Watch: NRI Business Setup India: FEMA, Land, Permits, GST Checklist
Dr. Kondal Reddy shares lessons for NRIs starting a business in India, with practical checks for FEMA, entity setup, land title, permits, GST, Udyam or DPIIT, and expert due diligence.
The full write-up, with the numbers and the links.
Chapters
- 0:00 Introduction
- 1:41 Insights and advice for entrepreneur aspirants
Transcript
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0:02 People say that oh this deal is only available until like five days come on you know so you see if it's available to you who is an NRA who just returned to India it was available to millions of people before they came to you right unless you are born to some minister or pretty. Hello everyone, welcome back to another episode of Di Return. Today's episode is a continuation of our discussion with our guest Dr. Condell Readyi. Dr. already went to UK in 2001 and after spending 20 years he and his family has decided to move back to Hyderrobad and have been living in Hyderrobat since 2021. So in the first episode we have talked about their background why he
1:04 Went to UK how he was successful in his career and so on. So please check out that episode if you have not checked out. Lot of tidbits, lot of insights. In today's episode, we are going to talk about his entrepreneur journey after moving to India. How his journey was, the insights that he can provide to someone who are thinking about moving from a job to be an entrepreneur when moving back to India. So please check it out. Lot of useful information in this topic also. and let's dive in. I definitely want to get some advice
1:42 Or you know some of the insights or you know things that you would share if someone is planning to move back to India. I you know to start their own entrepreneurship someone who has done for the last 3 years right I think you know setting it up I mean it's a tremendous task and you went through it. I know you kind of gave some examples put it on a paper have the finances and all that stuff. In addition, I just want to understand maybe from your journey how it did how did it go and any insights or anything that you would advise for people who are planning to return to India to start their own entrepreneur journey. Yeah. So coming on a job is so much easy you know that that absolutely true. So if if we're coming on entrepreneur kind of plan starting a business institution whatever whatever that is to start up to start something despite of me telling so many times people still don't do it. So I'll I'll I'll start with writing a plan. So open
2:43 Your plan. Yeah. open your plan. Now most of the times for for example I'll go through my business and I'll try to extrapolate certain things. So we needed a huge piece of land to construct. So we wanted to establish a world-class school. Yeah. Worldass educational school truly world-class in in in Hyderabad. very you know to implement the ideas that I had to grow pioneers, leaders, path breakers for tomorrow whether it's science, technology, medicine and that was the whole essence of Manchester Global School. if it was just making money, you would have started a chain of schools and it would have been fine but we really wanted to create an institution that's that leaves a legacy.
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3:28 So that's that was our idea to create a world-class school. Yeah. So we needed almost anywhere between 10 to 20 acres of land. and substantial amount of financing funding including bank financing and all of that. so the problem starts with the land. Okay. So and it's not unique but so we after a lot of lot of research in terms of the location we purchased you know almost 15 acres of land and for for this school and we took another five acres on a long list. So total 20 acres. Yeah. So we did all the legals and you know in fact with a really top class buyers and all of that and we purchased and still people threw some cases on on that you need to deal with that because once you finish the legals you think that it's absolutely crystal clean now after you know I was having this
4:30 Discussion before before we went to pay for the a substantial amount of money to the landlord to purchase that land parcel. remember this, my lawyer said this, there is nothing called 100% clean land in Hyderabad. Okay. Yes. Okay. There is nothing like that. There's always something. Okay. What you need to do is do all your homework, do the legal checks and the best possible legally clean land, not 100% 100%. Yeah. Because if you're aiming for 100%, you'll never do anything. Okay. So that's where you know you you need to put your intelligence. Make sure all the so legal work is absolutely don't skip that step. Doesn't matter how good the deal is. How good the deal forget it.
