Archive for September, 2007


September 22, 2007

It is not only the males seeking greener pastures for employment abroad, the female counterparts are equally keen in getting employment for better livelihood and earn a living for their kith and kin in India.

Females, in particular domestic servants, are being exploited by  the Indian fraternity and foreign nationals.  In order to protect such women, Government of India has already issued directive that only women over 30 years of age were eligible to be employed abroad as domestic servants and no age criteria for other categories of employment.

With effect from 1st September 2007, Government of India has issued revised directives as follows:

  • Minimum age for seeking employment abroad by females is 30
  • In addition to the above, a minimum qualification of completion of Higher Secondary education for employment other than domestic servants.
  • Agreement for employment should be made between the Employer and the Female-employee and NOT  between the Agent and the Seeker.
  • Every Female-employee should be provided with a Pre-paid mobile phone card by the Employed for their access in case of any emergenices to contact the Indian Consulate.

In addition to the above,  Indian Consulates would soon introduce Help-line facility in all their stations to provide immediate access for the distranged Indians.

We, BESTNRI, arrange to send genuine domestic servants from Chennai for our NRIs.

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Property value in Chennai -A recent study

September 17, 2007

As of today, there appears to be a slow-down in real estate transaction in Tamilnadu, particularly in Chennai.  Some of the reasons being:

1.  Hot property owners wait and watch approach.

2.  Development only in selected areas.

3.  Government announcements regarding SEZ, acquisitions, Expansion of Tier 2 Cities 4.  Increase in interest rate of home loans.

5.  Rise in Guideline Value.

6.  Buyers wait for any correction.

But reasons 4& 5 are not deterrent factors for slowdown.  Some interesting features of the study are enumerated below:  Property related registrations in the Suburbs outnumber the City area suggesting the growing customer preference for outskirts and the availability of land.  Sub-Registrar offices of SRIPERUMBUDUR, TIRUVALLUR & WALLAJABAD have witnessed 100% growth in property transcaction over the two years since April 2005.  Whereas areas in Velachery, Neelankarai have not seen a phenomenal rise. However, the City has outdone the suburbs in terms of property value.

Many big land Developers Mantri, Landmark, Purvankara are eyeing Chennai especially the IT belt of Old Mahabalipuram – NH45 from Tiruvanmayur to Thiruporur-Thirukazhikundram with their Mega projects to woo the professionals of IT sector.  The Government’s initiative to improve the necessary infrastructure has added pep for the substantial growth of Greater Chennai beyond Tambaram on Southern side and Sriperumbudur on the Western side of Chennai.

It is judicious for the Non-Resident Indian investors to approach these areas for investment in order to reap the benefits of  the growth.  At the same time, NRIs have to be careful in investment as many fake transactions are also doing rounds.  To get the best, approach only reputed builders,  legal experts, genuine property consultant before putting your good money.

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