Power of attorney to buy property in india

@Querist,

I don't know how to react on the advice already given to you to acquire POA. It's really  interesting that lawyers club experts suggest such kind of advice.Also you don't need permission of EMBASSY.

Anyway,following should be noted in view of your query-

1.You don't need any POA for buying property in india.POA is needed when you wanted to sell your property in India which you already had acquired before becoming an NRI and you don't want to come in INDIA.In such a case,you can sign a POA with the person in INDIA to sell your property.But then also you will need NRE account or NRO account to transfer the fund so obtained.

2.You can directly buy a property in INDIA but that must not be any agricultural land or Farm house.

3.Your transaction will come under FEMA rules.

4.All transaction in this context will be done with an NRI,NRO,or FCNR(Foreign currency Non-Resident account).Get such an account opened In INDIA.

5.Hire the services of a local tax advisor.

Hope that suffice.

Note-This reply should be taken as per the declaration given in my profile page.

Thanks,

Regards,

HI experts,
 
One person has executed GPA in 1985 long back to his person regarding to sell, mortgage,obtain bank loan etc., Now the GPA holder has expired few years back( 3 to 4years back).
 
Now what is the legal stand for actual owner of the property [who executed the GPA] can he sell the property/can he do again GPA on anyone. or first he has to cancell GPA of the previous one who has expired.

 
Please Explan.

Thanks for replying @Rajeev Kumar & @Sumitra Kumar.

@Sumitra Kumar -

As you have suggested that I don't need PoA for buying property in India - so if i buy property through my NRE (will this work or I need NRO/NRI account?) account, can it be registered on my name in my absense here?

I'm going to talk to CA today about my situation and will come to know more about it.

Once again thanks very much for replying.

Thanks.

@Querist,

POA is not essential for buying property in INDIA.But since you have less time, you can go for POA or SPOA. In case you go this way, then You must get the PoA attested by any authorized official of the Indian Embassy/Consulate/Trade commissioner in that country.

To open such account you must be phsically present in INDIA.

Whether you want to open an NRE or NRO or FCNR account depends upon you.There are certain advantages along with certain disadvantages.

I provide certain link to know what are such advantages or disadvantages-

https://www.mynriclub.com/site/NRI-Finance/NRI-Account/NRO-vs-NRE-vs-FCNR

https://www.rbi.org.in/scriptts/FAQView.aspx?Id=69

https://investmentyogi.com/nri/nre-v-s-nro-v-s-fcnr-accounts-which-is-a-better-option-for-nri-s.aspx

Hope that suffice.Get in touch with a CA.

Note-This reply should be taken as per the declaration given in my profile page.

Thanks,

Regards,

Originally posted by : devraj
	HI experts,   One person has executed GPA in 1985 long back to his person regarding to sell, mortgage,obtain bank loan etc., Now the GPA holder has expired few years back( 3 to 4years back).   Now what is the legal stand for actual owner of the property [who executed the GPA] can he sell the property/can he do again GPA on anyone. or first he has to cancell GPA of the previous one who has expired.   Please Explan.

Since the person expired, that contract of POA becomes void. You are free to sign a GPA with another person.

Note-This reply should be taken as per the declaration given in my profile page.

Thanks,

Regards,

Dear Sir,

I advisible to hire a lawyer to draft the POA .. such templates will not be so helpful you can only get the format ....for any help or query do rpely back

An NRI needs to sign the power of attorney before a consulate officer or a notary in the country of his residence. The signature on the deed has to be attested by the consulate officer or notary.