Question
Q

What are the Legal aspects for NRIs to keep in mind when investing in Indian real estate?

By Pankaj Agarwal
event 16-Jun-2018 share
What are the Legal aspects for NRIs to keep in mind when investing in Indian real estate?
A
Answer

Aarohi Sharma

16-Jun-2018 03:14

-He should check all the documents before submitted.

-You will have to hire a professional lawyer.

-You will have to verify all the original documents.

-Do check that the owner has cleared all the dues related to the property.

 

A
Answer

Lalit

16-Jun-2018 12:57

Legal aspects for NRIs to keep in mind when investing in Indian real estate:

  • Hire a reputed lawyer to vet property documents
  • Verify the original title deed documents; ensure that the property title is in the name of the seller
  • Do a thorough check to ensure that the seller has cleared all the dues related to the property
  • Verify that the seller has not diluted the right to transfer the property to a buyer
  • Ensure that the property is not built on agricultural land without requisite government permissions. An NRI may get into legal problems in such transactions.
  • In case of under-construction property, an NRI has to give a power of attorney to the developer or a trusted associate.
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