Home/Buy and Sell/Investment/What are some of the things that should be ensured when buying property (residential plot) in India, Uttar Pradesh for an Overseas Indian Citizen?
Q.
What are some of the things that should be ensured when buying property (residential plot) in India, Uttar Pradesh for an Overseas Indian Citizen?
Hello there, I can tell you about the documents required for OCI to buy property in India. These include a passport or OCI card, PAN card and power of attorney. Apart from this, let me share the things you need to do to buy a property as an NRI.
You first need to do a proper title search to make sure that the property is free from any ownership dispute.
Next, obtain a PAN card.
Set up a Non-Resident Ordinary or Non-Resident External account in any Indian bank.
Get a tax clearance certificate from the IT department to follow the tax regulations.
If you’re not physically present, appoint a representative you trust through a power of attorney.
Follow the FEMA guidelines.
Check that the property gets registered at the local registrar’s office.
Run a verification process to ensure that the property is free from any legal liabilities or ownership issues.
Hire a real estate lawyer to take you through the process.
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What are some of the things that should be ensured when buying property (residential plot) in India, Uttar Pradesh for an Overseas Indian Citizen?
Naturelover11
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March 18, 2024
2024-03-18T15:16:33+00:00 2024-03-22T19:47:03+00:00Comment
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