Buying your own immoveable assets has never been easier for NRIs and PIOs
The ubiquitous apothegm – “Out of sight, out of mind” – might hold some veracity in its basic premise, but not when it comes to our NRI and PIO counterparts. Albeit, they might be residing a couple of thousand miles away, they certainly have a soft spot for their homeland.
Difference between NRIs and PIOs
A Non-Resident Indian (NRI) is a citizen of India who holds an Indian passport and has temporarily immigrated to another country for six months or more for employment, residence, education or any other purpose. Person of Indian origin (PIO) on the other hand, is a person of Indian origin or ancestry but is not a citizen of India and is the citizen of another country. A PIO might have been a citizen of India and subsequently taken the citizenship of another country, or have ancestors born in India or other states.
Although there have been targeted efforts to make the process of owning immovable assets rather straight-forward, it is still an arduous task for individuals not residing in India.Challenges:-
Lack of clarity on legal rights: Many NRIs are obscure to the law and don’t realize their institutional rights. There have been innumerable fraud cases of NRIs being sold agricultural/farmland even though it is prohibited by FEMA.
Unscrupulous builders: Builders only care about remunerative gains; it is highly advised that one should look into the previous track record of the builder before opting to invest in any of his or her real estate projects.
Property Gatecrashers: This issue has been omnipresent since time immemorial. Surprisingly, in a large number of such cases, the land grabber or person taking undue advantage with illegal possession is known to the NRI.
Exorbitant prices: Often, agents and legal consultants charge inordinate amounts of money for rather economical services.
Knowledgentia is a firm that will provide you a 360 degree service, constituting of a team of advocates, paralegals, secretaries and revenue experts for managing the legal issues faced by NRIs and PIOs. Their scope of work includes identifying rights to property in India either through succession, inheritance, sales or gift. They are an erudite team of individuals who have had hands on experience with property dealings and real estate. According to the need of the client, their ambit starts from the stage of ownership, document review, correction, litigation, mediation, settlement and culminates in transfer of ownership till the stage of its management, either sales or rental. Their team has legal experts in property issues and extensive knowledge of revenue records - coupled with years of experience in revenue courts, district courts, high courts and Supreme courts - one just can’t go wrong by opting their services.
Leveraging the added on benefits of transparency in operation, hassle free and budget friendly processes, and an approachable team of individuals; NRIs and PIOs can now enjoy the benefits of the Knowledgentia Portal to fulfill the dream of a place to call home.