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Joshy Paul (Engineer)     01 March 2013

Selling an apartment in bangalore

Hi all,

I own an apartment in HSR layout Bangalore that I am planning to sell. However, I am currently in US with my family. I and my wife are the joint owners of the paratment.  Can someone help me understand what the procedure to sell the partament while we are in US.

1) Is it possible to sell the apartment by issuing a specific POA to my brother-in-law ?

2) I can get a POA attested from the Newyork Indian EMbassy. Is it mandatory that such POA must be registared again in India to be valid to do the sale deed by the POA holder?

3) What will be the stamp duty in case it has to registered in India, if the POA is given to my brother-in-law

4) Can someone from this forum assist me in the process?

Thanks,

Joshy



Learning

 3 Replies

Pradeep Bharathipura (Advocate)     01 March 2013

Yes you can sell the property through powe of attorney but thing is that you have to pay the registration fee as computed as sale......... when there is a "sale" claue in power of attorney  you have to pay registration charge as per market value.

 

Regards

adv. rajeev ( rajoo ) (practicing advocate)     01 March 2013

POA registration is mandatory.  In my opinion POA executed attested by an embassy is valid, but I mam not sure. 

Pradeep Bharathipura (Advocate)     01 March 2013

Ofcourse, GPA is valid but when there is a sale clause you have to pay the Registration fee as per market value........ that is the difficulty here ................. it is burden on you.


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