Varun Sharma 3 Answers 2455 views Buy and Sell 3 years 2021-05-17T16:58:51+05:30 2021-05-17T16:58:51+05:30
in progress
-
Charu Grover
2021-06-01T19:18:39+05:30 June 1, 2021 at 7:18 pm
Reply
A foreign national resident outside India cannot purchase immovable property in India. A Non-resident of India can purchase a property in India. NRI mostly prefers to purchase a property in India in the form of investment for their future security.
The process to buy a property from USA for NRI or OCI cardholders.
- If an NRI wants to buy a property from the USA without visiting India, he/she needs to appoint a power of attorney member.
- A power of attorney holder should be trustworthy and reliable to you, as they are responsible to take decisions and sign documents on your behalf in India.
- A power of attorney holder can be either the applicant’s father, mother, brother, sister or any other trustworthy family member.
- You need to apply for an application for prepping the power of attorney papers to
the Indian Embassy of the city where you are currently residing.
- You have to sign the power of attorney papers in the presence of the consulate office of the Indian Embassy of the local city and country where you have resided.
- Once your application is approved your power of attorney will be sent to India.
- After the adjudication process, the Power of attorney is ready for use in India for purchasing any land and property.
- It is advisable if you plan to buy a property in India, you should appoint a property lawyer who provides specialized services for NRIs
List of documents an NRI should check before buying a property in India.
- Title Deed (in the name of the seller)
- Sanctioned Building Plan
- Commencement Certificate
- Occupancy Certificate
- Tax Paid Receipts
- Encumbrance Certificate
- Khata/Mutation Documents
This is the process on how to buy a property in India from USA
Unbeatable Prices! 5-Star Rated Partner! 2200+ Shades! Top Quality Paint Free Cancellation! See AlsoFDI vs. FII - Top 8 Factors to Understand Better!What is Fiis? Definition of Fiis, Fiis Meaning - The Economic TimesHow to invest in foreign marketsNRI & Aadhaar - Unique Identification Authority of India | Government of IndiaBest Price! 5-Star Rated Partner! Free Cancellation! Top Quality Chemicals Professional Equipments Household Damage Protection Timely Pickup & delivery Real Time Update 100% Price & Service Guarantee Free Reschedule & Cancellation 10 Years Warranty Premium Material Quality Assurance Transparency in Price & Timeline Best Designer -
Anamika Sen
2023-04-10T09:19:11+05:30 April 10, 2023 at 9:19 am
Reply
NRIs enjoy a lot of benefits, but for a long time I wanted to know can a US citizen buy property in India. My friend from Punjab has settled in the USA so I asked him about it. He explained to me how to buy property in India from the USA in detail, and I was able to learn several things from him. There are several steps through which the NRI has to go, but overall it is easy. Read this answer and find out how it’s possible.
Get your property documents verified before investing. Seek NoBroker’s Legal expert’s assistance
Buy property in India without any hassle online using NoBroker and save lakhs on brokerage
Can I buy property in India from USA as an NRI?
Yes, an NRI can buy a property in India from the USA. There are some steps that you will need to follow-
- Get your proof of NRI status or get advance permission from the Reserve Bank of India
- Seek a solicitor or realtor’s advice to proceed legally
- Be sure you have your OCI Overseas Citizen of India card, notarized power of attorney and more
- Foreigners can buy only some specific properties in India so make sure you abide by them
- Make sure the property in India is free of any legal dispute
Can NRI buy property in India without visiting?
An individual will have to take on the responsibility of buying the property on behalf of an NRI and must have a valid Power of Attorney if the NRI is unable to be present in India during that time.
For buying property in India from the USA, what documents will the NRI require?
The documents that an NRI will need to have before buying a property in India as a US citizen are-
- Passport
- OCI card
- PAN card
- Power of attorney
- Proof of current address
- Passport sized photos
So to answer your question: can a US citizen buy property in India. Yes, if they hold an OCI card and fall perfectly as per the eligibility criteria stated by the Indian government.
Read More:
Can NRI buy property in India without Aadhar Card?
Can NRI sell property in India without physical presence?
Can NRI buy agricultural land in India?
Unbeatable Prices! 5-Star Rated Partner! 2200+ Shades! Top Quality Paint Free Cancellation! Best Price! 5-Star Rated Partner! Free Cancellation! Top Quality Chemicals Professional Equipments Household Damage Protection Timely Pickup & delivery Real Time Update 100% Price & Service Guarantee Free Reschedule & Cancellation 10 Years Warranty Premium Material Quality Assurance Transparency in Price & Timeline Best Designer -
Aakshata
2023-09-25T20:27:18+05:30 September 25, 2023 at 8:27 pm
Reply
Yes, a US citizen can buy property in India. They are permitted to purchase immovable property in India, including both residential and commercial properties, in accordance with the rules established by the RBI and FEMA.
When a foreigner is buying property in India from USA, they must fit into one of the following categories:
- Non-Resident Indians (NRIs)
- Persons of Indian Origin (PIOs)
- Foreign Nationals
How to buy property in India from USA?
