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Property management is a third-party contractor's daily control of the residential, commercial, or industrial real estate. Property managers are often in charge of day-to-day repairs and continuing maintenance, security, and upkeep of buildings. They typically work with investors who own apartment and condominium complexes, private home communities, shopping malls, and industrial parks.Read more
The Foreign Exchange Management Act (FEMA), which is overseen by the Reserve Bank of India, governs the purchase and acquisition of immovable assets in India by non-residents (RBI). For FEMA purposes, a Non Resident Indian (NRI) is an Indian citizen who resides outside of India. OCI refers to a non-Indian citizen who was born in India or whose parents or grandparents were born there (Overseas Citizen of India). For the sake of our discussion, I will refer to both NRIs and OCIs as NRIs because they are considered equally for real estate investment. The provisions that apply to NRIs and OCIs are the focus of this discussion.Read more
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