Can a person who had bought immovable property when he was a resident, continue to hold such property even after becoming an NRI’PIO?

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immovable-property

Yes, he can continue to hold the residential/commercial property / agricultural land/ plantation property / farm house in India without the approval of the Reserve Bank. Immovable property is an immovable object, an item of property that cannot be moved without destroying or altering it – property that is fixed to the earth, such as… Read more »

Can NRI And PIO repatriate the sale proceeds of immovable property?

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immovable-property

NRI/ PIO may repatriate the sale proceeds of immovable property in India (a) If the property was acquired out of foreign exchange sources i.e. remitted through normal banking channels I by debit to ‘NRE I FCNR (B) account The amount to be repatriated should not exceed the amount paid for the property: 1. in foreign… Read more »

From whom can the non-resident inherit immovable property?

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immovable-property

A person resident outside India (i.e. NRI or PIO or foreign national of nonIndian origin) can inherit immovable property from (a) a person resident in India. (b) a person resident outside India. However, the person from whom the property is inherited should have acquired the same in accordance with the foreign exchange regulations applicable at… Read more »

Whether a non-resident can inherit immovable property in India?

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immovable-property

Yes, a person resident outside India i.e. i) an NRI ii) a PIO and iii) a foreign national of non-lndian origin can inherit and hold immovable property in India from a person who was resident in India. However, a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal and Bhutan should seek specific approval… Read more »

Can a foreign national who is a person resident in India purchase immovable property in India?

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Privy Counci

Yes, but the person concerned would have to obtain the approvals, and fulfill the requirements if any, prescribed by other authorities, such as the concerned State Government, etc However, a foreign national resident in India who is a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal and Bhutan would require prior approval of… Read more »

Is acquisition and transfer of immovable property in india by a NRI?

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immovable-property

A person resident outside India who is a citizen of India (NRI) can acquire by way of purchase, any immovable property in India other than agricultural land/plantation property/farm house. He can transfer any immovable property other than agricultural or plantation property or farm house to: a) A person resident outside India who is a citizen… Read more »

Where can I register my immovable property ?

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immovable-property

Documents pertaining to immovable property shall be registered in the Sub-Registrar office in whose jurisdiction the property is situated Or If you have any problem with the Sub-Registrar’s office please approach the District Registrar of your district.InBangalore Urban district still if you have problem in registration you can visit the Office of the Inspector General… Read more »

How to get transfer of immovable property?

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immovable-property

If value of property under sale, exchange, lease, and mortgage is Rs.100 or more, deed relating to such transaction must be compulsorily registered (Sec.17 of Registration Act 1908). Gift deed, must be registered irrespective of the value of the property. After the deed is registered. In areas where there is not city survey is not… Read more »

How many ways of acquisition to the immovable property by a person?

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immovable-property

There are two ways of acquisition to the immovable property by a person – By act of parties. Example: Purchase, gift etc. By operation of law. Example: Inheritance, decree of Court etc. Note – For details please see Transfer of Property Act, 1882 (Central Act) Property law is the area of law that governs the various… Read more »

How ownership of immovable property is acquired by a person?

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immovable-property

A person may acquire immovable property in any of the following ways – By inheritance of ancestral property. Through will. Acquisition by oneself such as purchase etc. Through gift, trust, settlement deeds. Grant, sanad / Inam by the Government. Through partition deed. Through decree of Court. There are two ways of acquisition – By act… Read more »