Dear Sir,
The query is related to purchase of residential flat by NRI/POI.
1. Can it be purchased jointly with an indian resident but not a close relative. (cousin)
2. Canit be purchased by NRI and gifed the same day to indian resident after complying stampduty and taxation rules.
3. If the property is funded by NrI/PIO, my contributon and my frends contribution(each around 30%) how should the payments be made though it is mandatory for the property to be registered in the name of the NRI. Both me and my friends are resident indians.Have we to directly pay thebuilders or route it through NRO a/c of the PIO
