6 Real Estate Investment Tips For NRIs To Avoid Property Disputes

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6 Real Estate Investment Tips For NRIs To Avoid
Property Disputes
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NRIs And Property Disputes
Global Indians like to make investments in the
country of their origin for various reasons.
Generating good financial returns is an obvious
reason and so is maintaining emotional links with
their ancestral land. However, such investments
can turn out to be major headaches if they do not
take care to avoid problems that are commonly
known as NRI property disputes. Here are some
tips to steer clear of such issues and conduct
safe investments.
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Verify Property Documents

• Verify the ownership documents of the property
  you are buying.
• Make sure it adheres to all applicable building
  regulations.
• Hire a property dispute lawyer to make the
  verifications.

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Understand Tax Liabilities
Short-term capital assets held for less than
24 months are taxed at normal rates.
Long-term capital assets are taxed at a rate of
20 apart from additional surcharges. Capital
gains are taxed in the year during which the
property transaction took place.
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Use Power Of Attorney Judiciously

• Use a Power of Attorney to conduct property
  transactions from outside the country.
• Choose a dependable person for executing a power
  of attorney.
• Engage India-based NRI legal services to draft
  accurate documents.

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Set Realistic Goals

• Identify the scope of financial risk that you are
  prepared to take.
• Set a limit up to which you can go while buying
  an asset.
• Ask for a realistic price when selling a property.

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Select A Suitable Location

• Choose a location with good connectivity when
  planning to buy an asset.
• Make sure the necessary infrastructure like
  power, water, etc. is in place.
• Select an area that is expected to develop
  rapidly in the near future.

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Learn About Legal Regulations

• Know about all the local zoning and real estate
  development laws.
• Consult with real estate lawyers to understand
  the foreign exchange guidelines.
• Make sure to know about all the applicable tax
  laws.

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