New LIVE Course: Learn the Practical Nuances of IPR Drafting by Adv. Gautam Matani. Register Now!
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Wuok Toud   13 July 2023

Gpa registration for property

I am planning to buy a property which is registered in 2 people names brother and sister. Sister is married and is residing in europe from 3 years basically NRI. The brother is indian resident. The sister has given GPA to brother to sell the property from Indian embassy europe and is registered. I hve applied for loan and as per my safety i asked the banker to disburse the loan to the NRI account or get a NRO account and disburse her share to that account as it is taxed 20%. But the bank team is saying that they will take a mail confirmation from the NRI lady that she has no objection to disburse the loan to her personal Indian Bank account which is normal saving account. Should I go with this approach as this is GPA registration and also the tax reduces to normal 1%.


 2 Replies

Real Soul.... (LEGAL)     13 July 2023

Yes if bother the parties agree for that mode of payment then that is fine, you should take receipt of payment from both brother and sister and get the sale deed registered.

P. Venu (Advocate)     13 July 2023

The posting suggests no legal elements.

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register