Can I sell my house from abroad?
Auction: If you’re interested in selling your property at auction, but live abroad, it’s still possible. … You need to also choose an agent that has the logistical capability of handling a long distance property sale, so it goes without saying that you’ll need an agent able to do the viewings for you.
How can NRI sell their property in India?
An NRI can sell his/her residential or commercial property to either a person residing in India, another NRI or a person of Indian origin (PIO). One can also mortgage the property to an authorised real estate dealer or a financial institution dealing with home loans.
How do NRIs sell property?
Documents required by NRI for selling property in India:
- Passport- It serves as a proof of identity for the person involved in the transaction. …
- PAN Card- It is required if one plans to apply for a tax exemption certificate after the sale of the property.
Do you need OCI to sell property in India?
Mumbai: Non-resident Indians (NRIs) and overseas citizens of India (OCIs) don’t require prior approval for buying or selling immovable properties like houses in the country, Reserve Bank of India (RBI) clarified on Wednesday.
How can I avoid capital gains tax on foreign property?
As a U.S. citizen, you have to pay income taxes on your worldwide income. Generally the only way to avoid recognizing gain is to reinvest the proceeds from a sale in like-kind property.
Do I pay capital gains tax on property sold abroad?
If you are earning income or gains through renting out property to tourists or long term tenants abroad, you could be liable to pay capital gains tax on disposal of the property. You may also have to meet the foreign tax obligations when you sell or dispose of your property overseas.
Do I need RBI permission to sell property in India?
All persons, whether resident in India or outside India, who are citizens of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal or Bhutan, require prior permission of Reserve Bank for acquiring or transferring any immovable property in India.
Do I need to pay tax if I sell my property in India?
If you are planning to sell your property, you’ll have to pay capital gain tax on the profit earned after considering the inflation and indexed cost of acquisition. … If you’re selling a property in India, the profits you earn are called Capital Gains.
What documents do you need to sell a property in India?
If you are planning to sell a property , the documents are very important . A property with clear documentation and title commands a higher price in the market.
- These are the documents you need to have in order:
- Letter of allotment. …
- Sale deed. …
- Sanctioned plan. …
- Society documents. …
- Encumbrance certificate. …
- Sale agreement.
Can foreigners sell property in India?
Yes, Foreign Embassies / Diplomats / Consulate Generals can purchase and sell any immovable property other than agricultural land / plantation property / farm house in India with prior clearance from the Government of India, Ministry of External Affairs.
How can I sell my plot of land in India?
Five tips for selling land in India
- Understand the market trends. The foremost step is to conduct an in-depth analysis of the current market trends to determine the right price of the land. …
- Consider the location. The location of a property may also affect its value. …
- Find the right channel. …
- Maintain the land. …
- Be patient.
Can US citizen hold property in India?
The law gives general permission to citizens of US to buy immovable property in India. … It does not apply to buying or selling of agricultural land, plantation property or a farmhouse in India. Such properties could be bought or sold with a precise approval of the Reserve Bank of India (RBI).
Do NRI pay TDS on property?
Properties sold in India by NRIs are liable for taxation and TDS is required to be deducted under the Indian income tax laws. An NRI who wants to sell the property situated in India has to pay tax on capital gains.
Can OCI get Aadhar card?
Aadhaar Card enrollment is presently available to residents in India. OCI Cardholders who stay in India for a long time (over 182 days in twelve months immediately preceding the date of application for enrolment) and have an Indian address can also enroll for Aadhaar Card in India.
Can OCI sell property in India without Aadhar card?
Yes. An NRI can sell property in India without an Aadhar Card as it is not mandatory for NRIs to have an Aadhar Card. The buyer must check for an NRO Account in the name of the NRI though where the proceeds from the sale of property will be deposited.