“India is well poised to become the third-largest economy by 2030,
surpassing four developed nations Japan, Germany, Britain and France.”
BY: US Government Agency
With development shooting up at an impetuous speed, India is soon to outperform the world’s domineering countries, in all the realms. Under a slew of laudable reforms by the pioneering new govt., Indian Real Estate has witnessed a remarkable transformation and holds a magnificent future for foreign investors.
Financial, commercial and industrial capital of India – Mumbai states the reasons for itself. Overwhelming number of multinational companies, uber-high convenience of connectivity, cosmopolitan culture to mingle in, and countless employment opportunities to grab onto – Mumbai is the most sought-after choice, serving housing units to hordes every day.
Since its inception in 2003, Omkar Realtors & Developers has created opulent spaces that have epitomized the pinnacle of luxury. Backed by a strong legacy that spans across a decade, Omkar is managed by second generation entrepreneurs who have carved a niche for themselves in the world of real estate.
An Indian Citizen who holds a valid Indian passport and stays abroad for employment/carrying on business or vacation outside India or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a Non-Resident Indian (NRI). Non-resident foreign citizens, of Indian Origin, are treated at par with Non-Resident Indians (NRI).
A foreign citizen (other than a citizen of Pakistan, Bangladesh, Afghanistan, Bhutan, Sri Lanka or Nepal) is deemed to be of Indian origin if: He held an Indian passport at any time, He or his father or paternal grandfather was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (Act No. 57 of 1955).
Overseas Corporate Bodies (OCBs) are those which are predominantly owned by individuals of Indian nationality or origin residing outside India and include overseas companies, partnership firms, societies and other corporate bodies which are owned, directly or indirectly, to the extent of at least 60% by individuals of Indian nationality or origin residents outside India as also overseas trusts in which at least 60% of the beneficial interest is irrevocable held by such persons. Such ownership interest should be actually held by them and not in the capacity as nominees. The various facilities granted to NRIs