Friday, 6 April 2018

3 Documents That are Important for NRIs Buying Property in India



Real estate is considered as one of the important investment options by NRIs due to the prospect of high returns as well as an emotional attachment of owning property in one’s hometown. Long-term goals also include a safe retirement plan too. But for all these to turn into reality, the process of property buying should be carried out in a hassle-free method. Knowledge of the documents and procedures involved are vital for a seamless registration process.

Listed below are 3 important documents that are required for NRIs to purchase property in India.

1.   PAN Card – For filing income tax returns if the property is rented or for taxing capital gains when sold later.

2. PIO/OCI Card – Person of Indian Origins card or Overseas Citizen of India card.

3.   Power of Attorney – Recognising an authorized person to stand in during the documentation process if the NRI is not physically present for it.

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