Sell NRI Properties in Punjab

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Frequently Asked Questions

Frequently Asked Questions

  • What is the procedure to sell property in India?
    Here is the process for selling property in Punjab from UK, USA, & Canada:
    • We determine the market value of the property for you.
    • We maintain the largest estate directory.
    • Title Transfer for Inherited Property.
    • Get the required Documents in Order.
    • Complete the Transaction.
  • What are the common property disputes in India?

    The most common ones are disputes in Title of Immovable Property, Delay in Registering a Property, Forging or fabrication of Documents, Delay in Payments, Relating to Inherited Property, Misuse of Power of Attorney, Builders not Giving Possession in Time etc

    The local property dealers know that Indians living overseas are in employment and cannot stay in India due to their jobs, So they exploit NRIs by giving token money for the land deal, binding in an agreement and not completing the full transaction for years.

  • Can I sell a house in Punjab from Abroad?
    Yes. A Non-Resident Indian can sell their residential or commercial properties in India. If the seller is not present at the time of deal, he/she can designate a representative through a power of attorney who will complete the transaction on NRIs behalf.
  • Why Property/Land Prices are down in Punjab?

    The reason for slowdown in prices of land in Punjab is due to irrational increase in property prices in the past. Investors who invested in real estate few years ago are finding it difficult to get a buyer even after reducing the prices lower than the purchase value.

    The other reason is that Indians living abroad have emotions with their lands, but the younger generations of the families don’t have such attachment. So, they try to sell their ancestral lands in Punjab, which results in excess of land for sale available. On the contrary, there is not much buyers interested in investing in those lands.

  • Do I have to pay tax if I sell my house in India?
    Tax is not to be paid on the total selling price of the property. Tax is paid on the capital gain (Selling price – Cost price of the Property). However, a percentage of TDS will be deducted by the buyer before making the payment.
  • How can I sell my land fast in Punjab?

    Selling your property quickly is not an easy job. First, make sure you are sale ready i.e. all documents & deeds should be gathered. Secondly, taking a help from an experienced property dealer can be helpful in making the right valuations of the land and getting the potential buyers.

    We have an expertise team, which will help you to sell your property in no time. At Punjab NRI Property, we have buyers who are already looking to invest in estates, so selling a land for us is quite easy.

  • Can i sell property in India with power of attorney?

    Selling a property through Power of Attorney is possible if you are an NRI, and currently not present in India. Though the Power of Attorney should be attested & registered at a Notary in India. Once deal is finalized, the Sale Deed with duly stamps has to be registered as required by law in India.

  • Is sale of agricultural land taxable in India?

    Tax is applicable only on the capital gains from the sale of land. Agricultural land in Rural Area in India is not considered a capital asset. Therefore any gains from its sale are not taxable under the head Capital Gains.

  • Can agricultural land be sold in cash?

    Agriculture land can be sold and payments can be received in cash. To make this transaction transparent and legal, same amount you received must be mentioned in the sale deed and pay the stamp duty based on that amount. Showing the sale price lower than the actual and avoiding stamp duty is illegal.

  • Why We Choose Your Service?
    Our management process for selling property is simple and clean like UK, USA and Canada.We have qualified in house team as well as verified legal and accountancy professional to ensure that all formalities complied in legal manner.Our system is designed to be the best property seller in Punjab.
  • Why do Punjab property dealer have such bad name in market?
    They have no formal qualification for selling the property. The local people can’t be duped but NRI are prime suspect as they don’t know the loop of legal formalities in India.
  • How long does it take to sell the property?
    It will depend on size & location of property.We may ask you for a realistic price . If price is realistic,deal may take a time period of one week to 3 month.
  • I want to sell my property. What are the documents a buyer would need from me?
    A buyer could ask you for the original Sale Deed, Title Deed, relevant tax receipts and Encumbrance Certificate.
  • I jointly own the property with my relative but they can’t travel. How can I sell my property ?
    You need to get the power of attorney from other owners of property to sell the property.
  • What document you need to sell my property ?
    • You will need right on property.

    • ID in the form of passport of your country.

    • You may need to register with the Indian authority for the competence of the sale (NAM will take care of it).
  • What are the formal requirements one needs to comply with to enter into a POA?
    • A POA must be made on stamp paper in order to be valid.

    • Hiring of a lawyer is not required in order to execute a POA

    • It is also mandatory that the POA should be notarized by a Notary Public.

    • At least two witnesses should be present at the time of execution of POA.
  • Do NRIs need prior permission of any regulatory bodies to sell their real estate assets in Punjab?
    NO, NRIs can sell their real estate assets without having to apply for any permissions. However, in case of sale of agricultural property, NRIs may need to apply for permissions to repatriate sale proceeds.
  • Why do I need to register a property when I buy it?
    When you register the transaction for buying an immovable property, it becomes a public record. If you want to rent, lease, or license the property, then the registration is a necessary process.
  • Can foreign citizens of Indian origin acquire or dispose of residential property by way of gift?
    Yes. Reserve Bank has granted general permission to foreign citizens of Indian origin to acquire or dispose of properties up to two houses by way of gift from or to a relative who may be an Indian citizen or a person of Indian origin whether resident in India or not,provided gift tax has been paid.