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Burman (X)     07 August 2012

Execution of agreement to sell / purchase by nri

My wife and I are NRIs in UK and plan to sell a co-owned property in Vashi (Maharashtra). Please advise if the Agreement to Sell/Purchase, where the parties agree to the terms and conditions of the sale, be executed by the sellers at the High Commission of India at London and subsequently by the buyer at the registrar, under whose jurisdiction the property is located. Kindly point out the relevant law. Kind regards,



Learning

 3 Replies

ABHIJEET PARIKH (Bcom LLB MBA)     08 August 2012

Dear Burman

You can sign the sale document in front of the Indian consulate officer in UK and the same shall be attested by them in the form of declaration. You can approach local india consulate office were they will guide you You can also execute a registred POA (specific POA to sell the property) in favour of some relative or friend in INDIA and they will in turn can execute the documents

Your best guide could be Indian Consulate officers in UK

Regards

Abhijeet 

Burman (X)     08 August 2012

Thanks Abhijeet. I will consult the Consulate officers. Burman

ABHIJEET PARIKH (Bcom LLB MBA)     08 August 2012

The purchase and sale of immovable properties in India by a Non Resident Indian (NRI) or by a Person of Indian Origin (PIO) is really a very simple and easy affair with not much hassles and problems. For a detailed and authentic answer one should always refer to the Foreign Exchange Management (Acquisition and Transfer of Immovable Properties in India) Regulations, 2000 as amended from time to time.


The above regulations have been notified by the Reserve Bank of India vide Notification No. FEMA/21/200-RB dated 3rd May, 2000. Likewise, to get a latest update on the subject the readers may also very carefully go through the latest Master Circular on Acquisition and Transfer of Immoveable Property in India by Non Resident Indians/Persons of Indian Origin which has been issued by the Reserve Bank of India vide Master Circular No.4/2012-13 dated 2/7/2012.


 


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