Real Estate Bubble In India

GreenCardVirus

Registered Users (C)
All the deals of real estate only happens in Cash. Fake Money - this is what I think is the real reason for Boom. I am pretty confident that lot of fake money is being printed these days, ofcourse with the blessings of our beloved MPs and MLAs.
 

USCIS_GC_APPRO

Registered Users (C)
This Issue Should Not Be Here

Come on guys. People never even discussed about immigration issues in this fourm are discussing about land values in immigration fourm.


That's sad part.
 
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zzzz4zzzz

Registered Users (C)
USCIS_GC_APPRO said:
Come on guys. People never even discussed about immigration issues in this fourm are discussing land values in immigration fourm.
I Concur with with USCIS-gc-appro
here everyone wants to get their PD should be current and get GC and go on with their lives
i dont why these guys are taking about real estate in india, open this in general issues but not in PD Retrogressed thread
 

GaramChai2go

Registered Users (C)
USCIS_GC_APPRO said:
Come on guys. People never even discussed about immigration issues in this fourm are discussing about land values in immigration fourm.


That's sad part.

Yeah buddy, if we could have invested in real estate then we never had to worry about immigration. How about that?
 

zzzz4zzzz

Registered Users (C)
GaramChai2go said:
Yeah buddy, if we could have invested in real estate then we never had to worry about immigration. How about that?

Then why you are worry about immigration man, go and invest in real estate then...
you'll know in and out of real estate busniess in india
 

GaramChai2go

Registered Users (C)
zzzz4zzzz said:
Then why you are worry about immigration man, go and invest in real estate then...
you'll know in and out of real estate busniess in india
That advice came in late... sorry....where were you?
 

GaramChai2go

Registered Users (C)
USCIS_GC_APPRO said:
We stop talking about Land . Please, Garamchai2go please co-oprate here.
Dude I did not start discussion... moreover is it classified that only immigration will be discussed here..... complain to operations if really care otherwise ignore it.......
 

zzzz4zzzz

Registered Users (C)
GaramChai2go said:
That advice came in late... sorry....where were you?
i am not interested to have any investment in india
my classmate bought land near intl airport, shamshabad near hyderabad for very high price ,came to know recently is bogus and he lost total 5 years of savings in USA
he cannot get back all that money but get 35% of that money
right now he went to india for that only for without paid vacation
so he lost money in india and also here without job
 

asnssf

Registered Users (C)
Bank Accounts are already under radar

Citibank reports my NRE savings acc balance to IRS. ICICI doesn't. Not sure about SBI. So some NRI accounts are already under radar.

But it will not be possible for uncle sam to get into our realestate dealings. bcas two type of transactions happen in the Indian Realestate closing.
  1. Registerting the property as per Govt estimated (which is very very low) value and paying stamp fees only for that amount.
  2. Pay the rest of the amount in CASH to the seller later (this is how white is changed into black)
 
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asnssf

Registered Users (C)
None of the companies (either Indian or MNCs) will lose money

None of the companies (either Indian or MNCs) will lose money if the IT market or realestate market crashed worldwide. MNCs have no direct investment in the real estate property in India. Most of them are running in the Govt funded infrastructures inside IT parks.

If anything goes wrong, You know who will be affected, either it will be you, me, your friends or my friends.

I am planning to move to india few years later. So I am planning to invest right now.

One of the properties I am considering is inside Tsunami zone close to my friend's house. When we go there, if the market survives, we will sell that house and buy a new one for us. Or if the market crashes, I will rent an apartment inside city and make a trip to the beach house for vacation.

But I feel, its worth buying inside the city irrelevant of the price. Market never crashes there bcas of the demand.

I would suggest to not to put the entire SAVINGS in the outskirts.
 

mariner555

Registered Users (C)
unitednations said:
What happened to the great contributions that people on h-1b do for this country. Pay taxes, medicare, etc. Pretty hypocritical, no?

There is tax treaty between usa and india - signed in 1989. Whenever they want to get around to it; i hope you guys are prepared.
99.99% people on visa pay taxes (including medicare). so I dont know what you mean by this statement . also dont forget the dot com boom (and tech boom) have had valuable contributions to this country (and the world) from immigrants (not just India but other countries)..so one persons post doesnt change anything or makes a fact hypocritical.
 

