Documents NRIs Need While Buying Property in India

India is a popular tourist destination for wealthy Indians from all over the world. Recently, a weakening currency, which is difficult for the Indian government, has provided a fantastic opportunity for non-resident Indians (NRIs) to invest more in this market. However, NRIs must be aware of the documentation required to complete the transaction while investing.

Many NRIs buy property in India for a variety of reasons, including long-term investment, a place to stay when they return home, and a way to maintain an emotional connection to India or their family. When you begin the process, you will notice that there are a few formalities and paperwork that must be completed before you can buy real estate in India. Here's a quick rundown of everything you'll need.

1. Indian Passport Of Person Of India Origin (PIO) Card Or Overseas Citizen Of India (OCI) Card

NRIs need an Indian passport to invest in real estate in India. Assume you once held an Indian passport but are now a non-citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal, or Bhutan. You will need a PIO (person of Indian origin) card in that case. If your father or grandfather was an Indian citizen and you are a foreign citizen, you will need a PIO card. In other words, if you have a foreign passport, you must have a PIO card. An individual who is not an Indian citizen but was qualified to become one before or after India's partition (or the child of such a person) would require the assistance of an Indian citizen living abroad (OCI).You can apply for these cards at the Indian embassy or consulate in the country where you currently reside. You may be required to present your parents' birth certificates as proof that you are an OCI or PIO.

2. Permanent Account Number Card

NRIs require a PAN card because they are required to file income tax returns if they rent out their property. Furthermore, if the property is later sold, all capital gains from the sale will be taxed. Capital gains would be taxed and counted as part of total income.

3. Power of Attorney

Give someone in the city where you are buying a house an extraordinary power of attorney. If you are an NRI who does not frequently visit India, you will find it much easier to complete registration, sale execution, possession, and other processes.

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Godrej Woodland is a Godrej Properties residential development located on Sarjapur Road in Bangalore East. The Godrej group provides Land with a perfect blend of contemporary architecture and features to ensure a comfortable living environment through this project. The project is spread across 100 acres of land. There is 58% open space. A total of 1241 lodging units have been provided. 33 amenities are available to improve your living experience. The smallest plot is 900.0 square feet, and the largest is 1800.0 square feet. The project began in February of 2021. Godrej WoodLand has a total of 700 apartments. Godrej WoodLand is located on Sarjapur Road, Chikka Tirupathi, Carmelaram.

It's an East Bangalore address that takes your breath away the moment you walk in. This address offers you close to the conveniences of city life while also bringing you closer to nature. It is well-known for its exceptional green cover, excellent connectivity, ease of access to public transportation, proximity to selected IT parks, and the best of metropolitan luxury. From here, you can get to Koramangala, Whitefield, the outer ring road, Marathalli, and many other places. This location is also a hub for many IT businesses, making it a well-known residential area that provides a high-quality living environment.

Godrej Splendour

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