LCI Learning
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

ST1978 (IT Professional)     19 April 2009

NRI - POA

I am an NRI, currently in UK. I can't travel frequently to India for investing in real estate. I want to setup a POA for a relative in India to invest on my behalf. I have following queries:

1) How can I get the POA done without traveling to India? Basically, what is the process involved? Format of POA, Registration (whether this should be done in UK or India), other steps involved?

2) I want to authorise the person with BUY only powers not SELLING powers, so can this be achieved? Basically, I want that person to buy property on my behalf and that person should NOT be able to sell my property.

3) This property is a farming land, which falls under Dadri Tehsil, UP, India. I would need lawer's contact to get the deal (POA & BUYing of property) done. Dadri Tehsil falls on Delhi and Bulandhsher highway.

Look forward for authentic reply.

Cheerio!



Learning

 8 Replies

ST1978 (IT Professional)     19 April 2009

It seems as per "Notification No.FEMA 21 /2000-RB dated 3rd May 2000" from RBI, a NRI cannot buy agricultural land in India.

Excerpt from it is as follows:

3.

Acquisition and Transfer of Property in India by an Indian Citizen resident outside India:-

       
 

A person resident outside India who is a citizen of India may -

       
 

a)

acquire any immovable property in India other than agricultural/plantation/farm house, and

       
 

b)

transfer any immovable property in India to a person resident in India.

       
 

c)

transfer any immovable property other than agricultural or plantation property or farm house to a person resident outside India who is a citizen of India or to a person of Indian origin resident outside India.

It says Indian Citizen resident outside India, how about a NRI who travels to India for few days to make a purchase of agricultual land. In such cae, whether a NRI who is in India will be called as Indian Citized Resident in India.

Looking forward for an expert opinion.

ST1978 (IT Professional)     19 April 2009

The question simply said, whether a NRI can travel to India personally and make a purchase of agricultual land?

I believe yes.

I think so since a person who holds NRI status outside India when travels to India even for a few days should, I believe though not sure, be considered an Indian Citized Resident in India and thus legally be able to purchase an agricultural property in India.

Could some expert comment on this, please?

A V Vishal (Advocate)     19 April 2009

ST1978,

An NRI cannot purchase any agricultural land in India since most of the state governments have laws to regulate sale of these lands only to agriculturists so the point that if you visit India then you can purchase agricultural land is not pssible though not impossible.

yogesh (adv.)     20 April 2009

the most important where u want to buy agricultural land in india. means in which state because constitution of india provide to make law of property to that state so each state has own law on agricultural lans.

2nd ly POA u can give by staying there only but it shold be with some provision of indian laws

yogesh (adv.)     20 April 2009

i think u are planning to buy in gujarat which has bright future.

as i have already so many queries from U.K. for land in gujarat.

you have to be cautious before investing dont buy without good solicitors title cetificate this is my advice to you.

SANJEEV SRIVASTAVA (LAWYER)     20 April 2009

Dear ST

Hi, you can purchase the land. And for thesse reasons I can help u for execution. I know the Dadri tehsil and it is fall in Uttar Pradesh not in Delhi. U can contact for further assistance.

allan (professional)     29 March 2010

According to FEMA, the moment you travel out of india for employment purpose, you are a NRI,

and CANNOT purchase any Agriculture Land anywhere in India.

Suryanarayana Tangirala (Advocate)     29 March 2010

Yes you can ST1978, U CAN EXECTUTE a POA there in UK and get it endorssed by Indian Embassy and send it to India and get it validated,u can as well give power of attorney only to buy on your name without selling power in so far buy agricultural land u already have lot of inputs and pointers :-)


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register