NRIs should take advantage of geospatial technology before buying a land

Geospatial technology helps in understanding the geography and provides data to determine the exact topography of a place. The data will assist you to make an informed decision

By NRI Problems by H. P. Ranina

  • Follow us on
  • google-news
  • whatsapp
  • telegram

 

The use of technology would be very useful before taking a decision to buy the plot of land since Bengaluru is prone to heavy rain and floods. — File photo
The use of technology would be very useful before taking a decision to buy the plot of land since Bengaluru is prone to heavy rain and floods. — File photo

Published: Sat 11 Feb 2023, 1:57 PM

Last updated: Sat 11 Feb 2023, 2:04 PM

Question: I am planning to buy a plot of land on the outskirts of Bengaluru. I have been advised that before I do so, I should take advantage of geospatial technology. I am not sure what this is about and I seek your guidance.

Geospatial technology helps in understanding the geography and provides data to determine the exact topography of a place. The data will assist you to make an informed decision. You will be able to locate the project site on a map and will get an idea about the surrounding locality to determine whether there is adequate infrastructure like schools, railway stations, metro stations, shopping centres, etc. The entire process of capturing the data was revolutionised when drones were used to capture aerial footage. Survey drones are equipped with multispectral and high resolution RGB cameras which help drones to see through trees and ground cover. These cameras fitted on drones capture photographs of the ground at different angles with exact coordinates. After the data is collected, a 3D map is generated by overlapping the geotagged photos. This would be very useful to you before you take a decision to buy the plot of land since Bengaluru is prone to heavy rain and floods.


Is it possible to access the international bond markets by Indian corporates? These markets have been sluggish during the past few months.

It is true that offshore bond markets were subdued in 2022 as local markets took time to catch up with the rising global interest rates and there was an arbitrage opportunity in raising funds locally. However, the dynamics are changing very fast and offshore markets are a good alternative for large scale fund raising. In fact, in the first fortnight of January 2023, around $7 billion was raised by companies in Indonesia, Philippines and India. According to analysts, more issuances of bonds are expected in the coming months. Recently, the Exim Bank concluded a $1 billion sustainable bond issue with a yield which was lower than what was offered on bonds having a comparative rating. Currently, offshore markets offer the deepest liquidity, widest high quality investor base, long tenors, and large sizes to issuers. This presents a highly favourable opportunity for investors who are able to secure yields which domestic markets cannot match.


The current account deficit is widening in India. Is this not a cause for concern?

The reason for the current account deficit widening is that international commodity prices are going up and exports from India have shrunk due to global headwinds as several countries are having an economic slowdown. Further, recessionary trends are clearly showing in developed countries. While merchandise exports have shrunk in December 2022, services exports have increased. In fact, export of electronic goods, including mobile phones, has registered a sharp increase of 37 per cent. The Economic Survey of India for the financial year 2022-23 has stated that the current account deficit may widen. The move to settle international payments in rupees would help to reduce the net demand for foreign exchange, in particular the US dollar. Further, the use of the rupee in cross-border trade is expected to mitigate foreign currency risks for Indian businesses. According to the Economic Survey, a global slowdown would benefit India as it will reduce commodity prices. However, foreign exchange reserves of India at the end of December 2022 stood at $ 563 billion, equal to 9.3 months of import bill. Further, the ratio of external debt to GDP is at a comfortable level of 19.2 per cent.

H. P. Ranina is a practicing lawyer, specialising in tax and exchange management laws of India.



More news from Business