By drawing up a power of attorney for nri to sell property in india you can get your transaction done without having to travel all the way to india.
General power of attorney format for nri to buy property in india.
If you are an nri and you want to conduct a large financial transaction in india like selling a property this could become a huge hassle if you have to travel to india and back all the time there is a simple solution to this.
Registration of power of attorney received in india from the nri one copy of the power of attorney deed signed by you and notarized by the indian embassy consulate should be registered in india in a registrar office by the holder who is receiving the power of attorney.
General power of attorney format of power of attorney instructions when power of attorney is executed in india by non resident indians 1.
The power of attorney is to be executed on a non judicial stamp paper of the requisite value as per the stamp duty prevalent in the respective state rs.
The same poa can be used for managing home loans in india by a member of family.
First of all write a power of attorney on a plain piece of paper and sign it.
The falling interest rates and the weakening rupee have made real estate purchases in india an attractive proposition for nri investors.
6 registrar will keep a copy of poa in government records and provide one to you with his office registry stamp.
The following steps will help you to have a detailed idea of how to get power of attorney.
How to get power of attorney.
General power of attorney format sample.
It specifies exactly what deeds or transactions the designated person can complete on your behalf.
While making the general power of attorney from outside india make sure that your deed includes these details.
At this time your simple poa becomes registered power of attorney.
Registering the power of attorney is a simple process.
While this may be a good time to find a suitable property and seal the deal the coronavirus pandemic will make it difficult for nris to travel to india to complete the transaction.
An nri non resident indian can use the special power of attorney to buy sell or take possession of a real estate property in india.
Write the power of attorney on a plain sheet of paper.
Most nris have properties read our resource on how to sell your property in india and bring back money to usa and banking business in india which may require their presence while transactions.
A special poa is narrower in scope.
Power of attorney nri buying property in india 5 registrar will click and store picture of you poa holder and the witnesses in the government records.
Grantor s details the name age foreign address indian address and occupation of the person making the deed should be mentioned first.
Special power of attorney format.
A general poa gives the designated person a larger scope of power to complete multiple transactions or deeds that is expected.
Now let s come to the main agenda.
