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.
Be updated on the NRI RERA.
This is all from my side. I hope this helps.
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Authors Of The Question
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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7 months
2024-03-18T15:16:33+00:00 2024-10-04T15:43:08+00:00Comment
1 Answers
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