Buying Land in India- A tricky business

#1 Oct 26th, 2007, 15:38
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#1
There has been many Qs about how to grab a land in India.

Recently I came acrross a news in front page in THE ECONOMIC TIMES OF INDIA heading was " Foreigners land in agri zone".Here are the step wise moves.

Farmer sells the land to an SPV ( special purpose vehicle) controlled by family and associates of a real easte developer.

Developer moves application with local authority to convert land in to commercial plot.

Foreign Investors forms own SPV and infuses money into it.

SPV owned by foreign investor gives deposits or advance to SPV set up by Indian realtor.

Once land gets non agri tag,SPV built by foreugn investor buys shares of Indian SPV.

Foreign investor thus gets control and ownership of the plot.

This sounds a real tricky business of owning lands in India.
and its happening.
#2 Oct 26th, 2007, 23:14
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#2
Hi Sanjay
Will start saving my pennies..but in the mean time will have to stay at the RANGERS..the Best Place in town!

Haemish
Elvis Has Left The Building
#3 Oct 26th, 2007, 23:53
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rangers, what you have explained hardly reflects the complexity and ruthlessness that is seen in reality. The farmer "selling land" and the developer "converting the land" are murky processes that is usually achieved by criminal means.
#4 Nov 4th, 2007, 23:45
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Well I have not seen those angels of deepness and criminal point of view.
And since WTO things have changed for man, mankind , and ecomonics of criminals.
It was a News.

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