Seminar on Property Related Issues of NRIs/PIOs
1. The Ministry of Overseas Indian Affairs works towards strengthening the bonds of affinity with overseas Indians, facilitating their participation in India's developmental activities and enhancing the process of engagement and mutually beneficial partnerships with them.
2. A series of measures initiated in this regard include formulation of the Overseas Citizenship of India Scheme, establishment of Overseas Indian Facilitation Centre, formation of Prime Minister's Global Advisory Council of People of Indian Origin, setting up of the India Development Foundation, conceptualization of PIO/NRI University, enabling professionals holding Overseas Citizens of India cards to practice in India, launching of the Global Indian Network of Knowledge and creation of Indian Community Welfare Fund.
3. Overseas Indians have been a major source of foreign exchange remittances that has led to the present state of comfortable foreign exchange reserve in the country. They have also made investments in several sectors. Real estate is a sector of special interest to NRIs/PIOs.
4. Of late, this Ministry is in receipt of several references from NRIs/PIOs on property related issues e.g. illegal occupation of land/flats/apartments/houses by unscrupulous persons, delayed handing over of the promised flats/apartments by builders/realtors/property dealers, delay in the settlement of related court cases.
5. NRIs/PIOs are, generally, not equipped with complete information on the property projects, track record of real estate agents/companies executing them and how they could get quick redressal of their property related grievances/disputes. In a long drawn litigation process, the NRIs/PIOs face the disadvantage of not being able to be present in India for longer durations to pursue their cases.
6. A seminar to discuss these and other facets of the property related issues of NRIs/PIOs is being organized on 7th January 2010 from 1000 - 1300 hrs at Vigyan Bhawan in New Delhi on the sidelines of the Pravasi Bharatiya Divas (PBD) Convention – 2010 in collaboration with the Confederation of Indian Industry (CII). Discussions at this Seminar would cover the role of different government agencies/private enterprises, measures to prevent such disputes/problems, speedy disposal by way of setting up of fast track courts etc.
7. Representatives from NRIs/PIOs Associations, land-revenue and police departments of state governments, Bar Council of India, builders/real estate associations and the central government are among those expected to take part in it.
8. The Seminar would be open to delegates registered for the Pravasi Bharatiya Divas Convention – 2010 being held at Vigyan Bhawan in New Delhi on 7-9 January 2010.