5:18 Okay. So make sure whether you're starting an industry company, school, college, IT company, doesn't matter. So if you're dealing with land, absolutely legal check is important and you need to compromise you know probably 10% but 90% has to be clean. Yeah. Despite of that we had some issues but we were able to resolve through through various ways and we had some difficulties with the people who sold us the land but that's okay that's part and parcel of the life so plan well do your legals checks when it comes to land and make sure that you do the research whether that's the right location now I'm keep insisting on this Ain but you won't believe based on our research we purchase or about to purchase the land Almost seven out of 10 people said this is wrong location. Really you are mad to build in this forest area this school.
6:13 This is not right. Why you but we knew that this is the right location based on the research the airports where the city is going. So we didn't go through the you know like the you know behind the sheep. So we said right we need to take some risks but based on good research. So we selected the location about 25 minutes from the airport which you know which can satisfy almost 60% of the Hyderabad geographically. So we picked but nobody was there when we came. Yeah. That's why land was a little bit attractive price for us. 3 years later everybody said this is the best location you have chosen. Just three years later now we couldn't afford this land or the the the the whole thing skyrocketed and so all of that. So first is the second if it requires construction you know and significant construction make sure that you you you really have the experts the permissions HMDA all kinds of the local bodies across India whichever that is
7:15 Make sure that you have real experts you know and they when I say experts lobbyists all of that is combined I'm saying you know some things we can't say in public but generally you know you have to be a Roman in Rome Right? Don't try to be a Californian in Hyderabad. It won't work. Okay? won't don't be a Londoner in in Hyderabad. In Hyderabad, the system works in such a way. Learn the system. Otherwise, if you're trying to go through the process of okay, I'm not going to do this because I have these values. I'm not going to do this. Then you whatever you're trying to do remain a dream. Okay. So you need to be a Roman in Rome and you need to understand adjust painfully adjust and take the expert advice your family or social circle who has done this before. Yeah. you know permissions and all of that. It's a very very lengthy process. So in that sense you know do your research work take the expert advice and you will find
8:16 Them. Don't jump. You know people will come to you and say this is fantastic piece of land or I know somebody who can build you in this cheap cost. There's nothing called a free lunch. Don't believe right? Do your homework doesn't matter. So people say that oh this deal is only available until like 5 days. Come on you know. So you see if it's available to you who is an NRA who just returned to India it was available to millions of people before they came to you. Right? Unless you are born to some minister or somebody for general public like you and I and hundreds of people who are thousands of people don't don't believe it will be there the the the deal will be there you do your legal checks you go through the process and all of that. So your own research legal process experts you know if you're doing a big project yeah hire you know hire expert advise lobby whatever take people who have done this before. Yeah.
9:13 Don't get advice from the people who have not done this before. Yeah. Right. If somebody has so our school 20 acres campus, we built six lakhs SFT 600,000 SFT. It's a big project by any standard by any school standard. So I met at least four or five school owners who have done this. Mhm. Not only in the in Hyderabad but in Delhi and somewhere else. We went to those. So do your homework. Don't skip those steps. You will skip those steps. It doesn't matter which company, which field you are going into. you will if you skip those it's at your own peril I will guarantee it's not the luck won't protect you luck only protects people who have taken the steps right so do that work and then we started construction and just as an example I we went for a really world-class architecture and in terms of the campus and all of that we went to at least six or seven architects I shortlisted somebody who listened to us who understood our vision and all of that. So from step one,
10:16 Land acquisition, construction or taking a lease for your IT company, whatever that you are establishing, do those steps. You know, somewhere you may be getting a lease option to start your sixman band IT company, but if the employees you're going to hire, if they're going to struggle to travel through that part, you're not going to find anybody. So for anything, you need that, you know, that that basic basic research. Yes. So and and then in terms of our project, we started cons we hired specialist to get the permissions done. We got them and then we hired really high quality builder after going through six different builders we we hired and that was one of the best decisions we made and then within two years in fact 20 months we built our campus. So June 2022 we started the foundation. April 24 we opened the campus for the children to come and study. now a lot of project management companies very big
