Indian property investment - did the earth move for you?

photo credit: TheTruthAboutMortgage.com

While browsing listings for some off plan Indian apartments the other day, a sudden thought occurred to me. You could call it a seismic revelation.

Having not yet invested in an Indian development, I was unaware of the country’s regulations surrounding the earthquake-proofing of buildings. Over in the US, the durability of a new project when it comes to a tremor is virtually a given. Developments in many West Coast states are typically subject to regulations which ensure structural protection is built in – an insurance policy will usually reflect this accordingly. American laws to this effect have been around for decades.

‘Satisfactorily quake resistant’

A quick bit of research revealed similar disaster management legislation only arrived formally in India last year. According to Taylor Devices India, all buildings completed after Jun 30 2007 must adhere to satisfactorily quake-resistant designs. After June 30 2007. This is a little over a year ago, and in my mind puts a big bright red ‘careful’ flag on anything completed before then.

Shaky property subject

Tayor Devices specialises in gadgets which protect against the walls of your investment empire coming crashing down (literally). It says Indian guidelines on regulation of the whole issue contain ‘grey areas’.

Not only would clarity on this shaky subject possibly save lives, it would also provide some assurance to the thousands of investors who have turned their attention to Indian real estate in the last five years or so. Of course, it’s easy to fold your arms and grin when all your property is in the UK, where even the slightest wobble is rare enough to send the nation potty with excitement. Perhaps an international law is needed on the topic before one or two metaphoric and literal cracks start appearing in some markets.