Buying & Selling Property

BUYING & SELLING PROPERTY

Buying or selling a property in India is a complicated process – made more so by real-estate agents who cheat NRI and bring bad name to their business. For NRI, purchase of property in India is the most important purchase of their life. Property purchase in India is not only an investment, but also a mark of self-respect, independence and social standing. It is tempting to find ways to reduce costs and to do away with safeguards involved in buying and selling of property.

NRI and PIOs may think – at thier own risk – that a lawyer is not necessary during sale or purchase of property in India. However, it is not a wise decision to forego a lawyer. The risks of fraud in property sale and purchase are substantial and very real. You may think that if anything goes wrong, you will go to court or initiate criminal proceedings against the fraudster. However, consider this – do you have time to do all those things and get involved in litigation? Is it not wise to take legal help before buying and selling property and prevent all problems.

How We Can Help You In Your Property Management

People are often found to be in need of Property Management Lawyers to help them in India with land that they have either inherited or purchased. Whether there are issues related to ownership or resolution of some other such matter, people seek legal advice that could help them come up with feasible solutions. Ownership records are not always easy to trace out and often, the registry details have been either lost or not been recorded properly – hence they often feel the need of seeking advice. The single most important requirement is to have the status of the title clearly established through updated documents. In most cases these papers are either lost or have not been updated for a long time, resulting in damage to their property rights in India. In these matters, one has to be prepared that he will be faced with some common challenges.

We make our clients aware about applicable laws such as stamp duties and requirements of registration. We also assist our clients in getting licensing and regulatory approvals required from government and statutory agencies. We represent owners, developers, secured lenders, loan participants, government bodies, bondholders, borrowers, landlords, tenants.

Our Property Management attorneys experience benefits you in several key areas. We:

  • Clarify options and potential scenarios surrounding your case.
  • Assist you in collecting the proper documentation.
  • Correctly classify the application and ensure requirements are met.
  • Prepare and submit all forms and documentation.
  • Communicate with the appropriate government staff.
  • Monitor the entire documentation process.

Property Management Attorney Experience & Responsiveness that Makes a Difference. Our Attorney Pledge:

  • 100% focused on processing your documentation and case quickly & successfully.
  • Strong Property Management lawyer experience & deep knowledge of  real estates in India.
  • Best in class service and a commitment to open, responsive communication.
  • Outstanding level of real estate Lawyer service at an affordable FLAT rate.
  • To discuss your case call: (415)-693-9131 or Mail Us.

Something very important you may want to know

Frequently Asked Questions

  1. 1
    What should be the mode of payment for purchase of residential/commercial property in India by an NRI/PIO?

    Under the general permissions available, an NRI/PIO may purchase residential/commercial property in India out of funds remitted to India through normal banking channels or through funds held in his NRE/FCNR (B)/NRO account. No consideration will be paid outside of India.

  2. 2
    Can an NRI or a PIO or a foreign national of non-Indian origin hold any immovable property in India acquired through inheritance from a person resident outside India?

    With specific approval from the RBI , a resident outside India may hold an immovable property in India acquired through inheritance from a person resident outside India, provided the owner had acquired such property in accordance with the regulations of the foreign exchange law in force at the time of acquisition or should be under FEMA guidelines.

  3. 3
    Can a person resident outside India hold any immovable property in India acquired by way of inheritance from a person resident in India?

    Yes. A person resident outside India can hold immovable property acquired by way of inheritance from a person resident in India as per the provisions of Section 6(5) of the Foreign Exchange Management Act, 1999.

  4. 4
    Can an NRI/PIO acquire residential/commercial property by way of gift under the general permission available?

    Yes. Under the general RBI guidelines, NRI/PIO may acquire residential/commercial property by way of gift from a person resident in India or an NRI or a PIO.

  5. 5
    Can a foreign national of non-Indian origin acquire residential property on a lease in India?

    Yes. A Foreign National of non-Indian origin including a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan can acquire residential properties on lease in India. If the lease does not exceed five years, he/she does not require any prior permission from the RBI.

  6. 6
    Do NRIs require consent of the Reserve Bank of India (RBI) to buy immovable property in India?

    No, NRIs don’t require consent from the RBI to buy an immovable property in India, provided the property is residential or commercial in nature.

  7. 7
    What is meant by a person resident in India?

    As per India’s Foreign Exchange Management Act (FEMA) 1999, a person resident in India is a person residing in India for more than 182 days during the course of the previous financial year (April-March) and who has come to or stays in India either for employment, business or for any other vocation.

  8. 8
    Are there Any Tax Benefits For Non-Resident Indians buying properties?

    No tax benefits are available for NRI’s unless you file your returns and subsequently become eligible to avail the tax benefits.

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