Posted On: August 21, 2023

PROPERTY LAW IN INDIA AND ITS RELEVANCE FOR NRIs

property law in india and its relevance for NRIs

INTRODUCTION
Talking about the present scenario of the Indian real estate market it is expanding and flourishing every single day. To be more precise, India’s real estate market is the most dynamic and fastest growing in the world. It has become an attractive option for investors. It is vital to safeguard the interests of investors, NRI’s and other stakeholders associated with the real estate market. To avoid any disputes and take corrective action, the government has enacted property laws. Property laws, policies or rules including but not limited to the Transfer of Property Act, The Indian Contract Act, The Registration Act, The Indian Stamp Act, RERA, Real Estate (Regulation and Development) Act, 2016, Land Acquisition Act, FEMA (Foreign Exchange Management Act, 1999) etc govern property transactions in India.

ABOUT PROPERTY LAWS
Property can be either movable, immovable, tangible or intangible in nature. There are certain legalities associates with transfer of property whether movable or immovable.  Investment in property, documentation, loan availability, tax implications, claim of ownership, property transfer, title search, partition, succession are few areas that require clarity of rights and government policies.

NRI’ S AND PROPERTY LAW
Real estate has been a popular investment option among NRIs. tooNRIs are  people of Indian descent who reside outside of India and if they acquire immovable property either through succession, will or as an asset they have to comply and be aware of the legal requirements to ensure a smooth compliance. NRIs must take into consideration legal implications associated dealing in property in India. At Knowledgentia consultants,  we guide NRIs through this journey by assisting in property documentation, transactions and settlement of legal disputes in the most cost effective and smooth way

OPPORTUNITIES IN INDIAN REAL ESTATE SECTOR FOR NRI’S
Indian real estate has become an attractive investment option for NRIs seeking long-term growth. Indian real estate also serves as an opportunity for an assortment of investment portfolios that includes assets outside their host country for NRIs. Moreover, owning a property in one’s homeland keeps the NRIs attached to their roots. Another key opportunity is having a passive and secondary source of income in the form of the rental income generated for the NRIs.

ROLE OF KNOWLEDGENTIA CONSULTANTS
Before entering into buying or selling transactions, in the Indian real estate market as NRI, one must conduct a proper due diligence to take into account all implications legal and financial that are associated with specific transactions. By authenticating title deeds, encumbrance certificates, and other crucial documents, Knowledgentia helps NRIs ensure hassle free and smooth sale and purchase process. Even for familiar investors, navigating through RERA compliances may be arduous. To ensure transparency, , accountability, and protection for our NRI clients, Knowledgentia consultants make sure the properties are RERA compliant. Like everyone NRIs also have their own needs, wants and preferences.  Experts at Knowledgentia consultants help in furnishing solutions that majorly are in congruence to the objectives and needs of each of its clients, providing them with personalized experience. As we know while making any transaction there are some taxes that consumers are liable to pay to the government , same is the case in purchase and sale of properties they include some taxes like capital gains and other statutory taxes. We at Knowledgentia consultants provide our clients a proper insight of tax implications so that they can make well informed and planned decisions. The main role of Knowledgentia consultants in this whole process is to assist their clients from the very beginning till the end of the real estate journey of their clients.

CONCLUSION
Investing in Indian real estate can be a rewarding endeavor for the NRI’S whether it be in financial terms or emotional. However the complex and difficult legal formalities may be confusing and can make room for mistakes. To avoid all the problems and confusions, Knowledgentia consultants are there to simplify all your complexities professionally and assist you throughout your journey. At Knowledgentia, we believe in providing solution tailored to our client’s specific needs. So what are you waiting for, talk to our experts now for details and visit us at knowledgentia.com.

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