD's,
This is from my mentor who is a Citizen of Australia. Every year he comes to Chennai and buys property for his only daughter. He sent me the following when i told him that i wanted to buy a property at Chennai.
Hope this is useful to you all

TK A


In that case you can look for a flat in Velachery. The sq ft is around Rs
4000. therefore if you are looking for a 1000 sq ft will be around 40 laks
and then registration on top of it.

If you are going for a land and contruct, then Pallikaranai is the best
place. Sri perumbudur is booming but not any housing activity going on in
that area. the land in Velachery is around 60 lakhs (2400 sq ft - you have
to hunt for it - and not easily available)

Hope this helps.
*******************************************
TK,

It is high time to buy a
piece of land in Chennai - say Sriperumbudur or Padappai. I bought a land
in Padappai a year ago and the sq ft was Rs 95/-. Today up further 5kms
away from my plot another plot is being sold at Rs.650/- a sq ft.

So please invest asap.

Another land bought in Sriperumbudur just six months ago was bought for Rs
200/- a sq ft. Today becos of the international airport coming up the
neighbouring plots when I checked up is around 600 rs a sq ft. A city
called infotech city is coming up in this area. Sunguvarchatiram is the
next suburb to Sriperumbudur. Invest at least 2-3 grounds here and you
will be laughing in 2-3 years time.

If you want I will give you the detail of a selling agent who is a good
friend of mine. He is now selling plots near Porur (between porur and
Poonamallee - This is good for investment and ready for construction a
house also in 2-3 years time. Very well established area. If you are
interested let me know or call me sometime during this weekend to discuss.



P.S. -> I am not soliciting.

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I am a Gents and not a Ladies.