GCVARUMA

Registered Users (C)
unitednations said:
Everyone likes to play hard and fast with the rules. I deal with a lot of companies and individuals.

Off-line I have been warning people that they need tio be real careful in how they send money back to india (especially companies who are laundering profits through corp to corp).

EVERY person I know of sends money back; either to support relatives or for investment purposes. I think it is odd when people say they are making great contributions with all the taxes they pay; job stimulation, etc. when they are generally sending all their savings and avoiding taxes by sending money to home country.

Regarding the tax issue; i used to think at high levels; ie., irs is only interested in going after tax shelters, etc. However, some recent events which people have contacted me about as sort of re-engineered my thinking that IRS is going after small things (per diems; travel expense reimbursements, deductions of corp to corp to india, etc.). Just be careful; if you guys think uscis is tough; you haven't seen how tough IRS is.
UN.. Could you give some more information about this. Say for eg a person who gets the whole salary(i.e they do not get any of this - per diems, travel expense reimbursements, deductions of corp to corp to India, etc.) pays all the taxes here and whatever money that person has saved(after taxes and expenses) and invests it in India, does that person still have to pay something over here in US for the investments made in India too??

Also what is the careful way do you suggest to send the money back home?

I did not follow the statement where you say - "when they are generally sending all their savings and avoiding taxes by sending money to home country." - If taxes have been paid for what they earned then is there a problem in sending money to home country.

Thanks,
GCVaruma.
 

AAA_USA

Registered Users (C)
NRI's

As I was saying before, If NRI's are playing a major role in the real estate boom( I am not sure whether it is a bubble or not), why don’t we spread the message and request people to discuss about the bubble possibility instead of keep buying properties at an exorbitant price.

As in US, like money.com which kept on telling people in 2004/2005 that there is a bubble in US real estate market, there is nothing in INDIA and people are making beeline in INDIA to buy properties at whatever price.
 

GaramChai2go

Registered Users (C)
AAA_USA said:
As I was saying before, If NRI's are playing a major role in the real estate boom( I am not sure whether it is a bubble or not), why don’t we spread the message and request people to discuss about the bubble possibility instead of keep buying properties at an exorbitant price.

As in US, like money.com which kept on telling people in 2004/2005 that there is a bubble in US real estate market, there is nothing in INDIA and people are making beeline in INDIA to buy properties at whatever price.
I would say let's move this thread to may ''Starting a business....". Some people seems to be annoyed with it...
 

AAA_USA

Registered Users (C)
The only reason why I started here is, Retrogression attracts so much of traffic. If you move it to some other place, you would not see that many people replying or even viewing for that matter.
 

Nadi

Registered Users (C)
If one becomes a naturalized US citizen .. and goes back to India to work.
He gets paid in India in INR. Does he still have to do US taxes ?
 

GCVARUMA

Registered Users (C)
unitednations said:
If you have a foreign bank account and it is over $10,000 (can't remember the exact number) then you need to complete some special forms.

Tax law says you get taxed on worldwide income (you get worldwide deductions also). If you buy/sell property anywhere throughout the world then you need to report the capital gain on your us tax return.

If you make interest in a foreign savings account; you need to put that on your tax return in USA.

If you own more then 10% of a foreign company you need to complete a special tax form and send it to IRS in philadelphia (it is very complicated form); if you don't do it then there is $10,000 flat penalty.

I see a lot of people owing or stating up companies in india; branch offices; back office) playing around with expense deductions, creating invoices, etc. and taking tax deductions on us tax returns. Not at all smart moves. If IRS comes and audits it will cause big issues.

Note: Many people do this and do not know there are repurcussions. There is ways to do it but most people don't have the knowledge or are too sloppy to do it the right way. Plus it costs some big money to pay to service providers here to show you how to do it the right way. Right now people are getting away with it because it isn't on IRS focus; it only gets on IRS focus when they do a random audit.

However; I see that people are getting more bold; there are conferences, advertisements telling people to invest in properties back home; savings vehicles, etc. As it gets more in the open; eventually someone from federal government; irs will start probing this.
So is this applicable for H1-B holders or for GC holders and Citizens?

Now say for instance I buy a property in India with the money sent from here and move back to India. 10 years down the line I sell the property now who would I pay the capital gains taxes to?? Is it India or US?
 
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