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NRI- buying property, procedures

Discussion in 'Housing' started by vijikrish, Dec 22, 2010.

  1. vijikrish

    vijikrish Gold IL'ite

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    Hi Shanthi/friends,

    Pl. advise on procedure to apply PAN card for NRI to buy property inIndia. I have finalized to buy property in Nolambur and gave down payment already...

    thank you for your help.
    Viji
     
    Last edited by a moderator: Jan 8, 2011
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  2. Savvyheal

    Savvyheal Gold IL'ite

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    Re: Procedure to apply PAN card for NRI to buy property

    Dear Viji Ma'am,
    First of all hearty congrats on acquiring a property at Nolambur.
    You may opt for New PAN application through online services from the NSDL site.
    There you will see form 49 A . Instructions are given there.
    Kindly give the overseas address, which is mentioned in your Bank Statement.
    You have to pay only thru DD for Rs.744.
    Once the form is carefully filled up, check the contents and click submit.
    You may have to paste the photo and send the hard copy along with DD to NSDL, Mumbai.
    You can track the status of PAN allotment details.
    All the very best!

    Love Thanks Divine,
    Savvyheal
     
    Last edited by a moderator: Dec 23, 2010
    1 person likes this.
  3. vijikrish

    vijikrish Gold IL'ite

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    Last edited by a moderator: Dec 23, 2010
  4. vijikrish

    vijikrish Gold IL'ite

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    Power of attorney for NRI to buy property

    Dear friends & Shanthi mam,
    I have finalized property in Nolambur & now want to know what is procedure to give power of attorney to my relative to buy property in chennai. Does procedure based on registration office? Any advise will help.

    Thanks,
    Viji
     
  5. Savvyheal

    Savvyheal Gold IL'ite

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    Re: Procedure to apply PAN card for NRI to buy property

    Dear Ma'am,
    You may log into NSDL site.
    UTI is a facility centre for submitting PAN application.
    Instead, you may directly log into NSDL site.
    Since the forum rules does not permit for posting external links, I have not posted.
    Kindly do search in any of the search engines. You will be able to get it.

    Love Thanks Divine,
    Savvyheal
     
    1 person likes this.
  6. achoo

    achoo New IL'ite

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    power of attorney

    how do I get back the power of attorney I gave to my brother years ago who lives in chennai and I live in the usa? can someone tell me the details this is a general power of attorney.
    thanks
    achoo
     
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  7. rampaadh

    rampaadh New IL'ite

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    Re: Power of attorney for NRI to buy property

    I am also looking for the power of attorney procedure... I live in Illinois. Any guidance would be greatly appreciated..
     
  8. Shanvy

    Shanvy IL Hall of Fame

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    Re: Procedure to apply PAN card for NRI to buy property

    savvy,

    When the links are to educational or government sites and are not profitable to us, i guess it is not a issue. go ahead and give the link.
     
  9. Shanvy

    Shanvy IL Hall of Fame

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    Re: Power of attorney for NRI to buy property



    Viji, congrats. curiosity killed the cat. who is the builder and what is the rate.
    :hide:. what happened to the other proposal you were discussing last year??

    the poa procedure is a lengthier one but safeguards the buyer.




    For all the nri's the power of attorney documents and the procedure will definitely be posted in the website of the indian consulate who are authorised to attest the document without which it is not valid.


    Right now the rules governing the poa has changed. like you need to specifically mention why you are giving a poa. like last year we sold a property, and dh was abroad, and i had to sign during the registration. the poa had to mention that this was just for this property alone. because of lot of fraudulent activities, the noose around the general power of attorney is tightened, we took the services of a legal person.


    if you are interested you can read the details in these articles from the hindu.

    http://www.hindu.com/pp/2007/12/08/stories/2007120850090700.htm
    The Hindu : Property Plus Chennai : All about Power of Attorney
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    The Hindu : Property Plus Coimbatore : Registration of Power of Attorney to become compulsory


    So what are the pre-requisities for the poa from outside india say usa.


    POA has to be executed according to USA laws ( with stamps)
    It has to be notarized by a notary public in USA
    It has to be attested by INDIA consulate in USA
    POA sent to India and your attorney in india will sign it.
    Notarized and stamped according in india
    Registration of POA with the sub register office of identified land/property for purchasing
    Only special POA and not General Power of Attorney is accepted in case real estate
    Grantor shall sign all the pages of POA which you will be aware.

    the best way is to ask your person in india, to get in touch with a legal lawyer who will draw the documents as per requisite or will guide you accordingly.


    And if it is a power of attorney for the purpose of loans, then the banks have their own formats. will attach the formats i right now have in my system.

     

    Attached Files:

    Last edited: Dec 23, 2010
  10. Shanvy

    Shanvy IL Hall of Fame

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    Re: power of attorney

    Achoo,

    the replies to the above query is almost answered in the reply i have posted before this one.

    you can always revoke a power of attorney. a legal person can guide you better.
     

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