Foreigners investment as real estate dealer

Sanjeev Dudhat (Querist) 29 March 2012 This query is : Resolved
can real estate dealers from abroad buy and sell properties as a business in Indian cities.

if yes, what are the legal pre conditions for a foreigner to do so?

Under what laws he will have to conduct his business?

is there any licensing authority for such activity.

What are the penal provision if terms and condition and rules are breached.

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Raj Kumar Makkad (Expert) 29 March 2012
A foreigner cannot sale or purchase land in India so your all questions remain irerelevant.

Deepak Nair (Expert) 29 March 2012
No. Real estate firms from abroad cannot buy or sell properties in India.

prabhakar singh (Expert) 30 March 2012

Q???????can real estate dealers from abroad buy and sell properties as a business in Indian cities.??????

Answer....

No! not at all.

Adv. Sagar R. Jadhav (Expert) 31 March 2012
YES FOREIGN REAL ESTATE AGENT CAN SELL AND ALSO GIVE PROPERTIES ON LEASE IN INDIA THROUGH ONLY INDIAN COMPANIES.

INVESTMENT THROUGH LLPS, PARTNERSHIP FIRMS, BRANCH, OR ANY IN ANY OTHER MANNER IS NOT PERMITTED. DIRECT BUSINESS BY NON-RESIDENTS IS NOT PERMITTED.

SO MANY REAL ESTATE COMPANIES IN INDIA HAVE BEEN SET THEIR OFFICES IN INDIA. YOU MAY REFER REAL ESTATE AGENT ACT 2008, ALSO FEMA REGULATIONS AND FDI POLICY (FOREIGN DIRECT INVESTMENT)

Guest (Expert) 04 April 2012
FEMA, Income Tax and Wealth Tax Laws provide guidelines for foreign investments, so far as monetary transactions are concerned. Rest of the company business is regulated under the Company Law.

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