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A Non Resident Indian (NRI) as per India’s Foreign Exchange Management Act 1999 (FEMA), is an Indian citizen or Foreign National of Indian Origin resident outside India for purposes of employment, carrying on business or vocation in circumstances as would indicate an intention to stay outside India for an indefinite period. An individual will also be considered NRI if his stay in India is less than 182 days during the preceding financial year.

A Non-Resident Indian is an Indian citizen who has migrated to another country, a person of Indian origin who is born outside India, or a person of Indian origin who resides permanently outside India. Other terms with the same meaning are overseas Indian and expatriate Indian. In common usage, this often includes Indian-born individuals (and also people of other nations with Indian ancestry) who have taken the citizenship of other countries.

NRI Investors means people possessing above stated identity and want to invest in India their Home Land. Any NRI Investor irrespective of its current residential status in countries other than India can invest their savings/funds in LifeStyle Properties on Project Based Investment Basis.

What is Project Based Investment?
A project based investment is, wherein investor’s funds are allocated to a specific project which can be Building / Construction of Residential, Commercial or Retail Properties or Land Development Process. In either of the projects Investor Funds are invested. On completion of Projects, the investor’s actual fund of investment is refunded with the actual profit.

What is the eligibility for NRI Project Based Investment ?

• Must be a proven NRI as per India’s Foreign Exchange Management Act 1999 (FEMA)
• Must be an Individual Investor (No other form of organisation are eligible)
• A group of people together cannot invest, but individually they can.
• Must Possess NRE Account in any India Bank or Financial Institution.
• Must possess a regular operating Savings or Current Account in any India Bank or Financial Institution.
• Must have appropriate Indian Domicile Records.
• Must have Few Blood Relatives and local Friends.
• Must have social security number or equivalent identification document of the country currently residing.

