Power of Attorney lists out the powers that an individual would like to share with the POA holder. It is primarily used by NRIs to manage their property in India. One can share their rights with any of their family members or a friend by issuing a registered power of attorney is the legal and correct way of managing the property, bank loans, stocks, and other assets located in India. The builder or developer will also ask for a registered POA to give you possession of the flat and get it registered in your name.
If an individual is not physically present in India, then the following procedure is to be followed:-
- Create POA (Write down POA terms on an A4-size plain piece of paper. Since you are not in India, you don’t need the Indian stamp paper.)
- Attestation by the Indian Embassy (Get the POA attested by the Indian Embassy/Consulate in the country you are living in.)
- Mail to India & Register in SDM office (Send consulate / Indian embassy signed or attested POA to India by postal mail.)
The PoA holder in India needs to get this POA registered to actually make it a valid document and term it as Registered power of attorney. PoA holder needs to visit SDM (Sub-divisional magistrate) office in the resident district in India (the person who you name in POA). Processing time is 15 business days if you are okay to pay the extra charges demanded. Once this POA is stamped by SDM, it is considered a registered power of Attorney. No witness is required in the SDM office for registration. Registered POA is acceptable in any government office for the purpose of possession and registration or for conveyancing of the property.