Royal Garden Villas and Resort® Luxury Real Estate in India

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Frequently Asked Questions If you have any specific queries that are not answered on this page, please Contact Us.Luxury Housing India - FAQQ: Can Non-Nri's and Non Indian Citizens buy and sell real estate in India?A: Yes. As per the Indian Regulations, if you are not of Indian descent and you wish to acquire residential property, you may:i) apply to the Reserve Bank of India (RBI) for permission;orii) incorporate a company in India and thereafter buy the property in the name of the Indian Company and for the business activity of that company.________________________________________________1) Why buy a home at Royal Garden Villas & Resort at Tuscany Hills?Why? Because our Bangalore properties combine natural beauty with rapidly rising real estate prices (due to the proximity of the new Bangalore airport) make your investment into luxury housing in India, one of the best investments in India. The airport, with its 500-acre commercial city and anticipated six million travelers, is expected to become a major connecting hub serving numerous destinations around the globe. Residents at Royal Garden Villas & Resort, situated just 14 miles from the new airport, will see their luxury villa properties rapidly escalate in value as Fortune 500 and IT companies relocate to north Bangalore. The area has already experienced accelerated growth with Bangalore property values rising as much as 70% in the last 12 months and prices doubling every three years. The Bangalore property market is one of the world's real estate hot spots, ranking only behind Tokyo. Buying Bangalore properties in the area surrounding the Bangalore airport, with its great climate, location and low property prices, is attracting thousands of investors every month. The Indian Census Bureau predicts Bangalore will have three million new residents by 2012, up from its present six million population.2) What makes Royal Garden Villas & Resort so special?Royal Garden Resort & Villas at Tuscany Hills is a residential resort like no other. It has been conceived to fulfill your dreams of an ideal international community with a wonderful array of amenities to suit everyone's interests. In addition to spacious and luxuriously appointed apartments and villas, we offer a five-star hotel, chateau and winery, an Old World village square with a selection of international shops, lighted tennis courts, an equestrian center, and Hollibrook Farm, an organic farm with fruit orchards. Our property will also feature a world-class spa, luxurious Pool Pavilion, Racquet Club, state-of-the-art Fitness Center, walking/jogging trails, shuttle service, supermarket, office space with a business center and high-speed Internet access, manned security, concierge service and a variety of international restaurants and pubs. A subsequent phase will feature an 18-hole championship Golf Course surrounded by luxury villas.3) What company is behind this project?Royal Indian Raj International Corporation (RIRIC), an international real estate developer with offices in Vancouver, London, New York and Bangalore India, combines a commitment to the highest possible standards in building and design with a unique knowledge of India's past, present and future. The company is focused on building a New India by incorporating world-class technologies into the country's select infrastructure areas.4) Who will build Royal Garden Villas & Resort?Planet 3 Studios, winners of the Young Designer 2005 Award by Indian Architect and Builder Magazine, has been awarded the contract to design the project. We are partnered with international firms for the construction of Royal Garden Villas & Resort. Phase I is set on 17 pristine acres. Phases II and III, which will enlarge Royal Garden Villas to 400+ acres. Each luxury villa will enjoy expansive floor plans, balconies and terraces, imported marble flooring, granite countertops, and ceramic tiles.5) Is buying a home at Royal Garden Villas a good investment?According to the McKinsey Report, Bangalore is increasing from its present six million population to nine million by 2011. In addition, Bangalore has now been ranked No. 2 on the world's real estate chart, trailing only Tokyo as the planet's hottest real estate market. This year, 9.3 million sq. ft. of commercial space is expected to be absorbed in Bangalore. The suburbs have seen a lot of real estate developments over the last few years, particularly east of Bangalore, in areas like Whitefield, Outer Ring Road, Sarjapur Road etc. However, construction of the new international airport has begun at Devanahalli and real estate developers have started taking a fresh look at the northern parts of the city. Presently the city has expanded up to Jakkur and Yelahanka in the northern side. Bangalore land values are expected to continue to increase 30%-40% per year. No one can predict exactly what the Bangalore properties market is likely to do, but the market is still rising so anything you buy now is likely to double in value in three to four years.6) How will the new airport impact Royal Garden Villas?When the Bangalore airport becomes operational in 2008, there will be a rapid urbanization of the Devanahalli area and north Bangalore. The old airport will be closed in the south. Corporations like Infosys and Fidelity are expected to build new campuses since they have already Bangalore land. Wipro and other corporations are said to be on the lookout for suitable land parcels for future development. Surveys by Chesterton Meghraj indicate that some of the five-star hotel chains are looking to locate their hotels here in the future. The Oberoi Hotel group is said to own some land in the Devanahalli area and other hotel groups are contemplating hotels, which can be launched when the airport becomes operational. Six