What Documents do NRIs Need when Buying Property in India?

Are you a Non-Resident Indian (NRI) who wants to purchase a property in India? If so, there are certain documents that you need to have in order to make your purchase legal and valid. In this blog post, we will discuss the different documents that NRIs need when buying property in India. 

Registration Document 

The registration document is one of the most important documents you will need when buying a property in India. The document must include all the details of the sale, including the date, signatures of both parties, and any other relevant information. This document should be filed with the local registrar or sub-registrar as soon as possible after the sale has been completed. 

Property Tax Receipts 

Another important document that NRIs need when buying property in India is a valid property tax receipt from the state government where the property is located. This receipt serves as proof that all taxes related to the property have been paid and can be used to verify ownership of the property. It is also important to calculate capital gains tax when selling or transferring a property. 

Resident Status Proof  

The first document required for NRIs is resident status proof. This document shows that they are non-resident Indians (NRIs) and not Indian residents. It is important to show this proof because there are different rules that apply to purchasing property in India based on whether you are a resident or a non-resident. Generally, NRIs have fewer restrictions when purchasing property than Indian residents do.

  

Power of Attorney Document  

The third document required for NRIs is a power of attorney document if they cannot appear at the time of registration for the transfer of title deed and other related papers due to their being out of India at the time. This document allows them to appoint someone else as their legal representative who can act on their behalf and manage all legal aspects associated with the purchase and sale of a property in India.   

Conclusion:  

Buying property in India as an NRI has become increasingly popular over recent years, but certain documents are required before making this investment. These documents include resident status proof, proof of source of funds, and a power of attorney document if they cannot be present at the time of registration due to being outside India at the time. Having these three documents ready can help make your experience smoother and hassle-free when it comes time to purchase your dream home in India!