buying property

manjunath (Querist) 22 May 2011 This query is : Resolved
i am an american citizen of indian origin... i previously held an indian passport, later I moved to USA and subsequently acquired American citizenship.
Before i acquired Amercian citizenship i had given GPA to my mother to buy property in india. My question is Now that i have become a american citizen and willing to buy a house in india, do i need to do anything extra to buy the property.... like getting letter from the embassy or get permission from the govt. Does the old GPA still hold good??

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abhishek (Expert) 22 May 2011
the provisions of FEMA will applicable in this case as in further purchase of property the foreign currency is involved and there would be requirement to take the permissions according to the provisions of the Act

bhagwat patil (Expert) 23 May 2011
Same GPA is not useful as your status of nationality has been changed.

M/s. Y-not legal services (Expert) 23 May 2011
Whats the problem to the author? What have to do for solve it..

manjunath (Querist) 23 May 2011
thank you gentlemen... how do i solve my problem?? what can be done?? now the status of my nationaliy has changed....

Guest (Expert) 23 May 2011
If you don't like to get your mother in to trouble due to FEMA, which is very harsh in nature, you would have to give fresh Power of Attorney to your mother duly authorised by the Indian Ambassador in USA and complying with other legal formalities in consultation with the Indian Ambassy in USA.

malipeddi jaggarao (Expert) 24 May 2011
You are a person of Indian Origin. This status will not changed though you acquired US citizenship after execution of GPA. Hence the GPA stands good and you need not have to do anything.

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