Tranfer Real Property by NRI in India
Question asked by Mr Nuka V. Reddy from US:
Hello Vatsala,
I am a Non resident Indian presently holding Foreign (US) citizenship. I have inherited some Agricultural land in India. Now I want to gift that to my brothers and sisters. Local attorny at my brothers village told them that my presence is required for transfer of property by registartion in Sub-registrars office. My preference is to transfer the property from abroad with out me going over there. Is it possible to do that? If so what is the proceedure. Also do I need Reserve Bank clearance for that transfer?
I appreciate if you can give me a guidance on this matter.
Sincerely,
Thanks
Nuka V. Reddy
Vatsala Answers:
As a rule Non Resident Indians cannot purchase agricultural land, but there is no bar against inheriting the same. You should therefore give a power of attorney appointing some person in India to execute the gift deed on your behalf. This power of attorney should be notarized in the U.S.A. and then sent to India, where it should be property affixed with Indian stamp within 3 months of its arrival. However, a word of caution – some Indian states have laws that income level should be below a certain level to hold agricultural land. If your land is in any of those states, it will be more prudent for you to visit India and be personally present for registration by showing an Indian address. Thus you can avoid queries on your income, which could be more than those limits as you are an NRI. Vatsala
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