Immovable Property Matters

Immovable Property Matters For OCI/PIO and for Domestic Clients

A property or better known as asset is deemed immovable when it cannot be moved from one location to another as any move will surely impact its qualities, originality, environmental benefits associated with it, and even its shape. For example, you cannot move an entire piece of land that you own from seashore to away from it, or you cannot bring that piece of land closer to seashore to give a more relaxing environment to your property. Even though one can transfer property rights in different manner and different situations or enjoy the benefits arising out of that property, but he cannot in any case move that property per his wishes. So, in order to maximize on investments and to get the best benefits of owing an immovable property, one needs to exercise his best available legal options by discussing any of his immovable property matters with legal experts who can assist him in achieving his desired goals.

Three Different Types of Immovable Property Owners Based on Nature of Investments

Economically speaking, an immovable property can be differentiated into three different categories as follows:-

  • Private Property – The owner of an immovable property is the sole decision maker or profit earner of that property as he enjoys exclusive rights on that property. At the same time, being the sole investor in using his money to buy this property, he becomes the legal owner of that private property.
  • Public Property – A property is known as public property where the investment to buy it is coming directly from public money or fund, and there is no sole owner or beneficiary who enjoys exclusive rights on the entire property, as the benefits of such a property are shared and transferred to the public, and such properties cannot be used or misused to accomplish selfish interests or objectives of anyone of its caretakers.
  • Collective Property – If a property belongs to a group of people who have formed a trust, cooperative society, or an NGO for using the property for a specific purpose, it is deemed as collective property, and the ownership rights belongs to all the members of the trust or the members of the society.

So, before anyone shall make decision in relation to buying either a private property, public property, or a collective property, the legal aspects, benefits, and rights related to ownership of the any such property must need to be carefully scrutinized, examined, and understood in order to fully enjoy that property and to ensure making the best use of that property and the investments.

Immovable Property Matters for Non-Resident Indian Nationals

As per provisions for real estate regulation, Govt. of India grants special rights to Indian nationals residing in other countries called NRIs, OCIs, or PCIs to buy any immovable property in India, and they need not to pay any taxes for making such an investment in India. This concession is specifically granted with the aim of solely encouraging foreign direct investments in boosting the Indian real estate and economy as well as encouraging rapid development of infrastructure. So, any Indian national who enjoys active citizenship of other countries can still buy and invest in an immovable property in India, except for Indian nationals having active citizenship of Pakistan and Bangladesh. So, one needs to be aware of legal nitty-gritty’s involved with buying an immovable property in India before you can safely make an investment for which one should seek legal advice by experts.

Knowledgentia Consultants – Your Expert Professional Escorts to Make a Profit-Yielding Investment in India

We, at Knowledgentia Consultants, are a team of advocates, paralegal, secretaries and revenue experts for managing the legal issues faced by Non-Resident Indians for their immovable properties based in India. Our scope of work includes identifying their rights to property in India either through succession, inheritance, sale or gift. We have had hands-on experience to deal with properties and real estate in all aspects, commencing from the stage of ownership, document review & correction, litigation, mediation, settlement, transfer of ownership till the stage of its management, sale or rental as required by the client. We are preferred consultants for property related matter of NRI clients because:

  • Our team has legal experts in property issues.
  • Our team has extensive knowledge of revenue records.
  • We obtain complete records from concerned offices and authorities.
  • We have years of experience in revenue courts, district courts, high courts and Supreme Court.
  • We have a wide network of associates across India.
Aparna Jain
Lawyer
Lawyer & Founding Partner
Harinder N
Lawyer
Lawyer & Founding Partner
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