Developments NRI Buyers Must Know

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Developments NRI Buyers Must Know
Mar 2018
DEVELOPMENTS NRI BUYERS MUST KNOW
In Green Homes
Through various policy changes in recent past,
the Indian government has been making sure that
non-resident Indians are duly rewarded for the
contribution in shaping the economy of the
country. Various other initiatives are in works
that would actually impact the non-resident
Indians and how these do business in India
including the property transactions.
There is what is going to impact the NRIs and are
planning to invest money in India.
You will be able to externally vote
soon Non-resident Indians have been seeking the
right for a longer time now. One of the petitions
lying with the Supreme Court is that 70 of
people in Kerala are NRIs and deserve the right
to vote considering the contribution to the
country. It is certainly worth mentioning that
out of 114 countries that have actually adopted
the external voting system providing
non-residents the right to take part in the
national polls and 20 are Asian nations. Soon
enough, non-resident Indians will be able to
enjoy the right. This will certainly be achieved
by amending the Representation of People Act to
allow the non-resident Indians to vote through
the portals or the e-ballots. In upcoming winter
sessions, for example, the government will table
a bill to provide non-resident Indians the right
to vote. Along with the right through e-ballots
would come the power to bring changes that would
suit the need of the non-resident Indians.
You don't have to link the bank account with
Aadhaar
It is important for Indian citizens to link all
the bank accounts with their Aadhaar. This rule,
however, not apply to PIOs and NRIs. The unique
verification authority in India has made it
pretty clear that PIOs and NRIs are not required
to link the bank accounts as well as other
services with Aadhaar. However, it works is the
mechanism to verify the status of such
people. UIDAI has made it pretty clear that
Aadhaar can only be sought from eligible for it
under Aadhaar Act. The laws regarding submitting
or linking of Aadhar for availing of services or
the advantages apply to dwellers as per Aadhar
Act 2016. Most of the PIOs/OCIs/NRIs may not be
eligible for the Aadhar enrolment as per the
Aadhar Act Punjab is bringing non-resident
India's property safeguard Act for you There may
be law in place in the state of Punjab to protect
against the property-related frauds. As per
reports, the state government is planning to
bring the non-resident Indian Property Safeguards
Act within 3 months to solve the problems of
those who are living overseas in a quick,
effective, and transparent manner. The draft of
law would provide time-bound solutions to the
non-resident Indians on the property disputes is
ready and on way to get the approvals. An
overseer for resolving the issues including the
domestic problems would set up under the
law. District authorities will be given 3 months
for addressing property- issues of non-resident
Indians. If they do not resolve it within the
stipulated time, the state-level appellate body
will hear the appeal as well as resolve the
matter in 3 months. If dispute persists, matter
can actually be taken to higher court.
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