Real Estate Regulations in India

08/01/2015 8:43 AM IST | Updated 15/07/2016 8:24 AM IST

During the September 2014 visit to USA of the dynamic Indian Prime Minister Modi, an invitation was extended to President Obama to be the Chief Guest to inaugurate India's 66th Republic Day function on January 26, 2015 at New Delhi, which he has gracefully accepted. Obama will be the first US President to grace the occasion as the Chief Guest. It will be a source of great joy to see the leader of the oldest democracy commemorating the foundation of the largest democracy in the world, to celebrate the spirit of democracy !

It will be a historic day when the heads of the two countries meet. Both countries share lot of common values which we all know. However, there are some areas, where India has to learn from USA. One such area is real estate. Why?

In USA, real estate is very well regulated, starting with licensing for real estate agents and brokers and also for mortgage consultants, escrow companies, transaction coordinators and so on. It is not so in India at present although, Real Estate Regulations are already being discussed at various forums and also in the Parliament.

Already, PM Modi has introduced cleanliness drive throughout the country. He is determined to bring about qualitative change in the life of every Indian. Being a realtor from California, I wanted to know from my friends in India, as to what is the impact of the new PM on the real estate sector in India.

Recently Century 21 has entered India, which is the largest residential sales organisation in the world. During my recent visit to Mumbai, I had the privilege of interviewing the CEO of Century 21 India. The interview is covered by a 12-minute video below.

The conclusion arrived at after the interview is that this is surely the right time to invest in India, since the prices are stable, bargain deals are available and the Dollar to Rupee exchange rate is very much favourable.

Readers of this bog and viewers of the video are most welcome to make comments and ask questions in the conversation section below this blog. Thank you!

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