11:17 Companies wanted three and a half years for building the same thing at almost significant cres of fees. I'm not talking about lacks the fees. So we built our own project management company. I had a bit of expertise in that area and with a bit of luck obviously God's grace we were able to finish on time and we're able to open and again the market comes now because we did the market research where our students are going to come we were expecting around 150 200 students in the first year we had 230 so the response has been very good so you know this this campus is built for 2000 in 4 years time we'll reach that and second year also is looking pretty good. we are an IB and the Manchester global school that we started the response has been positively phenomenal you know very very very good and there were almost about 40 NRA children out of these 230 so so in a in a way not only we worked
12:18 Hard but we were lucky as well in a sense land the research we did the location we selected it worked out quite well it's on the Saleam highway airport so in summary the plan on the paper, research, market demand, expert advice, whether they're lobby or permissions, whatever. And go and talk to people who have done this before. Yeah. Successfully. Yes. Right. Not not your buckstanded consultant who will take your watch and tell you the time. No. Okay. The people who have done that successfully made profit you know especially in business side you must talk to them otherwise otherwise you won't get consultants and all of that are good but only to a certain extent and even if you had to pay and spend money to meet these people meet them okay in India see the way people make businesses successful in India is
13:18 Different from you know London or Manchester or in Los Angeles so yeah I think it's really really important you do that and you will find them. Yeah. I think what happens Ain is most of the times we want quick results. You skip you skip the steps. That's where I see unfortunately so many people struggling in in that and a lot of people you know succeeding by doing these simple steps. So probably I I I I covered a lot of things but in between if you have any anything that that I missed probably you know I don't know that's the journey. No, no, thanks a lot for such a you know, high level summary of the things that you went through. I think the key message is be a Roman while you're in Rome. Like, you know, you have to be on how to get things done. You know, understand the business, understand, have a solid plan, do your research, you know, follow people who have done that successfully and all that stuff. I think that's the key message. And, congratulations. I mean doing something in 20 months and
14:20 You know when everybody is saying 36 months is just you know kudos to you I think you know your pers and you know making things happen and and also this lifelong dream right I mean you know since 2012 like you decided not to take a citizenship to start an institution and at least you have opened the gates you know that's a vision that you have making it reality I think you know some of the points that you have covered but I just want to quickly summarize about the Manchester global that you mentioned you know it's an international school that offers both CBSC and IB and you have the vision to develop pioneers I think that's why you decided to start a new you know school instead of like just kind of creating a franchisee or anything you know that's like a real need and you know that vision and then implementing it right I think you know kudos to you and I definitely wish you all the best and want to see this you know where lot of kids coming as a leaders I think that's the best thing that we can do in India and I think that gives you
15:20 So much happiness and and I'm really looking forward to that. but I just want to summarize because there are a lot of things in this entire message. So I just wanted to make sure that I summarize it for the audience. You know one is the advice for people who are thinking of starting their own entrepreneurship but along the way you kind of give an example with your own journey you know in the last three years and your vision and how you implemented and made it reality. So Sure. Sure. Thank you. Thank you very much indeed a and I think you know of course the fruits are also quite sweet you know when you work hard and all of that nothing comes out of sacrif without sacrifice especially if you have ambitious dreams the sacrifice goes with it you know for we were used to good holidays to twice a year and all of that. So these three years have been phenomenal, very great journey but definitely that sacrifice you have to be prepared for and and also we were awarded the best number one emerging school in Hyderabad within our first year and fourth best in in
16:21 Telangana and AP together boarding and the day scholar school. So the recognition also came and also the demand also came. So which is and a little bit of God's grace I always said you know however hard you work and all of that but but definitely thank you very much indeed to for for for those kind questions and kind words. Yeah for sure congratulations again you know to be recognized by the outside bodies also. So for the listeners I think we'll keep a link in the description below so that you can check out about the school and if you have any questions definitely reach out. but again I just wanted to mention that I think you know it's a dream so you know having the dream come true. So that's why I just you know we want to mention it.



