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Want my OCI wife to be the co-owner of property in India, what to do


02-Mar-2023 (In Property Law)
I took a loan for a flat in Mumbai, loan has been approved (i took the loan on my name)And I want to include my wife as co-owner of the property. The bank agent and property agent insist that it is not possible to include my wife as co-owner because she is not Indian passport holder eventhough she has a valid OCI card..i havent started the documentation because i want my wife's name in the property as co-owner..please advice
Answers (1)

Answer #1
792 votes
Any person of full age and capacity:
(i) Who is a citizen of another country, but was a citizen of India at the time of, or at any
time after, the commencement of the constitution, or
(ii) Who is a citizen of another country, but was eligible to become a citizen of India at the
time of the commencement of the constitution, or
(iii) Who is a citizen of another country, but belongs to a territory that became part of India
after the 15th Day of August, 1947.
(iv) Who is a child of such a citizen, or
(b) A person, who is minor child of a person mentioned in
clause (a)
Provided that no person, who is or had been a citizen of
Pakistan, Bangladesh shall be eligible for registration as an
Overseas Citizen of India.

Under the general permission granted by RBI, the following categories can freely purchase
immovable property in India:
(a) Non-Resident Indian (NRI)- that is a citizen of India residing outside India
(b) Person of Indian Origin (PIO)- that is an individual (not being a citizen of
Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or
Nepal or Bhutan), who
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(i) at any time, held Indian passport or
(ii) who or either of whose father or whose grandfather was a citizen of India by virtue of
the Constitution of India or the Citizenship Act, 1955 (57 of 1955).
The general permission, however, covers only purchase of residential and commercial property
and not for purchase of agricultural land/plantation property/farm house in India. OCI can
purchase immovable property in India except agricultural land/plantation property/farmhouse

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