Can NRI buy property in India through an appointed of POA?
28-May-2023 (In Property Law)
an nri wants to purchase my flat.he has given full amount.but as he cannot come for registration he asks me to execute a power opf attorney in his sisters faour.what document need i take from purchaser to this affect.so that he cannot claim later that poa was executed without his consent
A Non Resident can purchase a residential property in India through a Power of Attorney (POA). However the Power of Attorney must be signed in the presence of 2 witnesses and notarised by the Indian Consulate/Embassy.
The POA must be registered with the Sub Registrar/SDM Office and once registered it can be used for registration of the property in the buyers name.
Please do ensure that the POA executed is for a specific purpose such as purchase of the property.
Also do ensure that the remittance is through proper banking channels as per RBI guidelines.
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