million people are expected to pass through the Bangalore airport every year. Many will be business people who will stay at our five-star hotel. Many others will be residents who enjoy the short commute to our luxury Bangalore properties.7) Why should I live north of Bangalore?There are many reasons why, but let's start with congestion and smog. Bangalore is one of India's fastest growing metropolitan cities, but its toxic air is choking the lungs of its children. Seven to eight hundred thousand lakh children (over 50%) suffer from coughing, wheezing and other respiratory ailments due to the alarming air pollution levels. Much of the pollution is caused by the tens of thousands of vehicles clogging Bangalore's streets. At Royal Garden Villas, the air is clean and the grounds are as green and peaceful as a botanical garden.8) How close to the site are schools, religious facilities and markets?Within 3-4 miles there are religious facilities, schools, banks, medical clinics, markets, and local government offices. Royal Garden Villas will be self-sufficient with shops, restaurants, offices, and a supermarket. We will also offer daily shuttle service to downtown Bangalore.9) How far is the commute to Bangalore?The highway from the city to our luxury Bangalore properties is being upgraded and widened. If you have to commute, the time varies from 30-40 minutes. The good news is that many IT firms and Fortune 500 companies are moving north of the city to be within easy reach of the new Bangalore airport. The area surrounding the Bangalore airport will soon be a thriving metropolis as people migrate north to escape Bangalore's congestion and smog. Royal Garden Villas is situated just 14 miles from the new Bangalore airport and will become a magnet for residents wishing to escape to a tranquil, peaceful community.10) Has the land been acquired for the next two phases?We have agreements in place to acquire the land for Phases II & III.11) Are the highways in good condition from Bangalore to Royal Garden Villas and the new airport?The NH-7 is currently being widened so as to have a six-lane road throughout its length from Hebbal to Devanahalli. This will be the main access route to and from central Bangalore to the new Bangalore airport and its new surrounding airport city. Apart from this the Bangalore airport will be accessible through a four-lane road (NH-220) starting from Hosur Road in the south and intersecting Sarjapur road, Old Madras Road and NH-4 near Hoskote. This four-lane road will perhaps be the most suitable route for all the corporate company's personnel, who will move to and from the Bangalore airport and the corporate hubs in southern and eastern Bangalore.12) What if the plans and permits are not granted for Phase I?The property has been converted for the purposes of development and all permissions have been approved. We are awaiting approval of the final permit, which is expected shortly.13) Is Royal Indian Raj planning other projects in India?Yes. Royal Garden City, Bangalore on 3,000 to 5,000+ acres near the new Bangalore International Airport and Royal Garden City and Financial Harbor, Mumbai on 3,000 acres. In addition, we have proposed Royal Garden Cities in Delhi and Kolkata.14) What are the different types and sizes of apartments?Royal Garden Villas offers several floor plans of two, three, four, and five-bedroom apartments and villas. Our floor plans range from 1,045 sq. ft. to 6,200 sq. ft.15) Is there a clubhouse and what are the other facilities?Yes. We offer a luxurious Pool Pavilion, state-of-the-art fitness center, lighted tennis courts, squash court, world-class spa and riding, walking and jogging trails. Royal Garden Villas will provide free membership to all residents to our Pool Pavilion. Nominal usage charges will be assessed for use of the lighted tennis courts, health club, and spa. In addition, an 18-hole championship Jack Nicklaus Signature Golf Course is planned for Phase II.16) How do I book my home at Royal Garden Villas? -- Two simple steps!1) Submit a contact form. Upon receipt of your form, a sales representative will be assigned to you, who will contact you via either email or phone and supply you with a booking agreement form.2) Complete your booking agreement form and return it to us with your down payment. The down payment amount is 30% of the listed purchase price.17) What happens after I book my new home?You will be required to pay the remaining 70% balance in 18 equal bi-monthly (every other month). Groundbreaking is anticipated in July/Aug 2008. Your payments will begin in July/Aug 2008.18) When do I get a confirmed allotment?On payment of your 30% down payment.19) How are installments to be paid?Installments are to be paid by post-dated checks, which is a pre-condition of the allotment. The payment schedule is 18 equal bi-monthly payments. The payments are not linked to the progress of the construction, but on a time bound basis as the delivery date has been established. If checks are dishonored the booking stands automatically cancelled. It is the purchaser's responsibility to ensure timely disbursement of installments from HFI's and no demand will be made by us of the HFI's for the disbursal of installments. To facilitate smooth payments, customers are required to issue a consent letter. Postdated checks for the installments paid will be returned on receipt of the institutional payment. Bank financing is applicable only after permits and permissions have been granted on the property and the executed sales agreement and purchase of sale with banks has been executed.20) Will prices change?We anticipate prices will escalate for Phases II and III.21) What happens if I cancel my booking?If you cancel, then 25% of your down payment would be forfeited as a cancellation fee and deducted on cancellation of a booking and the balance will be refunded only