1. Notices Issued: Approximately 100 wealthy Indians received notices from the Foreign Asset Investigation Unit (FAIU) of the Income Tax Department concerning undeclared properties in Dubai.

2. Source of Information: The notices were based on information provided by UAE authorities about Indian passport holders who have spent less than 90 days in Dubai.

3. Data on Property Ownership: The FAIU is conducting a verification process to confirm whether the funds used for purchasing these properties were officially disclosed and taxed. 

4. Implications of Non-Compliance: If the source of funds for the property purchases cannot be established, individuals may face heavy taxes and fines, potentially exceeding the value of the undeclared assets.

5. Residency Status: Individuals who spend over 90 days in the UAE may gain residency status, while those staying for 181 days or more benefit from tax treaty provisions between India and the UAE.

6. Investment Trends: Many Indians are attracted to Dubai's real estate market due to low down-payment options (as low as 10%) and flexible payment plans over several years.

7.Liberalized Remittance Scheme (LRS): There are ongoing debates among financial professionals about the permissibility of certain property deals under India's LRS, which allows individuals to invest a specified amount overseas.

8. Information Sharing Agreements: The automatic exchange of information agreements currently do not cover real estate ownership, raising questions about the basis of the information shared by the UAE.

9. Market Dynamics: Dubai's property market has recently seen increased interest from middle-income buyers, particularly for smaller, affordable units.