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New US Citizen, buying property in India - Urgent

Discussion in 'Life After Citizenship' started by usnj01, Feb 24, 2011.

  1. usnj01

    usnj01 Registered Users (C)

    Greetings,

    I'm a new naturalized US Citizen (as of Feb 07, to be precised) and I'm buying a property in India for which I need some help. My questions as as below:

    1) I've applied for my US Passport but not yet for my OCI, can I still buy property in India (since I dont have OCI yet)?

    2) I'm giving a GPOA (general power of attorney) to my brother to purchase the property in my name. Do I must go to Indian Consulate to get it notarized or can I get it notarized from any Notary Public in the US? Technically being a US citizen I should be going to a US Notary Public. Has anyone done this before, does the consulate do any sort of "franking" on it which shows they've collected a stamp duty?

    3) The property is in Chennai so can someone confirm if GPOA can be done on a simple paper and get it notarized or do I must get it on a stamp paper (which I believe is obsolete after all the scams) or on a franked paper which shows that a stamp duty has been paid. My bother thinks that it cannot be done on a plain paper but builder's office seems to think that a stamp paper/franking is not required.

    Can someone pls confirm all this, perhaps someone from the state of TN?

    Thanks in advance.

    PS: this is not a agriculture land, doing a booking for a residential flat.
  2. nkm-oct23

    nkm-oct23 Registered Users (C)

    Since you once held Indian citizenship, you are considered a Person of Indian Origin and can therefore buy non-agricultural property in India. OCI/PIO cards are NOT a requirement for a Person of Indian Origin classification.
  3. ginnu

    ginnu Registered Users (C)

    POA is only needed for registration of the flat on your name. I don't think that for booking of flat you need to give POA. When you book a flat you must pay from NRE account and the agreement has to be signed by builder. agreement with builder should be prepared by your lawyer or read by your lawyer because builders have only clause that are in builder interest.

    NRI/OCI buying Property in India
    Please check the following links for more detailed discussion...
    http://www.r2iclubforums.com/forums/...d-revenue-land
    http://www.immihelp.com/forum/showthread.php?t=25255
    http://www.r2iclubforums.com/forums/...an-Real-Estate
    http://www.r2iclubforums.com/forums/...-land-in-India
    Last edited by a moderator: Feb 25, 2011
  4. usnj01

    usnj01 Registered Users (C)

  5. ginnu

    ginnu Registered Users (C)

  6. SinghSahab

    SinghSahab New Member

    You can buy property in India as you are already a Indian citizen, you need to do some paper work as you specify above it will already given to your brother. And now is best time to buy property in India as real estate market is down and you can buy it on better prices.
  7. StillPatient

    StillPatient Registered Users (C)

    After selling a property in India, can I deposit the money in the NRE account?

    Can I withdraw money from an NRE account in USD in the US?
    If Yes, then is there is any limit? Say uptill 10K USD without notifying RBI/IT in India & IRS in US,
    Upto 20K USD after informing RBI/IT in India & IRS in US?
    Upto 75K USD after paying required taxes in India & the US?

    Can any relative deposit INR in my NRE account which I can withdraw in USD in the US?

    -Still
  8. ginnu

    ginnu Registered Users (C)

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