after making a new sale of the apartment or villa.22) Can two flats be bought and combined into one luxury flat?No. We offer a wide variety of floor plans and homes, so no combinations are necessary.23) Are modifications permitted in the apartments?Yes, depending on the stage of construction. All modifications will be completed at an additional expense. No modifications will be allowed three months prior to tentative handover date of the home.24) Will parking be provided to homeowners?We will provide one car parking space for every owner. Additional car parking will be offered at additional cost.25) Is the title of the Bangalore property clear?Absolutely. The Bangalore property is freehold, marketable and free from all encumbrances.26) Will there be any future legal complications from the previous owners?No. All the legalities have been thoroughly checked for the Bangalore property and the titles of the land are crystal-clear.27) Are there any free amenities provided by Royal Garden Villas?Homeowners will have free access to our luxurious pool pavilion. Nominal usage charges for the health club, spa, and tennis courts will be assessed on use. Your maintenance fees will be used to properly maintain and repair all the amenities. Charges for the use of the Jack Nicklaus Signature Golf Course apply on a per-use basis.28) When will construction commence and when will RGV be completed?Phase I is scheduled for January 2009 and the start of construction of Phase II will follow immediately. Phase I is due to be completed in 18-24 months.29) Are any finance facilities available?Royal Garden Villas is affiliated with major banks such as HSBC, ICICI, State Bank of India, ABN Amro and several others, and financing up to 70% can be availed when permissions are granted.30) What are the maintenance costs?The maintenance charge is Rs. 25/-per sq. ft. and will be collected annually. This maintenance charge shall be for upkeep of roads, security, gardens, electricity charges of the common areas of the layout, cleanliness of the layout and maintenance of the amenities. From the second year onwards, maintenance charges will be levied on a quarterly basis payable in advance. All future payments are to be made favoring the property management company and payable as listed above.31) Are there any other charges?The Sinking Fund is Rs. 25/-per sq. ft. per year. We have a statutory obligation to collect a Sinking Fund. This is done so that in case any building needs to be repaired or reconstructed in the future, we have sufficient funds to carry out the work. This could be to carry out reconstruction, repairs, structural additions or alterations to the building as the architect thinks is required and certifies. We have chosen to make the sinking fund an annual fee for the time being. We feel that in order to provide and maintain international standards and receive appropriate finance for repairs, upkeep and damages to the properties, an annual sinking fund fee paid to the Strata Council is necessary. If, in the future, the Strata Council feels enough funds have accumulated in the sinking fund, they can choose to end the payments. This amount will be deposited in an escrow account and the accruals will be used for major expenditure.One-time charges include a 8.5% market value of the unit as stamp duty and 1% of the market value fixed by the government as registration expenses. Totally it is 9.5% of the market valuation fixed by the government. The market valuation is fixed by the government. The valuation is fixed by the government from time to time. Additional charges also include legal fees, external infrastructure charges for electricity, water & sanitary, and service charges towards property assessment. VAT, service taxes and any other statutory levies as applicable are payable at actual on demand.32) How many floors are in each building and how many apartments are there per floor?Our buildings are ground + three with one apartment per floor.33) Has BDA sanctioned Royal Garden Villas?All permissions have been approved. A final building permit is expected to be approved shortly.34) Who is responsible for the maintenance of Royal Garden Villas?Royal Indian Raj will care and maintain Royal Garden Villas as a Signature Property.35) I'm an NRI from the United States. How secure will my home be while I'm away?Very secure. Our security staff will be aware of your absence and our maintenance staff will assure your peace of mind by maintaining your home in the same condition - if not better - than if you were there yourself.36) Do I get taxed by the U.S. government on bringing back profits after paying capital gains in India?Yes, capital gains on NRI investments are taxed by the U.S. government. Approximately 15% on the capital gains, less whatever tax paid in India. (it means one can offset tax paid in India against tax payable in the U.S.)37) What are the ramifications of repatriation when a foreigner (not of Indian origin) buys property in India?One has to obtain permission from Reserve Bank of India for repatriation of NRI property sale proceeds and there is no general permission for repatriation. Reserve Bank of India may give permission to repatriate only the amount invested in NRI real estate or the sale proceeds less taxes on a case to case basis.38) With respect to the maintenance fees, is there a cap on how fast they can increase?No. There may be an increase in the maintenance cost, due to the annual increase in staff salaries and the cost of maintenance. For example, electrical and civil repairs involve materials whose prices vary daily; as well landscaping costs also vary.39) On Page 4 of the booking agreement, there are some fees listed in the table at the bottom (Legal verification $75, Finalization of construction agreement and agreement to sell $120, ...). Is the buyer responsible for these fees and when does this have