FAQs-Buying or selling

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The documents required to buy property in India may vary depending on the type of property and location. Generally, the common documents required include:

   - Identity proof (such as passport or Aadhaar card)

   - Address proof (such as passport or utility bill)

   - Proof of Indian Visa (For Foreign Nationls)

   - PAN card (Permanent Account Number)

   - Photographs

   - Power of Attorney (if applicable)

   - NOC (No Objection Certificate) from the builder or society

   It is advisable to consult with a real estate lawyer

There are several taxes involved in buying property. Some common taxes include:

   - Stamp Duty: This tax is levied on the property's sale agreement and varies from state to state.

   - Registration Fee: This fee is paid to register the property in the buyer's name at the local sub-registrar office.

   - Goods and Services Tax (GST): Applicable on under-construction properties, with rates varying based on the property type and location.

   - Property Tax: Levied annually by the local municipal authorities.

   It is advisable to consult with tax professionals to understand the specific taxes applicable to your property purchase.

There are generally no restrictions on selling property in India. However, certain restrictions may apply for agricultural land, heritage properties, or properties near defense areas. It is important to review local regulations and any specific conditions mentioned in the property's sale agreement. Additionally, if the property is being sold by a foreigner, they may need to comply with foreign exchange regulations and repatriation guidelines. Consulting with a legal expert can help clarify any restrictions or obligations related to selling property in India.

To verify the legality of a property, you can undertake the following steps:

   - Inspect the original sale deed and purchase agreement.

   - Verify the title of the property by reviewing the chain of ownership (Encumbrance Certificate).

   - Determine if the property has any pending litigation by conducting searches at relevant courts or with local authorities.

   - Verify if the property has received necessary approvals from municipal authorities and has proper building permits.

   - Engage the services of a professional real estate lawyer who can conduct due diligence and verify the property's legality.

   It is advisable to consult with legal experts and engage professional services to ensure a thorough verification of the property.

Yes, foreigners are allowed to buy property in India. However, there are certain restrictions and guidelines they need to follow. Non-resident Indians (NRIs) and Persons of Indian Origin (PIOs) are allowed to purchase residential and commercial properties in India without any restrictions. Foreign nationals who do not fall under these categories can generally buy residential or commercial property with approval from the Reserve Bank of India (RBI) and by adhering to certain conditions.