Must Read :: NRI's will 'NEVER INVEST IN INDIA'
Virendra Jain who is an NRI Business man was in India in 2010 for his daughter's wedding and he came across a Newspaper ad about Real Estate project promising assured returns.
And trusting on Indian economy, Jain invested 60 Lakhs in Real estate projects hoping to get fixed rental income and he was planning to return to India. But his dream of returning back to motherland has been shattered in a battle with the developer. Now Jain curses himself for deciding to invest in real estate in India.
Now he is forced to make several unscheduled trips to this country to pursue his legal fight against the developer. Jain said, "I will now think several times before finally returning to India and make any investment in this country." This is not just about Jain.
There are more than 600 NRI Investors and they are struggling to get their property several years after investment in the Spire Edge commercial project that was launched in 2008. Pradeep Sharma who is another NRI investor said, "We never thought that some people could cheat us in a place like Manesar, barely 50 km from the national capital, and no action will be taken against the accused."