to be paid?Yes, the buyer is responsible for the above-mentioned fees, but you can use your own lawyer, if you wish. The legal verification fee has to be paid during the inspection of documents like Khata, sale deed, encumbrance certificates etc. The Agreement to sell and the Construction Agreement fees can be paid during the time of possession, when the documents are filed.40) At the bottom of the same table on Page 4, it states "All the fees mentioned above will exclude some miscellaneous expenses which will be charged on actual." What are these miscellaneous expenses and how much are they?If any other legal documentation's have to be done based on your requirement or according to the prevailing procedure in the future, that is when these charges will occur. These miscellaneous charges will be charged according to the type of work.41) On line item 27, it states "Assignment will be entertained only after signing the agreement to Sell and Construction Agreement and after payment of the transfer fee of Rs 100 per square foot and subject to the assignee agreeing to comply with the earlier terms of conditions agreed by the Assignor." Who is responsible for the Rs 100 sq feet transfer fee. Is it the seller or the buyer?The RGCEPL customer will pay the fee because he is the one transferring the unit and the unit's documents into the buyer's name.42) Based on RBI rules, do you have to hold the property for at least 3 years from taking assignment/possession or 3 years from original investment?It is usually from the time of the investment, but we are seeking a clarification from our Indian accountants and lawyers.43) On line item 11 of the booking agreement, it states "I/we shall pay the costs such as the sales tax, deposit for electricity, water supply charges, sewerage charges and costs relating to extra works such as mesh, grill etc as may be required for the villa. I will also bear the Registration charges/KEB/BWSSB charges as applicable at the time of the registration." Which of the charges are relevant for an apartment vs. a villa? How much is the sales tax? Is it included in the purchase price? What are the registration charges and what is the expected amount?All the above-mentioned costs are applicable to apartments as well as luxury villas. The sales tax is 4% of the total cost of the unit you choose to buy. No, it is not included in the purchase price. The registration amount is tentative and will follow the prevailing rates per sq. ft. at the time. Currently it is about 120 Rs per square foot. The other charges for mesh, grill etc. are considered to be the modification amounts. These are not provided by default. This can be provided to the customer if he wishes for one at the RGCEPL prices. The entire modification amount can be finalized at the time of possession, which is during the final settlement.44) What is the current brokerage fee for selling a property in India?The brokerage fee is 2% of the total amount of the unit.45) Does Royal Indian Raj Corporation provide property management services in the event that I would want to rent the property for a certain portion of the year? What is the expected monthly rent for this location and for the type of property that I am interested in?RIRIC will be providing professional property and hotel management services from a industry leader for a management fee. Our Concierge Rental Program will be available to maintain and manage your luxury villa or apartment home while you are away. The monthly rent can't be determined at this time. However, it's fair to say that when your home is completed in two years, rents will be significantly higher than existing rates because of the new Bangalore airport. Your property will be located only 14 miles from the new airport, making it one of the best investments in India with its projected six million annual passenger flow, so we expect significant demand for our exclusive residential resort.46) Can we have multiple holders listed on the title (i.e. my brother and I) since this would be a joint property investment?Yes, you can have multiple holders. Even if it is purchased by cash, you can register the property in both names by following normal procedures.47) On the FAQ, it states that Royal Indian Raj has clear title for the land/development free of all encumbrances. Can you provide copies of a clear title? What if there is title dispute later? Is there such a thing as title insurance and who pays for that? Would the builder indemnify investors if there is a title dispute prior to completion of construction?Yes, copies of deeds and titles can be provided on request. One of India's top judges, Justice Michael Saldana, has confirmed our clear title. In the event of a dispute that can't be resolved, any monies paid by you will be refunded.48) Why is RIRIC involved in this project?We realize the acute need for building satellite communities around India's major cities. These communities will appeal to executives, self-employed workers, retiree's, and NRIs. The location of the community is intended to alter the local village structure as it has existed for generations. We intend to create jobs, improve agriculture, provide local farmers with guaranteed markets for their produce, improve living conditions, and most importantly, provide for the elderly and children. We feel it is our responsibility to build a school for the local children, provide medical facilities for all, and support processing plants for local farmers.49) Can Non-Nri's and Non Indian Citizens buy and sell real estate in India?Yes. As per the Indian Regulations, if you are not of Indian descent and you wish to acquire residential property, you may:i) apply to the Reserve Bank of India (RBI) for permission;orii) incorporate a company in India and thereafter buy the property in the name of the Indian Company and for the business activity of that company.
