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Planning to buy property in India

Planning to buy property in India

Old Oct 16th 2007, 2:57 am
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Default Planning to buy property in India

Hi, I'm new to this site and would like some advice. I am of Indian origin and am currently looking to buy a flat in Northern India (near Chandigarh). I've been in touch with a few of the agents in the UK and their brochures and payment plans seem decent. My question are:

1) Should i still get a lawyer/accountant in India to check out all the details of the planned development - even though i can get a lot of the detail for the agents in London?

2) Which banks provide mortgages for buying homes in India?

3) Has anyone bought a property in india recently and what was it like. It used to be a nightmare a few years back, but the process seems to have got simpler.

4) Also, there is a lot of development going on around Chandigarh - is that a sign of the area being on the up (lots of IT companies are locating their offices in the vicinity) or does it mean that there will be a glut of flats/houses when you want to sell up.

Many thanks for any advice/tips.
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Old Oct 16th 2007, 7:01 am
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Default Re: Planning to buy property in India

Just out of interest can you buy the land there freehold?
Are you an Indian national?
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Old Oct 16th 2007, 9:26 pm
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Default Re: Planning to buy property in India

I am a British national. Used to have an indian passport as was born in india, but changed that years ago.

Can still buy land freehold if you are PIO or NRI
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Old Oct 17th 2007, 5:07 am
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Default Re: Planning to buy property in India

Originally Posted by patwal
I am a British national. Used to have an indian passport as was born in india, but changed that years ago.

Can still buy land freehold if you are PIO or NRI
Understood ......... I just read a lot about FNI buying property in Goa and being stung
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