So we treat all kinds of property related services to the Non Resident Indians (NRIs) across Delhi, Noida, Greater Noida and Ghaziabad and other parts of NCR. We are also experienced in offering amazing legal solutions to the NRIs as well.
We can totally understand that our clients have very crucial time in India and they come here for a very short span. It is impossible for them to visit the country over and over again over a period of time and hence we try to finish the work as soon as possible and we do not like lingering things. We would finish the work as soon as we get it and won’t bother our clients further.
So we have a specialised team that would work on behalf of our clients. In most of the cases we do not even require our clients to stay in India when the work is done. We would arrange everything in such a hassle free manner that government officials would never get a chance to harass our clients.
We have been in the business since long. We have been successfully handling our clients’ accounts for so long and all of them are pretty happy with our services. Registration of documents and legal drafting is like a practice match for us. We have done these things before and we have been doing this since long. All the necessary departments where the things are needed to be done, we have our work connections. We make sure that our clients do not face any sort of problem. We are there to handle all the tough parts of the job.
We have been doing this one a regular basis and we have a strong and happy client base that comprises of NRIs from different parts of the world such as UAE, United States of America, Canada, United Kingdom and so on!
Services offered:
- Services offered by the company is huge and vast. Sales deed and lease agreement is prepared for the clients. License agreement is also get done here.
- Mortgage deed, property deed, partnership deed, adoption deed, trust deed and etc things are prepared for the high end clients.
- Non disclosure agreements, certified copies of the documents, all kinds of bonds and deeds are prepared under the surveillance of axpert people of the company.
Presently more than 30 sub registrar offices are present across NCR. all kinds of papers and deeds will be prepared in any of these sub registrar offices. In addition to these services, there are several other services available that one can avail any day. These specialised services are:
- Trust and society’s registration.
- All kinds of attestation needed by the seller and the buyer and the government.
- Obtaining all types of certified documents duly signed and attached to the main copy.
These are some of the most amazing and outstanding services offered by us. We have several rules and regulations for the easy and quick service. The buyer definitely needs to follow all the rules as money cannot save you always!
Points that NRIs should know and remember:
- As per the government rules, the NRIs can go forward and acquire any kind of immovable property except plantation, agriculture and farm house. To acquire any of these properties, the NRI definitely needs to take permission from the Reserve bank of India.
- The person that are buying the property doesn’t need to provide any declaration. He or she just needs to submit the details of the property and the cost of the property so that there’s no glitch during they are getting back to where they live presently.
- A person residing in India can definitely go ahead and buy an immovable property any day and for that the person doesn’t need to take permission from Reserve Bank of India. But then if the land is an agricultural one or a plantation or a farmhouse, then one definitely needs to contact the RBI in the first place.
- The lock in period for the property deal is 3 years and the current buyer and seller should definitely follow that.
- So the PIOs and NRIs are permitted to transfer by the means of mortgage to a renowned and reputed company.
- The NRIs and the PIOs can definitely get a housing loan in the form of rupees from an authorized housing finance company established in India. The money can be received from an institution approved by the national housing finance bank for different purposes. One can get this money for repairing, renovating and improving certain parts of the house in return for a certain set of rules and regulations.
- The commercial and residential properties that are going to be sold or be renovated which was received as a gift to the NRIs and the PIOs will conduct through the NRO account only!
- So the NRIs or the non resident Indians can definitely go forward and give the permission to one of their relatives to conduct the buy. They can give the power of attorney to anyone of their choice as it is impossible for them to come and attend all the phases of buying the property for their packed schedule. Buying a property is not done with a few hours or within a few days. It is a long process with several tires. So if an NRI is going to buy a property in India, they have to give the power of attorney to someone else of their choice. Negotiating with the seller or the builder is a huge, long and tiring process. The NRI cannot handle all such stuff as they have little time in their hands. They would be needed during the formation of the contract, they will also be needed at the time of possession. All these processes are tiresome and lengthy and hence any person present in India can go for the deal on behalf of them. But the person chosen for the task must possess a power of attorney with them. The power of attorney should not be prepared in India, if it is prepared in India, it is not valid at all! The power of attorney should be prepared in another country rather than India on a stamp paper and in front of the proper authorities.
- Residential properties that are bought by the NRIs or the PIOs can be given on rent if the person is not going to take possession of the house on urgent basis. So the rental received from this house cannot be refunded to a foreign bank. The money will get deposited to an Indian bank only and in the form of Indian rupees only. Lots of rules and regulations are there and one needs to know all the pros and cons of all these procedures.
- It is true that not everyone is interested about the rules. But as you are an NRI and it is absolutely tough for you to buy a property in India, you need to know all the loopholes and other problems. You have to save yourself and your house from all the bad things that might happen. The stamp paper of the power of attorney should be done properly. One needs to make sure that this is a major paper and the NRI family cannot be present during all the phases of the purchase. So the paperwork should be done properly without much fuss.
Tax rules:
- The NRI doesn’t need to pay any type of tax during and immediately after the purchase of the flat.
- During the selling of the property, the seller needs to pay a certain sum of money as tax. If the person that is going to sell the property had the house under his possession for less than 3 years, then the tax amount paid by the person is around 30%. If the property was under possession for more than 3 years, then he needs to pay 20% tax. If the house is on rental, then also the rent needs to be paid.
- If the property is going to be given on rent, then the person needs to show his PAN card asked by the authority.