For NRI If you have any specific queries that are not answered on this page, please Contact Us.Disclaimer: The purpose of this FAQ is to provide the visitors of this site a general understanding on the various issues relating to NRI real estate Investments within the Indian housing sector. The following FAQ been prepared on the basis of advice received on planning for making an NRI investment and may vary from person to person, based on facts of such case. Reasonable efforts have been taken in collecting, preparing and providing quality information, but we do not warrant or guarantee the accuracy, completeness, adequacy or currency of the information. The contents of this FAQ page relating to NRI investments are subject to changes / amendments made by the CBDT / Finance Ministry. NRI - India Real Estate-- Business Standard Reporter / Mumbai / New Delhi November 18, 2006Non-resident Indians (NRIs) with wealth stuck in NRI real estate in India have reason to rejoice. They can now not only cash out on the NRI property they hold in India, but have also been provided an incentive to invest in NRI real estate in India.This has been made possible by the Reserve Bank of India allowing NRIs to remit the proceeds from the sale of immovable NRI real estate. The RBI has lifted the 10-year lock-in as a step towards further liberalisation of the capital account."The key impact will be that it will provide an exit route to NRI investors, who till now did not have the comfort level to invest in NRI property here as they could not repatriate the gains on account of the lock-in condition. For North America-based NRIs, who may not wish to come back to India, this will provide an opportunity to invest and exit as and when they choose to," said Anshuman Magazine, head (South Asia), at CB Richard Ellis, a real estate consulting company.The remittance of sale proceeds of immovable NRI Real Estate is, however, within the overall ceiling of $1 million per annum.Barring a few premium properties in Delhi and Mumbai, the Rs 4.5 core cap would not be a hindrance in almost the entire Indian market for built-up homes and apartments, real estate analysts said. Banks have been told to allow remittances out of balances in non-resident Indian ordinary accounts, including sale proceeds of immovable NRI properties, provided the amount does not exceed $1 million per financial year.The analysts said NRIs who already own NRI real estate in India, especially inherited titles, would be able to sell and possibly avoid messy family disputes and litigation.Some analysts said the $1 million cap could possibly be circumvented through co-ownership of properties. "You can buy floors in a building and register them in separate names. In this way, an investor can repatriate multiples of the $1 million cap," a real estate expert added. 1) Do non-resident Indian citizens require permission of The Reserve Bank to acquire residential/commercial property in India?No.2) Do foreign citizens of Indian origin require permission of the Reserve Bank to purchase immovable NRI property in India for their residential use?Yes. However, the Reserve Bank has granted general permission to NRI citizens, whether resident in India or abroad, to purchase immovable preperty in India for their bona fide residential purpose. They are, therefore, not required to obtain separate permission of The Reserve Bank.3) Who is a foreign citizen of Indian Origin?A foreign citizen (other than a citizen of Pakistan, Bangladesh, Afghanistan, Bhutan, Sri Lanka or Nepal) is deemed to be of Indian origin if:a.) He held an Indian Passport at any time or;b.) He or his father or paternal grand father was a citizen of India by virtue of the constitution of India or the Citizenship Act, 1955.4) In what manner should the purchase consideration for residential immovable property be paid by foreign citizens of India origin under the general permission?The purchase consideration should be met either out of inward remittance in foreign exchange through normal banking channels, or out of funds from NRE/FCNR accounts maintained with banks in India.5) What are the formalities required to be completed by foreign citizens of Indian origin for purchasing residential immovable Nri properties in India under the general permission?They are required to file a declaration in form IPI 7 with Central Office of Reserve Bank at Mumbai within a period of 90 days from the date of purchase of immovable NRI India properties or final payment of purchase consideration along with a certified copy of the document evidencing the transaction and bank certificate regarding the consideration paid.6) Can NRI India Properties be sold without the permission of Reserve Bank?Yes. Reserve Bank has granted general permission for sale of Nri properties. However, where the property is purchased by another foreign citizen of Indian origin, funds towards the purchase consideration should either be remitted to India or paid out of balances in NRE/FCNR accounts.7) Can sale proceeds of NRI India Properties, if and when sold, be remitted out of India?In respect of residential NRI real estate purchased in India on or after 26 May 1993, Reserve Bank considers applications for repatriation of sale proceeds up to the consideration amount remitted in foreign exchange of the acquisition of the NRI property for two such NRI properties. The balance amount of sale proceeds if any or sale proceeds in respect of NRI Real Estate Investments purchased prior to 26 May 1993 will have to be credited to the ordinary non-resident rupee account of the owner of the property.8) Are any conditions required to be fulfilled if repatriation of sale proceeds from Nri properties in India is desired?Applications for repatriation of sale proceeds of property in India are considered provided the sale takes place after three years from the date of final purchase deed or from the date of payment of final installment of consideration amount on the NRI property, whichever is later.9) What is the procedure for seeking such repatriation?Applications for necessary