Property in India

India’s economic boom has seen a rise in the quality of residential development over the past few years

.India’s complex laws make it difficult for foreign nationals of non-Indian origin to own property in the country unless it is inherited from a national. If you are a person of Indian origin, but not an Indian national then the rules are somewhat different. If in any doubt, seek advice through the High Commission of India.

If you do intend to try and purchase a property then prior approval from the Reserve Bank of India (RBI) must be sought. Approval is normally granted for:

• Investments over US$10m (£5.3m)
• Property to be purchased in Special Economic Zones
• Properties to be purchased on serviced plots
• Properties held on leases of five years or less

On the plus side this discriminatory set of rules are in a slow process of change, and the actual expense of purchasing in India is pretty low. Foreign investors cannot yet benefit as it is forbidden to take out of the country more money than you brought in.

Serviced apartments are a good alternative to short or long-term hotel stays and can be as much as 15-30% cheaper. A serviced apartment in Bangalore might cost from US$45.00 (£24) a day with properties in Mumbai starting from around US$145 (£78).

Rental rates across India depend on the status of the area. Mumbai and Delhi as the principle cities of India have correspondingly higher costs of living. Rents here may vary from INR 5,000 (£59) to INR 20,000 (£235) for a three-room apartment depending on the area.

Delhi enjoys its own Delhi Rent Act wherein the responsibilities of landlord and tenant and all charges payable are specified. Any foreign national wishing to lease a property for longer than five years must first seek the permission of the Reserve Bank.

It is common for foreign nationals to engage domestic servants.

Getting about

India's most significant international airports are Mumbai Delhi, Kolkata Airport, which services Calcutta and Chennai at Madras. The flight time from London to Mumbai is about nine hours.

Indian Airlines runs an extensive service across India, but the classic route for travelling from city to city, and not in a particular hurry, is the legendary rail network.

Like all India’s public transport systems, the railway is massively overcrowded, occasionally uncomfortable and requires a great deal of patience.

Buses are similarly cramped, crowded and uncomfortable. While hiring a car is relatively cheap and easy, India’s drivers are among the most unpredictable in the world and the cities especially crammed with unexpected hazards – not least wandering cows.

Local taxis will generally have an ad hoc approach to fares, while rickshaws will be cheaper but will offer no respite from the excesses of the temperature and the population.