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Buying a Property in India

Investment potential

India’s presence among the BRIC countries shows the potential for the country to be one of the economic leaders in the new world order. As the country has managed to carve itself a niche in the global marketplace that is unable to be matched by any other country in the world, there is huge opportunity for investors to make the most of the booming economy for these new workers.

At the same time, there is plenty of work still to be done. The fact that many unskilled and manual workers still head overseas to earn higher wages is a reflection of the restricted opportunities that are present in India for the lower-paid and less-educated of the Indian population. In fact, the majority of the construction workers in the UAE working on new projects are from the sub-continent as they earn higher wages there and send money home.

The growth of the property market in India has been stratospheric in a very short space of time, the result of which is that in Delhi and some of the biggest cities the growth in supply is beginning to outstrip the growth in demand. Investors are now being attracted to the ‘second tier’ cities that have opened up to the business sectors that have been so successful in the rest of the country. In India, perhaps more than anywhere in the world, the importance of getting in early to the markets is paramount to the success of the opportunity.

Transport

Within towns and cities in India, transport is primarily by road, with a popular and frequent bus service operating in almost all districts, while individuals have either small cars or scooters to get around. Foreign visitors are well-advised to be wary of the chaotic and daunting roads.

Within major cites, there are metro systems available, and as these are generally new networks are clean and efficient, and a cheap form of transport.

India is renowned for the size and disorganization of its railway network, but this is often the fastest way to travel between cities. The rail network is the longest of any country in the world, and the state-run railway company employs more people than any other organization in the world. Don’t expect inter-city trains running at breakneck speed – it can take up to two days to cross the country.

And finally...

India has the potential to be one of the biggest investment markets in the world for overseas property, but the restrictions in place mean that investors have to work hard to get in to the opportunities and make the most of what is on offer. For this reason, it is often overlooked when placed alongside other emerging property destinations, and investors are more likely to be attracted to the fellow BRIC country of Brazil.

All things considered, for buyers who are prepared to make the effort to gain resident status in order to buy, for those who wish to settle permanently or semi-permanently in India, or for those who belong to one of the groups who are able to buy in India without RBI permission, there are some great investment opportunities and leisure-based properties available. Investors should be mindful to get in early to secure the best deals, while leisure buyers can take their time to choose the property or development that is right for them.

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More pages

Page 1: Why India?
Page 2: The property buying process
Page 3: Investment potential

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