Property transfer to foreign region non-resident person.
KRIPAL singh
(Querist) 07 February 2012
This query is : Resolved
Dear sir,
My friend is want to purchase in delhi but there is a problem that he is living in outside India. Further my question is-
1. Can he is purchase any property in his name?
2. Can He is sale that property which he had bought?
3. How can he pay the value of property?
4. Any legal obligation is required to purchase/sale of property?
5. Any kind of tax should be pay him after purchase/sale the property?
He is my friend and as a friend i want to help him.
Devajyoti Barman
(Expert) 07 February 2012
1. Yes. If he is foreign national then prior permission of RBI is required.
2.Yes
3.By payment of INR.
4. specify the query.
He is your client and you want the reply for your professional purpose.
M/s. Y-not legal services
(Expert) 07 February 2012
yes sir., you can collect this details by paying consulting fee..
first i feel that why barman sir stating like that., then again i got him.. your last line showing your face.. any way nice thing done by you barman sir..
-tom-
V R SHROFF
(Expert) 07 February 2012
“SORRY, Can't reply THESE TYPE OF QUERY having Repetitions, Academic, contains SMS Language, Commercial, Vague and Imaginary query.”
ajay sethi
(Expert) 07 February 2012
agree with experts .
KRIPAL singh
(Querist) 07 February 2012
Dear all,
he is my friend only and i am not going to charge any kind of charges against this help. I already told him that i am dealing only sales tax matters and never dealt such kind of cases. Thereafter for knowledge purpose i put up this question in this site.
ADV. TOM,
last line of my question was not showing my face dear, you have visited my profile recently then you wrote your reply. Any way thanks for your reply and i also want to give that all of you who's replied on my question.
Thanks & Regards
Adv.Kripal Singh
Sailesh Kumar Shah
(Expert) 08 February 2012
Derar Mr. Kripal Singh
If your friend is NRI i.e. indian origin then permission of Reserve Bank of India doesn't require.
malipeddi jaggarao
(Expert) 10 February 2012
1.yes
2.yes
3. Either from outside remittances (can be routed through his NRE account) or accumulations in India in his NRO Account.
4. He may have to come personally at the time of registration or he can give power of attorney to his trusted person. If the registration is to be done in his absence, better consult sub-registrar office, there is a specific form on which the buyer has to affix his photo, signature and thumb impressons.
5.No need
KRIPAL singh
(Querist) 12 February 2012
I have read FAQS of RBI WEBSITE that a foreign region non resident person not purchase immovable property in India. Here i am sharing link for experts opinion. Please read and explain if YES, so how?
http://www.rbi.org.in/scripts/FAQView.aspx?Id=33
KRIPAL singh
(Querist) 07 March 2012
I haven't received any proper resolution from the site. I have searched the solution myself further no need to open the topic/query. But i am very thankful to all experts who have took interest and replied.
Thanks & Regards
Adv. Kripal Singh
DEFENSE ADVOCATE.-firmaction@g
(Expert) 08 February 2012