permission for remittance of sale proceeds from NRI Real Esate in India should be made in form IPI 8 to the Central Office of The Reserve Bank at Mumbai within 90 days of the sale of the property.10) Can NRIs acquire or dispose residential property by way of gift?Yes, Reserve Bank has granted general permission to NRIs to acquire or dispose of NRI India Properties in up to two houses by way of gift from or to a relative who may be an Indian citizen or a person of Indian origin (PIO) whether resident in India or not, provided gift tax has been paid.11) Can immoveable NRI property held in India, be transferred by way of gift to relatives/registered charitable trusts/organizations in India?Yes General permission has been granted by Reserve Bank to non-resident persons (foreign citizen) of Indian Origin (PIOs) to transfer, by way of gift, immoveable property held by them in India to relatives and charitable trusts / organizations subject to the condition that the provisions of all other laws, as applicable are complied with.12) Can NRIs acquire commercial properties in India?Yes, under the general permission granted by The Reserve Bank, property other than agricultural land/farm house/plantation property can be acquired by NRIs provided the purchase consideration is met either out of inward remittances in foreign exchange through normal banking channels or out of funds from the purchaser's NRE/FCNR accounts maintained with banks in India and a declaration is submitted to the Central Office of Reserve Bank in form IPI 7 within a period of 90 days from the date of purchase of the property/final payment of purchase consideration.13) Can they dispose of such NRI Indian properties?Yes, NRI properties in India may de disposed of.14) Can sale proceeds of NRI property be remitted out of India?Yes. Repatriation of original NRI investments in respect of Indian properties purchased by NRIs on or after 26 May 1993 will be allowed to be remitted up to the consideration amount originally remitted from abroad provided the NRI property is sold after a period of three years from the date of the final purchase deed or from the date of payment of final installment of consideration amount, which ever is later. Applications for the purpose are required to be made to the Central Office of Reserve Bank within 90 days of the sale of property in form IPI 8.15) Can property (residential/commercial) be given or rent if not required for immediate use?Yes, Reserve Bank has granted general permission for letting out any immovable properties in India. The rental income or proceeds of any investment of such in-come are eligible for repatriation.16) Can NRIs obtain loans for acquisition of a house/flat for residential purpose from financial institutions providing housing finance?The Reserve Bank has granted some general permission to certain financial institutions providing housing finance e.g. HDFC, LIC Housing Finance Ltd., etc, and authorized dealers to grant housing loans to NRI nationals for acquisition of a NRI house/flat for self-occupation subject to certain conditions. Criteria regarding the purpose of the loan, margin money and the quantum of loan will be at par with those applicable to resident Indians. Repayment of the loan should be made within a period not exceeding 15 years, out of inward remittance through banking channels or out of funds held in the investors' NRE/FCNR/NRO accounts.17) Can Indian companies grant loans to their NRI staff?The Reserve Bank permits Indian firms/companies to grant housing loans to their employees deputed abroad and holding Indian passport subject to certain conditions. 18. Can an authorized dealer grant a housing loan to NRIs where he is a principal borrower with his resident close relative as a co-signer / guarantor or where the land is owned jointly by such NRI borrower with his resident close relative? Yes However in such cases the payment of margin money and repayment of loan installments should be made by the NRI borrower.Salaried IndividualsLatest salary slip showing statutory deductions and Form 16 (Declaration from the employer giving the details of income and deductions, duly signed by an authorized signatory of the Company) or latest acknowledged IT Returns and bank statements for the last three months.Self-employed Individuals / ProprietorComputation of income for the last two years certified by a C.A. or P&L and Balance Sheet for the last two years certified by a C.A. and copies of acknowledged IT Returns for the last two years and bank statements for the last six months.PartnershipsComputation of income for the last two years certified by a C.A. or P&L and Balance Sheet for the last two years certified by a C.A. or copies of acknowledged IT Returns for the last two years and partnership deed, letter of authority, bank statements for the last six months, proof of office.Private Limited CompaniesComputation of income for the last three years certified by a C.A., P&L and balance sheet for the last three years certified by a C.A., copies of acknowledged IT returns for the last three years, memorandum and articles of association, board resolution, bank statements for the last six months, authority letter from all directors to accompany the application form with photographs of authorized signatories if not specified in the board resolution, proof of office.Salaried NRI Applicants: 1) Copy of valid passport showing VISA stamps; Copy of valid visa/work permit/equivalent document supporting the NRI status of the proposed account holder; Latest contract copy evidencing salary/salary certificate/wage slips; 2) Overseas bank A/C for the last three months showing salary credits.Self Employed NRI Applicants: 1) Trade license or equivalent document; 2) Six months overseas bank account statement and NRE/NRO account; 3) Computation of income, P&L account and balance sheet for last three years certified by a C.A./CPA or any other relevant authority as the case may be (or equivalent company accounts); 4) Passport copy with valid visa stamp; 5) Brief profile of the applicant and business.
