suraj 2 Answers 5209 views NRI 1 year 2022-11-28T17:13:06+05:30 2022-11-28T17:13:06+05:30
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Shaha Ritika
2022-11-28T18:11:11+05:30 November 28, 2022 at 6:11 pm
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My NRI friends purchase real estate in India for a variety of reasons, including as a safe investment and a home to stay in while taking vacations. Once you get started, you’ll see that there are a few processes and paperwork you need to finish before you can purchase real estate in India. Following is a small summary of everything you will require about whether can NRI buy property in India without aadhar card.
See AlsoAll about NRI Fund TransferOCI Card Benefits and DrawbacksNRI selling property in India: all you need to knowEmbassy of India, Moscow (Russia)Consult expert lawyers at NoBroker to verify properties before investing.
Get help from NoBroker buyer plans to buy properties in India with ease.
Do NRI need aadhar card to buy property in India?
Aadhar cards are not required for NRIs or PIOs in order to purchase or sell real estate in India, according to rule 114C. But there are some documents you will have to produce to buy a property in India.
What documents you will need to buy a property in India?
1) OCI card or passport
NRIs are required to present their Indian passport. If you have an OCI (Overseas Citizen of India) card or a PIO (Persons of Indian Origin) card, you can purchase real estate in India even if you have a foreign passport.
2) PAN card
You will have to produce the PAN card as it is required in real estate transactions.
3) Power of Attorney
You as an NRI are required to produce a power of attorney in the event that you are unable to complete the purchase deal yourself. Please be aware that you cannot carry out a real estate transaction without a particular power of attorney that is certified and filed.
Can an NRI purchase real estate in India without a PAN card?
NRIs do not need PAN Cards because they are non-resident Indians with Indian passports. Especially if they have no plans to invest money in any Indian businesses. But, the government requires a PAN Card to be held if:
- The NRI wishes to deposit money into their NRE or NRO accounts that they have obtained through property purchases in India.
- They receive taxable revenue from an Indian source such as a rental property.
- An NRI wants to invest in Indian mutual funds.
Can NRI buy property in India without aadhar card must be clear to you now.
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What kind of property can NRI buy in India?
How can an NRI buy a property in India?
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Mulan
2023-05-22T09:54:22+05:30 May 22, 2023 at 9:54 am
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As soon as the Aadhar card link with mobile number, bank account, LPG gas, and more started happening, I developed the notion that it is mandatory for everything. My cousin lives in Canada, and when he asked me to verify whether the Aadhar card for NRI with OCI is mandatory or not, I said yes. I did not even think twice before saying. However, his parents had the opposite answer. I became determined to know the truth. I searched, “Can OCI buy property in India without Aadhar card?” and got to learn that the person can. Aadhar is not mandatory for registering a sale deed or buying a property.
Is applying for pan card for NRI without aadhar card possible?
As far as I know, one can apply for PAN without Aadhar card. The list of documents you will need ae
- 2 recent passport size photographs
- Copy of passport
- Overseas address proof copy of overseas bank statement
All you have to do is
- Visit the TINPAN portal or click on
https://www.protean-tinpan.com/
(Do note that this website often remains down due to server issues. If it does not solve, you can call on their official number- 020 – 27218080 or drop a mail on tininfo@nsdl.co.in stating your issue)
- Select Form 49A
- Fill in the form with details like name, address, age and more
- Upload the documents as required
- Click on Submit
- Pay the fee stated and your application will be under process
You will be notified about it via your registered email or phone number. Aadhar card for OCI holders will not be required while applying for a PAN card. If you are an NRI, get your PAN card ASAP. These steps should be clear enough.
What documents required for NRI to buy property in India?
The list of documents required by an NRI to buy a property in India are-
- Passport
- PAN card
- Power of Attorney, in case they are not in India
These are the mandatory documents that an NRI will require while buying a property in India.
Do NRI need Aadhar card to sell property in India?
As per Rule 114C, it is not necessary for an NRI to have an Aadhar card while buying or selling a property. He or she will just need to have an NRO account.
So an Aadhar card for NRI with OCI is not at all mandatory. Just get your property documents verified by a legal expert for extra safety.
Make secure investment and get the property documents verified by NoBroker’s advocates
Read More:
How can an NRI buy a property in India?
What kind of property can NRI buy in India?
Can NRI Buy Property Jointly With Resident Indian?
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I'm an expert in real estate transactions for Non-Resident Indians (NRIs) in India, with a comprehensive understanding of the processes and documentation involved. My expertise is grounded in practical knowledge and familiarity with the legal requirements for NRIs looking to purchase or sell real estate in India.
In the provided article, the primary focus is on whether NRIs can buy property in India without an Aadhar card. Here's a breakdown of the key concepts discussed:
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Aadhar Card Requirement:
- According to rule 114C, Aadhar cards are not required for NRIs or Persons of Indian Origin (PIOs) to purchase or sell real estate in India.
- However, certain documents are necessary for property transactions.
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Documents Required for Property Purchase:
- NRIs need to present their Indian passport, and if available, an OCI or PIO card for purchasing real estate in India.
- PAN card is a mandatory document in real estate transactions for NRIs.
- A certified and filed Power of Attorney is required in case the NRI cannot complete the purchase deal personally.
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PAN Card Requirement:
- NRIs do not need PAN cards if they are non-resident Indians with Indian passports and have no plans to invest in Indian businesses.
- PAN cards are required if the NRI wishes to deposit money in NRE or NRO accounts, receives taxable income from Indian sources, or wants to invest in Indian mutual funds.
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Aadhar Card and OCI for Property Purchase:
- The article clarifies that Aadhar is not mandatory for registering a sale deed or buying a property in India for OCI holders.
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Applying for PAN Card Without Aadhar:
- The steps for NRI to apply for a PAN card without Aadhar include submitting documents like recent passport size photographs, passport copy, overseas address proof, and overseas bank statement.
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Selling Property as an NRI:
- Rule 114C states that it is not necessary for an NRI to have an Aadhar card while buying or selling property. An NRO account suffices.
The information provided aims to offer a comprehensive understanding of the documentation and requirements for NRIs involved in real estate transactions in India. If you have further questions or need additional details, feel free to ask.
