NRIs and Real Estate

Valli Palaniappan

For this issue, we have requested Sethuraman Sathappan, Assistant General Manager, India Operations, Scotiabank, India, to discuss about the opportunities available for Non Resident Indians (NRIs) in the real estate sector. He is a regular columnist on the Tamil news daily, Dinamalar, reviewing stock markets and answering questions pertinent to export/import.

He has written several business articles on Tamil magazines such as Kumudham, Thozhil Ulagam, and Maratiya Murasu. He has penned three Tamil books on exports and authored/co-authored books in English for children and expatriates, which were published by Citi Bank.

In the article below, he discusses with us about the investment options open for NRIs, the leasing and selling of the purchased property, repatriation and tax implications, and the ways to deal with the property purchased before one has become the NRI or acquired through gift or inheritance.

You may find his view on what nagarathar NRIs can do—especially for parents and elders of NRI nagarathars who live in India—interesting. He makes an earnest request to NRIs building a city near Chettinad area. He calls such a city =Nagarathar City‘ and dreams of that city having all the modern amenities you can think of.

Get excited? Read on the article and tell us if it was useful to you as an NRI, what you think, and what would like us to talk about in the next issue, and so on. Please reach us through www.achi.org or support.nanal@achi.org. We will publish your views on Letters to the Editor. Refer to Page 2 of this issue for more information on the Letters to the Editor.
 

Dear Fellow Nagarathars and respected members of our community -

It gives me great pleasure in having been chosen as the next NSNA President, 2010-2011, and I accept this honorable position with sincerity and gratitude. I have seen this organization grow by leaps and bounds since its infancy, approximately thirty-five years ago. I hope I will strive up to the standards that the previous presidents have set, and I am very glad to have my EC committee represent this organization for the upcoming 2 years.

Suku V. Sukumar & Palaniappan Kathiresan
NY-NJ-CT Region

Dear Fellow Nagarathars,

The NSNA Web Committee is very excited to announce the next generation of achi.org website. The key features of this release include