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Services for Non Resident Indians (NRI) from Singapore

Indian Population in Singapore:
Singapore’s Overall Population stood at 5.54 million at the end of June 2015. Out of which 3.38 million are Singapore citizens, 0.53 million are permanent residents, and 1.63 million non-residents. Non residents include dependents, international students, and individuals who are working in Singapore.

The immigrant Indian minorities constitute about 7.4% of Singapore population. The term Indian refers to people who have immigrated from different parts of India such as Tamil Nadu, Kerala, Punjab, Kolkata, Delhi, Mumbai, Hyderabad, etc. Ethnic Indians who are permanent citizens of Singapore are approximately 3.5 Lacs (350,000) in number. While, about 3.5 Lacs (350,000) out of 1.63 million non-residents are Indian expats holding Indian passport and they work in range of industries such as IT, financial services, marine, and construction sectors.

Source: Singapore Department of Statistics, 2014

Property Management Services for Indian Diaspora from Singapore

Indians in Singapore have achieved major advancement in their education, work, income levels, and life expectancy. Many Indian workers are employed in high paying jobs in banking and Information technology industries. Their education levels have advanced significantly and many of them hold educational qualifications such as MBA, Masters in Science, Technology, etc.

Remittances by Indian Diaspora:
In 2014, Non resident Indians (NRI), Person of Indian Origin (PIO) remitted about 70.39 Billion US$ into India. These remittances were received from 25 million strong Indian Diaspora spread across the globe. Indians in Singapore remitted about 1.25 billion US$ in 2014 to their home country of India. Now, there is no segregated data which captures the amount different assets class received from NRI remittances. However, Indians in Singapore continue to invest a substantial amount of money in Indian real estate. Real estate developers and leading banks continue to organize Property shows to target Indian Diaspora in Singapore. Every year, there are approximately half a dozen Indian property shows being organized to cater to Indian population in Singapore.

Relations between India and Singapore:
India’s relation with Singapore dates back to the Cholas. The 2 countries enjoy robust political, economical, cultural, and trade relations. Bilateral trade surged from 6.65 billion US$ in 2004-05 to 19.27 billion US$ in 2013-14. During the period January 2000 to November 2014, Foreign Direct Investment from Singapore stood at 29.19 billion US$, which is about 12.35% of total FDI inflows into India during this period. In 2013-14 alone, FDI from Singapore into India was 5.98 billion US$.

FDI from India to Singapore has also surged in recent years. Approximately, 6000 Indian companies operating in the field of Information technology, E-Commerce, Pharmaceuticals, telecommunications are registered in Singapore. There are about 10 Indian banks that operate in Singapore.

Bank of Baroda, State Bank of India, HDFC, ICICI, EXIM Bank, UCO Bank, Indian Bank, Axis Bank, Bank of India, Indian Overseas Bank have significant presence in Singapore.

Mumbai, Tiruchirappalli, Hyderabad, Kolkata, Vishakhapatnam, Thiruvananthapuram, Chennai, Cochin, Coimbatore, Delhi, Ahmedabad, Bangalore, Chennai have direct air flights to Singapore.

Singapore Indian Development Association (SINDA), Singapore Indian Association, Singapore Indian Chamber of Commerce and Industry (SICCI), and Society of Indian Students are some of the major associations driving India-Singapore relations.

Property Management Services for Indian Diaspora:
As discussed above, Indians in Singapore remit upwards of 1 billion US$ into India every year. Even though we do not have segregated data, but, major chunk of it goes into real estate in India. Non Resident Indians (NRI) from Singapore invest in property market in major Indian cities namely Gurgaon, Noida, Chennai, Bangalore, Kolkata, Kochi, Mumbai, Pune, Delhi NCR, Jaipur, Chandigarh, Hyderabad. However, managing these properties become difficult for these NRI investors. Property management is a painstaking job and is best handled by professionals. Managed Homz, specializes in managing NRI properties in India. An NRI or PIO from Singapore can list his/her property here and property including apartment, flat, builder floor, Bungalow is professionally managed by our property managers.

The tasks such as tenant search, tenant screening, maintenance, repairs, rent agreement, tenant queries, bill collection, and rent deposit are managed by our team of professionals.

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