Disclaimer

DISCLAIMER

DISCLAIMER: Certain information included herein and in other company reports, Securities and Exchange Commission filings, statements and presentations is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements about the company's anticipated operating results, financial resources, ability to acquire land, ability to sell homes and properties, ability to deliver homes from backlog, ability to secure materials and subcontractors. Such forward-looking information involves important risks and uncertainties that could significantly affect actual results and cause them to differ materially from expectations expressed herein and in other company reports, filings, statements and presentations. These risks and uncertainties include RIRIC's ability to compete in real estate markets where we conduct business; the availability and cost of land in desirable areas in India and elsewhere and our ability to expand successfully into those areas; RIRIC's ability to obtain necessary permits and approvals for the development of its lands; the availability of capital to RIRIC and our ability to effect growth strategies successfully; RIRIC's ability to pay principal and interest on its current and future debts; RIRIC's ability to maintain or increase historical revenues and profit margins; availability of labor and materials and material increases in labor and material costs; increases in interest rates and availability of mortgage financing; the level of consumer confidence; adverse legislation or regulations; unanticipated litigation or legal proceedings; natural disasters; and changes in general economic, real estate and business conditions. If one or more of the assumptions underlying our forward-looking statements proves incorrect, then the company's actual results, performance or achievements could differ materially from those expressed in, or implied by the forward-looking statements contained in this report. Therefore, we caution you not to place undue reliance on our forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This statement is provided as permitted by the Private Securities Litigation Reform Act of 1995.

Legal Notice Legal NoticeLegal terms of useIf you access and use this website (the "Site"), you accept and agree to be bound by and comply with the terms and conditions outlined below (the "Terms"). If you do not accept the Terms, please do not use this Site.GeneralThe Terms are applicable to all products and services of Royal Indian Raj International Corporation (RIRIC) and its affiliates and subsidiaries, including, but not limited to: Royal Garden Villas Resort Corp. and Royal Garden City Enterprises PVT. Ltd.The Terms are to be read by you together with any other terms, conditions, or disclaimers provided in the pages of the Site. You are deemed to have notice of them regardless of your use or downloading of only part of this Site. The material, information, or other content provided in the pages of the Site (the "Information") may be changed at any time without notice. Such changes may be made by updating this posting. Your continued access or use of the Site will mean that you agree to any such changes.Trademarks & CopyrightsAll design, text, graphics, and the selection and arrangement thereof on the Site are Copyright © 2005-2007 Royal Indian Raj International Corporation. Certain names, words, titles, phrases, logos, icons, graphics or designs, or other content in the pages of the Site are trade names or trade-marks owned by Royal Indian Raj International Corporation, or trade names or trade-marks licensed to it by the owner. The display of trade-marks and trade names on pages at the Site does not imply that a licence of any kind has been granted to anyone else. The Information on the site is for your personal use only. Any unauthorized downloading, re-transmission, or other copying or modification of trade-marks and/or the contents of the Site may be a violation of any federal or other law that may apply to trade-marks and/or copyrights and could subject the copier to legal action. Royal Indian Raj International Corporation, its affiliates, and/or its subsidiaries own the copyright in the text, graphics, audio clips, video clips, selection and organization and other content that is made available to you on this Site. The Information is protected under the copyright laws of Canada and other countries. Unless otherwise specified, no one has permission to copy, redistribute, reproduce, republish, store in any medium, re-transmit, modify or make public or commercial use of, in any form, the Information.Links to third-party sitesThe Site contains hyperlinks to websites operated by parties other than Royal Indian Raj International Corporation (sometimes referred to as "third-party websites"). Such hyperlinks from or to websites outside of the Site are meant for convenience only. Royal Indian Raj International Corporation does not control such websites and is not responsible for their respective content. Royal Indian Raj International Corporation's inclusion of hyperlinks to such websites does not imply any endorsement, approval, or control of the material on such websites or any association with their operators. Linking to any such site is at your sole risk and Royal Indian Raj International Corporation will not be responsible or liable for any damages in connection with linking. The Royal Indian Raj International Corporation privacy policy does not govern third-party websites.No endorsementsNo endorsement of approval of any third parties or their advice, opinions, information, products, or services is expressed or implied by Royal Indian Raj International Corporation.No warrantiesRoyal Indian Raj International Corporation and its