• It’s very essential for the NRI Investors to discuss the matter related to Investment with the LifeStyle Properties (LSP) Experts and thoroughly understand the entire process of activity.
• It’s very much essential to appoint a Power of Attorney by the NRI Investor. This would generate better transparency between NRI Investor and LifeStyle Properties. The Power of Attorney Holder would be acting as a representative of the NRI Investor, with Zero Executive Powers on behalf of NRI Investor. Actions of all nature / matter related to Power of Attorney Holder should be pre informed by the NRI Investor to LifeStyle Properties.
• All the funds as Investment Funds in LifeStyle Properties will be acceptable in Indian Rupees by Cheque/RTGS/NEFT/Demand Draft or by any systematic legal tools. We don’t entertain any transaction in Cash Terms. So NO CASH Please.
• The transaction and business details shall be systematically drafted in the form of Investment Agreement on Rs. 100.00 Indian Government Stamp Paper, duly accented by the NRI Investor, Power of Attorney Holder, Investee and competent legal authority. Which would include the project details and investment details in utmost transparent pattern?
• All NRI Investment Forums shall be strictly restricted to the specific project of investment. On Completion and Sales of Property, the profits shall be distributed on Project’s Capital Sharing Ratio Basis and the Principal Amount of Investment shall be refunded at the same time in Indian Rupees. Then after, the NRI investors can decide either to reinvest in future projects or to sort some other source of investment. Reinvestment after distribution of profits (Margins) is the autonomous decision of the NRI Investor.
• Remittance of Funds in Foreign Currency would not be possible or entertained. No transactions between foreign banks and Indian Banks on mutual basis shall be entertained. However, the NRI Investor can transfer funds in foreign currency in its Domestic NRE Bank Account. The LifeStyle Properties shall be accepting and remitting all funds in India Rupees and all transaction would be functional in Domestic Banks. In Project Based Investment, the NRI investors need not to consider themselves as Partners of the LifeStyle Properties. They are Investors and not partners, these investors are Profit Sharing Partners only. There’s no guaranteed rate of return in Real Estate Business Ventures, but normally they are pretty high then the other investment options.
• On completion and sales of any Property in which the NRI Investors have invested the funds, they will be called upon to attend Project Compliance Meeting in person or through Video Conferencing. Wherein, each and every detail of Expenditure and Revenue with relevant fact sheet will be discussed with them. NRI Investors will be given each and every micro and macro details of project in Hard Copy and Soft Copy for their reference and analyze the same in needful pattern.
• The ongoing property development process and sales activity of the same will be updated routinely to the NRI Investors either through Phone Calls, Video Conferencing or through E-Mail.
  During the Property Development Process, if any properties are sold by the special efforts of the NRI Investors at the LifeStyle Properties Pricing Structure. The NRI investor’s special effort shall be appreciated by a special business incentive payable in Indian Rupees@ 1% of the Property Sales Value, which is acceptable to LifeStyle Properties and its other Investors invested in the same Property Development Process.
• If any NRI investor books a property for self use or for investment in fixed assets, no change in the pricing policy would be entertained. The NRI  investors have to pay the value of the property as per the norms and payment structure of LifeStyle Properties. Also, no appeals related to adjustment of the property value payments against the margins or principal amount would be entertained.
• In the Work in Progress phase of any Property Development, if any NRI Investor wants to suspend the Investment Agreement in that case the Principle Amount shall be paid either in Indian Rupees by Cash or Cheque/RTGS/NEFT/Demand Draft as convenient at that point of time. In such case of agreement suspension, the NRI investors cannot claim any return in the form of Interest on Fund Investment. The decision of suspension was the autonomous will of the NRI investor. The refund of the principal amount shall be payable with in a period of 30 days from the date of suspension.
• During the course of Property Development and value additions, if the NRI investors is in India can visit the development site any number of times to get the live scores of development or else live work in Progress view can be arranged through live web cam facility, but it’s requested to not to interfere in the development or value addition process. On special request of NRI Investors, the Power of Attorney Holders can visit the site.
• All the decisions related to Property Development, Value Addition, Resource Management etc shall be exclusively under the control of the LifeStyle Properties. Wherein NRI Investors would have  Zero Role of Action. The Investors can forward their valued and elite suggestions, tips and advises on demand by the LifeStyle Properties. The Power of Attorney Holders cannot forward any suggestions on representation basis alos.
• The technical and physical material management process is an exclusive right of the LifeStyle Properties. Wherein no interference shall be entertained. The Lawyers, Architects, Structural Experts, Supply Chain etc shall be managed as per the standard requirements of the LifeStyle Properties. On requirement, necessary assistance shall be sought from the NRI Investors.
• The pricing policy of the properties developed by LifeStyle Properties would by structured by LifeStyle Properties. The NRI investors would not be able to influence the same for personal purpose or self benefit. In fact, NRI investors have to be just concerned about their margins in the capital sharing ratio. The NRI investors of the LifeStyle Properties are requested to never forward Request, Preference or Favour for employing their friends and relative in LifeStyle Properties. Also no requests shall be entertained pertaining to Material Sourcing from their friends and relatives belonging to materials supply business in India or abroad.
• All the Project Compliance Meetings have to be attended by the actual investors either in person or video conferencing facility at the designated time of mutual convenience. In their physical absence, the meeting can be attended by the Authorized Power of Attorney holder on pre informed basis by the NRI Investor. At the time of Project Compliance Meeting all the NRI investors have to submit their Investment Agreement to LifeStyle Properties and collect the principal amount and margins. The date and schedule of project compliance meeting is unalterable. The Power of Attorney Holder can submit on behalf of the NRI Investor. The payment of Principal Amount and Margins shall be done part in Cash and other in Cheque/RTGS/NEFT/Demand Draft etc., as suitable from accounting point of view. Those NRI investors who are not able to collect the funds in person, in such cases the NRI Investor has to give in Hard Copy declaration under their letter head about to whom the funds have to be allocated or shall the  funds to be maintained by LifeStyle Properties. On receipt of written declaration from NRI Investor, the funds may be handed over to the responsible entity.
• All the fund management expenses in legal perspective as per India Laws have to be borne by LifeStyle Properties and NRI Investors individually or mutually as the case may be, that would be decided on the occurrence of the situation.
• There’s no facility of Financial Drawings in the form of Loan, Lease, Grant, Favour etc in LifeStyle Properties by (for) NRI Investors or Power of Attorney Holder in the Project Based Investment System.
• All the Executive Powers and Decision Making Powers of any or all projects developed and administered by the LifeStyle Properties, having innumerable NRI investors, irrespective of their investment ratio (share holding) would be under total Authorization of LifeStyle Properties on undisputable basis. Wherein the share holding or investment ratio would have zero influence over the same.
• All disputes of non settlement nature are subject to the court of laws and judiciary of Jamnagar District; Gujarat State of India.