- Verify your eligibility to purchase property in India:
Make sure you meet all the requirements to buy a home in India before you even begin your search for one.
This means that you’ll need to have documentation proving your NRI status or, if you’re an Indian resident of foreign descent, advance authorization from the Reserve Bank of India.
- Locate a reliable Indian lawyer, notary public, and real estate agent in your area:
It can be difficult to navigate a property purchase, especially if you aren’t going to be in the nation the entire time. Get sound local guidance and work with a lawyer and realtor who can assist you in finding a home and completing the transaction without worry.
- Gather the paperwork needed to complete your real estate purchase:
Your OCI card and a particular, notarized power of attorney are two of the paperwork you’ll need when purchasing a home in India from the US.
- Find the ideal location and agree on the sale price:
Remember that only a certain type of property can be purchased by foreigners in India, eliminating some agricultural and farming property from your search.
Your real estate agent will be able to walk you through your alternatives at this point. Once you and the seller have agreed on a sale price, you might be required to submit a 10% to 20% deposit.
- The necessary legal and due diligence checks will be carried out by your solicitor:
You will need your solicitor to intervene and carry out the necessary checks to ensure the purchase is legal after you and the seller have agreed on a sale price.
They will examine the title records, building plans, and permits to make sure the property has been created properly and that the person selling it is the rightful owner.
- Sign the property sale deed, or have your representative do so for you:
Once everything is in order, you will need to sign the property sale deed yourself. If you are not physically present in India, you can also use the power of attorney you’ve established to have your representative sign the document on your behalf.
- The property sale will be registered by your solicitor:
You now own a home after your lawyer completes the property registration as the last stage.
I hope this clarifies your understanding that a US citizen can buy property in India.
Get end-to-end NRI Property Management Services via NoBroker
Read More:
TDS on Sale of Property by NRI Below 50 Lakhs?
How can an NRI make a rental agreement?
I am an NRI. How much TDS would I have to pay when I sell a property in India?
Unbeatable Prices! 5-Star Rated Partner! 2200+ Shades! Top Quality Paint Free Cancellation! Best Price! 5-Star Rated Partner! Free Cancellation! Top Quality Chemicals Professional Equipments Household Damage Protection Timely Pickup & delivery Real Time Update 100% Price & Service Guarantee Free Reschedule & Cancellation 10 Years Warranty Premium Material Quality Assurance Transparency in Price & Timeline Best Designer
Leave an answer
You must login or register to add a new answer .
Related questions
BPL Card banwana hai. Kya karu?
Purani abadi ki jameen ko gram panchayat lease par de sakta hai?
Distributor is neglecting the customer. What to do in such a case?
How to resale of flat in cooperative housing society, where society (not builder) has sold flat to individual owner?
Does NoBroker have a branch in Visakhapatnam?
As someone deeply immersed in the legal intricacies and processes surrounding property transactions for non-resident Indians (NRIs) in India, I can affirm the comprehensive understanding reflected in the provided article. The wealth of information and the meticulous explanation of the steps involved in purchasing property in India from the USA showcases a nuanced grasp of the subject matter.
Let's delve into the concepts covered in the article:
-
Eligibility and Categories:
- The article emphasizes that a US citizen can indeed buy property in India. However, the eligibility criteria depend on the category, which includes Non-Resident Indians (NRIs), Persons of Indian Origin (PIOs), and Foreign Nationals.
-
Legal Procedures for Property Purchase:
- It outlines the steps involved in buying property in India from the USA. This includes verifying eligibility, engaging local legal expertise (lawyer, notary public, and real estate agent), gathering necessary documentation (OCI card, notarized power of attorney), selecting a suitable location, and agreeing on the sale price.
-
Documentation Required:
- The article lists essential documents for NRIs buying property in India, such as passport, OCI card, PAN card, power of attorney, proof of current address, and passport-sized photos. This meticulous documentation ensures a smooth and legally sound property acquisition process.
-
Power of Attorney (POA):
- A crucial aspect highlighted is the appointment of a power of attorney holder, emphasizing the importance of trustworthiness and reliability. The article explains the process of applying for power of attorney papers at the Indian Embassy and the subsequent adjudication process.
-
Specific Property Types for Foreigners:
- Foreigners, including NRIs, are advised to ensure the property they intend to purchase is free of legal disputes. It also mentions that foreigners can buy only specific types of properties in India, excluding certain agricultural and farming properties.
-
Legal Checks and Due Diligence:
- The article underscores the role of solicitors in conducting legal and due diligence checks, examining title records, building plans, and permits to ensure the property's legality and rightful ownership.
-
Registration Process:
- The final steps involve signing the property sale deed, either in person or through a representative via the power of attorney. The article emphasizes that the property sale is registered by the solicitor, completing the acquisition process.
In conclusion, the information provided in the article demonstrates a profound understanding of the legal and procedural aspects of NRIs purchasing property in India from the USA. It serves as a valuable resource for individuals seeking clarity on this intricate process.
