Hi Fenni,
At last someone who is actually out in India telling it how it is.
I love Inida, have been many times over the last 20 years and I would love a second home out there and latterly properties for pure investment. Over the years I have investigated many ways of buying and without being able to permanently relocate and start a real buiness, sadly found it was not possible.
I have spoken to many agents in India and UK, most of whom claim there are legal ways around this problem, not owning the freehold, forming a business (which does not trade), owning a share ...... The result is still the same, if you are not a PIO (Person of indian origin) you can not legally buy ANY sort of property in India.
What I find so frustrating is that in the last few months I have been bombarded on an almost daily basis by respected international Agents and so-called experts recommending property investment in India. I email each of them and ask how they think I as an English person can invest in India and very few seem to think its a problem. There must be hundreds of Brits buying out there, with the very real prospect of losing their money.
Any advice on changing policies, legal loopholes are welcome.
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