Q

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

16 Jun 18 286
What are the Legal aspects for NRIs to keep in mind when investing in Indian real estate?

2 Answers

A

Aarohi Sharma

16 Jun 2018 03:14 PM

-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.

 

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A

Lalit

16 Jun 2018 12:57 PM

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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