affiliates, subsidiaries, officers, directors, employees, or agents provide this Site, and the Information herein, on an "as is, where is basis" and do not make any express or implied warranties, representations, endorsements or conditions with respect to the Site or the Information, including, without limitation, warranties as to the merchantability, operation, non-infringement, usefulness, completeness, accuracy, currentness, reliability, and fitness for a particular purpose. Further, Royal Indian Raj International Corporation does not represent or warrant that the Site will be available and meet your requirements, that access will be uninterrupted, that there will be no delays, failures, errors or omissions, or loss of transmitted information, that no viruses or other contaminating or destructive properties will be transmitted or that no damage will occur to your computer system.SecurityThis Site is not a secure medium for communication except where indicated. Any confidential, proprietary, or sensitive information transmitted by a user by means of this Site may be read and copied by unauthorized persons.Internet e-mailAny unprotected e-mail communication over the Internet is not confidential and is subject to possible interception or loss, and is also subject to possible alteration. Royal Indian Raj International Corporation is not responsible for and will not be liable to you for any damages in connection with an e-mail sent by you to Royal Indian Raj International Corporation or an e-mail sent by Royal Indian Raj International Corporation to you.Limitation of liabilityNeither Royal Indian Raj International Corporation nor any of its directors, officers, employees, or other representatives will be liable for damages arising out of or in connection with the use of the Site. This is a comprehensive limitation of liability that applies to all damages of any kind, including (without limitation) compensatory, direct, indirect or consequential damages, loss of data, income or profit, loss of or damage to property, and claims of third parties.JurisdictionThe Site is administered by Royal Indian Raj International Corporation from its offices in British Columbia, Canada. The Site will be governed by and construed in accordance with the laws of the State of Karnataka and the laws of India applicable therein. By accessing this site, you submit to and attorn to the exclusive jurisdiction of the courts of the State of Karnataka and the country of India.PrivacyFor the Royal Indian Raj International Corporation privacy policy, please refer to Our Privacy Page.DisclaimerThis offer to purchase real estate is not valid in any state or jurisdiction where the seller is not registered. The photos, depictions or illustrations displayed in this advertisement may not be representations of the actual property represented herein.All corporate and listing information is believed to be accurate, but cannot be guaranteed. With respect to real estate listings, please verify all information with the salesperson that is responsible for the particular listing via e-mail or by the telephone number provided.Certain information included herein and in other company reports, Securities and Exchange Commission filings, statements and presentations is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements about the company's anticipated operating results, financial resources, ability to acquire land, ability to sell homes and properties, ability to deliver homes from backlog, ability to secure materials and subcontractors. Such forward-looking information involves important risks and uncertainties that could significantly affect actual results and cause them to differ materially from expectations expressed herein and in other company reports, filings, statements and presentations. These risks and uncertainties include RIRIC's ability to compete in real estate markets where we conduct business; the availability and cost of land in desirable areas in India and elsewhere and our ability to expand successfully into those areas; RIRIC's ability to obtain necessary permits and approvals for the development of its lands; the availability of capital to RIRIC and our ability to effect growth strategies successfully; RIRIC's ability to pay principal and interest on its current and future debts; RIRIC's ability to maintain or increase historical revenues and profit margins; availability of labor and materials and material increases in labor and material costs; increases in interest rates and availability of mortgage financing; the level of consumer confidence; adverse legislation or regulations; unanticipated litigation or legal proceedings; natural disasters; and changes in general economic, real estate and business conditions. If one or more of the assumptions underlying our forward-looking statements proves incorrect, then the company's actual results, performance or achievements could differ materially from those expressed in, or implied by the forward-looking statements contained in this report. Therefore, we caution you not to place undue reliance on our forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This statement is provided as permitted by the Private Securities Litigation Reform Act of 1995.
Bangalore, India Royal Indian Raj International Corp. #10/5 Benson Cross Road, Benson Town, Bangalore - 560046Tel: +91(80).4128.9765, Tel: +91(80).4128.9766, Fax: +91(80).4128.9767 Email: contact_rgvillas.comYoutube

Disclaimer: This offer to purchase real estate is not valid in any state or jurisdiction where the seller is not registered. The photos, depictions or illustrations displayed in this advertisement may not be representations of the actual property represented herein.HOMEFLOOR PLANSAMENITIESPARTNERSSITE MAP