NRI Property Management Services

NRI Property management services

NRI Property Management services without visiting India, is it possible?

Overview of NRI Property Management Services

The matter of NRI property management services is quite complicated and people are usually not aware of the legalities involved with it. However, our NRI property management services includes: lawfull partition of property, tenant eviction from NRI property, succession certificate, lost property papers, property registration, property dispute between brothers and siblings, inheriting property with or without will, gift deed for property, special power of attorney to sell property and any other NRI property management services you may need.

At Law Advisor India, we’ve figured out the least tiresome and most cost effective procedure of NRI property management services. Click the button below for free legal advice from expert NRI lawyers.

Procedure of NRI property management services

• Step 1: NRI LEGAL CONSULTATION

Our first step when we provide NRI property management services is to understand your exact query and to draft along with you a one page note which summarizes your case. 

•Step 2: FINALIZING THE BEST LAWYER WHICH SUITS YOU THE MOST

Following up with the initial consultation and upon understanding your exact query, we will finalize the best NRI property lawyer for NRI property management service.  Our very resourceful NRI property lawyers as well as your personalized case manager would be available on call 24*7 at timings which suit you the most. The aim is to simplify the process of Property management for NRIs like yourself and to provide you with an expedited justice.

•Step 3: SUBMISSION OF DOCUMENTS

For NRI property management services, documents including address proof, identity proof, proof of ownership of property, succession certificate, copy of will shall be needed to submitted to the NRI property lawyer appointed to you.

•Step 4: RAISING THE MATTER IN THE CONCERNED CIVIL COURT

Our lawyer will generate your file and represent the court with you or along with the person you’ve assigned the special power of attorney to. A holistic NRI property management service like ours ensures our NRI customers are handheld at every step and there is no discomfort they face. In case of fraud/cheat or forgery, the matter is represented to the police instead of the civil court.

Documents Required for NRI property management services

Why Law Advisor India?

Law Advisor India along with the panel of effective and resourceful NRI lawyers provides fastest NRI legal services. If you’re an NRI and are stuck with any legal work in India. We ensure we’ll get it done for you in record time.

Pricing

Cost of NRI property management services starts from 35$; and varies according to the complexity of your case. This 35$ includes the primary NRI Property lawyer consultation fees along with the documentation cost. 

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FAQs about NRI property management services

The Foreign Exchange Management Act of India governs the tax liabilities of any transaction between an NRI selling properties in India. According to this act, the chief factors that contribute to the sum payable as tax are:

  1. The capital gains decided by the date of sale of property
  2. The value of the agreement based on the profit achieved
  3. Expenses liable to the society
  4. Additional pending loans

Under the provision of Section 195 of the Income Tax Act, an NRI selling property in India can retrieve a tax exemption certificate from the income tax department of the country. However, the application needs to be under the same jurisdiction as the applicant’s PAN card with proof of capital gains reinvestment.

Furthermore, under section 54 of the Income Tax Act, if an NRI has sold a property by three years of tenure and immediately procured another property within two years of the trade, then the profit spawned by the sale is absent of any tax liabilities. But this rule is valid only to properties purchased in the Indian subcontinent by an NRI.

Moreover, if an NRI sells a property after three years of possession and spends the capital gains in bonds, then he is not predisposed to pay capital gains as per Section 54E of the Income Tax Act. However, the bonds will be closed for a period of three years only if there is a residential property in India.

Additionally, the Capital Gains Account Scheme, 1988 allows a deposit of gains in a public-sector bank or other banks to claim it for an exemption without being liable to pay any tax on it.

Property owners often struggle with the decision whether to manage their rental property by themselves or to seek out professional property management companies. The decision, of course, weighs in on multiple factors as the amount of time the landlord has at his/her disposal, rental demand where the property is located, costs involved in hiring a company, etc.

Services offered by lawyers specializing in this field of property related disputes involve-

  1. Legal advice or online legal advice by specialists in the field of property laws
  2. Title Documentation in property law for all kinds of title documents or deeds
  3. Handling of civil and criminal suits related to property laws
  4. Drafting, filing and defending the case for partition, specific performance and related concerns or for recovery of possession
  5. Online Legal guidance related to FDI in real estate
  6. Legal services in relation with project consultancy for real estate projects, housing projects, townships, housing societies

Since the India and USA are under a Double Taxation Avoidance Agreement, the amount can be deducted which is paid for gains tax in India to the capital gains tax which is indebted to the US government.

The Foreign Exchange Management Act of India governs the tax liabilities of any transaction between an NRI selling properties in India. According to this act, the chief factors that contribute to the sum payable as tax are:

  1. The capital gains decided by the date of sale of property
  2. The value of the agreement based on the profit achieved
  3. Expenses liable to the society
  4. Additional pending loans

Under the provision of Section 195 of the Income Tax Act, an NRI selling property in India can retrieve a tax exemption certificate from the income tax department of the country. However, the application needs to be under the same jurisdiction as the applicant’s PAN card with proof of capital gains reinvestment.

Furthermore, under section 54 of the Income Tax Act, if an NRI has sold a property by three years of tenure and immediately procured another property within two years of the trade, then the profit spawned by the sale is absent of any tax liabilities. But this rule is valid only to properties purchased in the Indian subcontinent by an NRI.

Moreover, if an NRI sells a property after three years of possession and spends the capital gains in bonds, then he is not predisposed to pay capital gains as per Section 54E of the Income Tax Act. However, the bonds will be closed for a period of three years only if there is a residential property in India.

Additionally, the Capital Gains Account Scheme, 1988 allows a deposit of gains in a public-sector bank or other banks to claim it for an exemption without being liable to pay any tax on it.

 

An NRI can purchase or sell property in India without being physically present in the country. There are several ways in which you can achieve this heavy duty task and that too with the help of the Indian Government. RBI (Reserve bank of India) has explicitly mentioned instructions so that anyone who is living abroad can buy property without any difficulties.

Note: It should also be clear that the immovable property bought by NRI should only be used for residential purposes or to complete any other requirement except agricultural land, farm house and/or plantation property. But even if an NRI want to buy any of the properties that comes under exception then, they have to obtain special permission from RBI which is not always guaranteed.

1. Under the RBI’s general authorization, an NRI can purchase a property, either individually or mutually with another NRI. The most competent way to buy property is adopting a Power of Attorney (POA)

2. Appoint a power of attorney who will be your personal legal counselor. He will suggest you all the matters related to real estate and all the other formalities because he is already an expertise in the field. This way there will be a direct contact between you and your required conditions through the way of an attorney. This method is officially used by many people because it is cost efficient and effective. The POA will do all the legal paperwork and close all the formalities.

3. As he is already familiar with the India Laws and real estate market, he might be able to help you with the best deals as well. It is further suggested to appoint that particular General Power of Attorney (GPA) or Special Power of Attorney (SPA) whom you think is reliable because it will be easy to communicate.

4. To get a suitable POA you have to visit the Indian Embassy of the city and country where you are situated and sign the document in front of the consulate officer. The documents also involve a photograph, your left thumb impression and your signature for it to be considered as valid.

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