ASSOCHAM - INDIA
Fast commonwealth busines council from Pragati Maidan to
Earls Court, London

Indian real estate is sizzling. Between May 17 & 19, 2006, the India’s first land property and development exposition, 2006, will be held at London’s premier exhibition center-Earl’s Court Brompton Hall. The venue comprises 5000 sq.mtrs. of exhibition space and is among London’s most famous and visible icons. Every year thousands of people attend events and conferences at Earl’s Court which hosts some of the world’s most exciting and innovative fairs and exhibitions. It is located in the heart of London and served by two underground stations which link to the London and National Rail networks.

India First Plc is proud to be organizing the event in association with the commonwealth business council (CBC) of UK and the associated Chambers of commerce and industry of India (Assocham).featuring companies from India that are seeking investment from and partnership with UK and other European companies. The majority of exhibitors well be in development infrastructure building hotels &leisure facilities.

For Indian real estate players, this will perhaps provide the very first opportunity to showcase themselves and their projects at one of the most exciting exhibition venues in Europe. This exposition is the fairest of its kind in London and will provide an excellent opportunity for India and principal corporations to showcase their projects and encourage partnerships and in ward investment.

The main focus of the exposition will be real estate especially for the non-resident Indian who wants to buy residential or investment properties in India. This includes housing shopping malls multiplexes, townships hotel and spas. There will be facilities at the exposition including housing loans, banking & project funds. Insurance and legal service says

Roma Loomba, Director of India First, while over a1000 NRIs from UK and other European countries are expected to attend the exposition, Indian politicians and business leaders have also blocked their calendars. We are providing one stop shop for NRIs as well as business houses in UK to meet with India’s real estate industry which is on an unprecedented growth curve besides the big mainstream player’s specialist developers in the areas of shopping malls.

Multiplexes, townships, Motels and spas will also be represented at the event other related service sectors like banking, hedge funds and legal services are also participating said Raj Loomba chairman and MD of India First. The NRI and PIO segment has been fuelling growth in India’s real estate sector for the past couple of years in a very big way, with increasingly large number of developmental schemes coming into operation.

Real estate is emerging as one of the biggest sources of employment and income generation in India at present. The requirement of investment in this sector runs into hundreds of billions of dollars, which no Government can meet on its own thus it is the most opportune time to initiate the process of securing NRIs.

For investment in the real estate in India, under FEMA section 6(5), an NRI can purchase, sell, gift the real estate property in India. He can also rent it out except for agricultural land plantations or farmhouses for which prior permission of the Reserve Bank of India is required. Assocham will give professional advice to NRIs so that they derive satisfaction out of their investment.

Assocham will also launch the new initiative India –UK business forum at the exposition under the leadership of the founder chairman Rajpals Chowdhury who has been a prominent NRI in UK for last 18years .In this process Assocham is in a very good position to play a significant role to create a well-knit web of networks comprising NRIs in UK on one hand and real estate developers appropriate authorities at the union state as well as district and local levels in India. It can also reach out to financial agencies and other related agencies in India.