Thanks for the information. I was told that POA can be taken on a simple plain paper and get it notarised through some US notary authority like a bank. Do we need to sign it in front of Consul officer in Indian embassy with photographs affix?? Kindly advice as I need to send one POA urgently to India in the name of my father.
Kind Regards,
Umesh
Quote:
Originally Posted by Pinnacle
Hi
A NRI can certainly buy a property while not in India thrrough his representative/freind/family member/relative
You would have to follow certain norms which can make your property buying experience a pleasant one
1. Execute a Special Power of Attorney in name of the Person who will be signing the agreements and other documents on your behalf. The Power of attorney has to be signed in front of the consul officer in the Indian Embassy of the city n country where you are located. Affixing photograph and the left thumb impression alonwith your signature is essential. You can then send the POA to India, where it has to be adjudicated. After the adjudication process, the POA is ready for use in India for buying any property.
2. Payments for purchase of property has to be made from the NRE account which should reflect the remmitance made by you from abroad.
3. Engage a local lawyer to carry out due diligence on your behalf even if you have a housing finance company doing it for you already.
4. When buying from a builder, keep copies of all correspondences you do with the builder for your records. This can help you in future
5. Carefully read the fine prints of the Agreement for Sale and undertand your rights and remedies as a buyer
Hope this helps
For any more information, feel free to ask me
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