NRI can buy residential or commercial properties. The agricultural plots, farmhouses or plantations are restricted for NRIs.
There are following documents required –
📌 Passport and/or OCI card: You will need an Indian passport or if you hold a foreign passport, you can buy property in India, provided you have an OCI (Overseas Citizen of India) card. Learn more at https://ocicard.ozg.in and simply WhatsApp us for any questions.
📌 PAN Card: This is mandatory for property transactions. Applying for PAN is a very simple and easy. You can simply visit NSDL website for PAN.
📌 Current Address Proof: Latest Bank Statement Or Utility Bill.
📌 Power of attorney (PoA): You need to also provide a power of attorney, in case you are not available in India for executing the deal. Please note that you will need a power of attorney which is registered and notarized and not a general power of attorney to execute a property transaction.
📌 How can you execute a Power of Attorney?
A power of attorney authorizes another person residing in India to complete transactions on your behalf. The POA will need to be signed by you in the presence of a consulate officer or notary in your country of residence. It will also have to be attested by them.
📌 How can you do your transaction for purchase of property in India?
You can make transaction for your property purchases through inward remittances as per FEMA guidelines by RBI.
Appointment ☎️ ozglaw.com/appointment
📮 Email to: email@example.com
Before going for a property deal, for a hassle-free ownership experience, make sure you check and verify all essential papers. You may consider taking the services of Ozg Documentation Centre at a competitive fee.
📌 Title Deed (in the seller’s name). Some states have specific paperwork that you need to be aware of.
📌 Approved Plan.
📌 Building permit.
📌 Occupancy Certificate (in case it is a ready building).
📌 Older title deeds, if any.
📌 Updated encumbrance certificate.
📌 Share certificate (in case it is a cooperative housing society).
📌 NOC from the society.
📌 RERA registration (if applicable).
If these documents are in order, then you can proceed to prepare the sale agreement for purchasing the property.
📮 Email: firstname.lastname@example.org
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Quick Legal Advisory – FEMA Consultant – Ozg Lawyers