NRI

If an NRI signs Loan Against Property agreements while being abroad, without the involvement of any notary, embassy or POA, are the agreements legally enforceable in India by any party?
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Rachanaa Group  

129 Answered

Answered on November 08, 2017
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    • No, these documents would not be enforceable in the courts of law in case of a dispute
    Are PIOs and foreigners allowed to purchase residential and commerical property in India?
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    Rachanaa Group  

    129 Answered

    Answered on November 08, 2017
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    • PIO's are allowed to purchase upto 2 flats, without any permission from RBI. Foreigners who are residents in India ( for more than 183 days) can purchase provided they take appropriate permissions from RBI for the same
    Do NRIs require permission from RBI to acquire property in India?
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    Can an NRI or a PIO repatriate the proceeds from the sale of an immovable property? If so, what are the terms for the same?
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    Rachanaa Group  

    129 Answered

    Answered on November 08, 2017
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    • 1.From the balances of NRO account – subject to declaration 2. Sale proceeds of assets 3. Assets acquired from legacy/ inheritance/ deed of settlement they can remit up to USD 1 Million in a financial year