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ASARP meeting highlights potential of Indian real estate

The meeting was attended by over 50 professionals from various sectors of the real estate industry.

ASARP monthly meet and greet in Des Plaines, Illinois / Prachi Jaitly

The Association of South Asian Real Estate Professionals (ASARP), a leading organization dedicated to promoting professional development and industry updates among South Asian real estate professionals, recently held its monthly meet and greet in Illinois.

During the meeting, attended by over 50 professionals from various sectors of the real estate industry, industry updates, and investment opportunities in India were discussed.

Tarun Bhatia, past president of the National Association of Realtors, India, Tim Ryan, president of Main Street Organization of Realtors, John Gormley, CEO, and representatives from DLF property developers of India also participated in the meeting.

Shirin Marvi, president of ASARP in her welcome address spoke of the role played by the organization in increasing professionalism amongst South Asian community members. She also briefly explained the need to be more vigilant given what is going on in the profession.

Pradeep B Shukla, chairman briefly narrated updates in tax legislation as well as the provisions/incentives introduced under TCJA (Tax Cut and Jobs Act), 2017 that are set to change in 2025. He urged the audience to start planning their taxes and assured them that ASARP would guide members in filing requirements with FinCEn (The Financial Crime and Enforcement Network).

Harsha Shukla threw light on legal updates in the state laws that affect the real estate profession. Main Street Organization of Realtors, the nation’s fifth-largest real estate association and the largest one in the Chicagoland area, highlighted the need to push for Buyer Representation agreements to protect the interests of the realtors. 

Tarun Bhatia, past president of the National Association of Realtors, India discussed the growth of the Indian economy, which offers tremendous potential for foreign investors. The real estate sector is open for non-resident Indians and persons of Indian origin, he said, adding that foreigners opt to invest in India to reap the benefits of high returns. 

The DLF team - one of the largest property developers in India – presented highlights of their projects and explained the intricacies of investing in the real estate sector in India.

“The audience left the meeting well inspired to make wise investments, to navigate the legal and professional updates with insight, and to contribute positively to the growth of residential real estate in India,” a statement by the organizers said.

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