to view Expat - LB Associates

INSIGHT
“
A LOT OF COMMERCIAL UNITS OF
INTERNATIONAL STANDARD HAVE
COME UP RECENTLY. BUILDERS
LIKE UNITECH AND DLF HAVE
PROVIDED OFFICES WITH A TOUCH OF
INTERNATIONAL CLASS, BUT IF WE SEE
THE RESIDENTIAL END, IT IS PATHETIC.
LET ALONE INTERNATIONAL QUALITY,
THE HOMES LACK IN EVEN BASIC
Bedroom in a service apartment
AMENITIES.
”
- Jaideep Ahuja
valid owner and expat. The third stage is the agreement. Once the
agreement gets signed between the two parties, the expat becomes
a valid tenant.
Two Perspectives
Says Grant Stevens, an expat from the US, living in Delhi: “My
personal experience in fi nding a property in Delhi has been very
good. I stay in a farmhouse on the Mehrauli-Gurgaon road. I fi nd
my residence to be perfect. In fact, before taking a fi nal call on this
farmhouse, I looked at many residences and farmhouses and I
discovered that there is good quality accommodation out there for
expats in and around Delhi.”
In his view, “the most important thing is to have a very good broker
or a relocating agent to give the best advice and offer a choice. In
my case, it has been very positive. My broker put forth many options,
which met high standards and were worth negotiating”.
Another Expat living in Delhi, who spoke to us on condition of
Entrance of Service apartment
anonymity, is not very upbeat. He dubs himself unfortunate for
having got a landlord, “who is more concerned about making money
than providing basic amenities”. This expat is staying in a farmhouse
in Chhattarpur. Though it is a spacious farmhouse, it has many
problems. “I am waiting for my agreement to get over so that I can
move out and look for some other decent accommodation”, he rues.
He also agrees that the biggest challenge is in locating the right
relocating agent. In his case, he was unfortunate to, “come across a
broker who misled me every time taking advantage of the fact that
we are not friendly with the property market in India.”
Matter of Tastes
For a personal lease, an expat needs to have a bank account to
pay rent and a valid visa to reside in India but the process of legal
documentation is quite cumbersome. It needs to be reformed.
He regrets that India has good hotels and commercial space of
international quality, but the residential stock is still not up to the
mark. This is in addition to the desired levels of improvement in
infrastructure like roads and electricity.
Precautions
For expats scouting for property, the fi rst step is to verify the title
of the property offered. It is important to find out whether the
“
THE CHALLENGE
OF FINDING FOR
HOUSING FOR
HIGH-END EXPATS
MANIFESTS AT
TWO LEVELS. WITH
LIMITED INVEN-TORY
IN BIG CITIES SUCH AS MUMBAI AND
DELHI, THE RENTALS ARE HIGH. THE
HIGH COSTS FLARE UP HIGH EXPECT-
ATIONS ON THE PART OF THE EXPAT
CLIENT.
”