1 / 9

Can I Buy Property in India with OCI

Understanding the legalities and benefits for Overseas Citizens of India (OCI) in purchasing property in India. Read this pdf to know about OCI.

Omaxe1
Download Presentation

Can I Buy Property in India with OCI

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Can I Buy Property in India with OCI? WWW.OMAXE.COM

  2. Who is an OCI? An Overseas Citizen of India (OCI) is a person of Indian origin who holds citizenship of another country, but has been granted certain privileges in India. Eligibility: Any person who was a citizen of India on or after January 26, 1950, or who belonged to a territory that became part of India after August 15, 1947. Understanding the legalities and benefits for Overseas Citizens of India (OCI) in purchasing property in India.

  3. Legal Framework for OCIs Buying Property in India Indian Law: Foreign Exchange Management Act (FEMA) governs property transactions by OCIs. Permissible Property Types: Residential and commercial properties can be purchased. Restrictions: OCIs cannot buy agricultural land, plantation property, or a farmhouse.

  4. Documentation Required OCI Card: Proof of OCI status. Passport: Valid passport from the country of current citizenship. PAN Card: Permanent Account Number (PAN) for financial transactions. Address Proof: Residential address in a foreign country.

  5. Process of Buying Property Property Search: Identify residential or commercial property. Legal Verification: Conduct due diligence on property titles and ownership. Agreement to Sell: Draft and sign a sale agreement with the seller. Payment: Payment should be made through normal banking channels or NRE/NRO/FCNR accounts in India. Registration: Register the sale deed with the local sub-registrar.

  6. Financial Aspects Funding: OCIs can fund property purchases through NRE, NRO, or FCNR bank accounts. Home Loans: OCIs are eligible for home loans from Indian banks. Tax Implications: Understand the tax implications, including TDS and capital gains tax on property transactions.

  7. Benefits of Buying Property as an OCI Investment Potential: High returns on investment in the Indian real estate market. Emotional Connection: Owning property in one's country of origin. Ease of Living: Availability of a personal residence during visits to India.

  8. Common Challenges and Solutions Legal Complications: Hire a legal expert to navigate property laws and regulations. Market Research: Thoroughly research market trends and property values. Property Management: Consider hiring a property management company for maintenance. Final Advice: Conduct thorough research and seek professional assistance to ensure a smooth transaction.

  9. Get in Touch for more Info 1800 102 006 www.omaxe.com care@omaxe.com Shop No. 19 B, First Floor, Omaxe Celebration Mall, Sohna Road, Gurgaon, Haryana- 122001

More Related