Q612. Is OCI visa compulsory to buy real estate in India?

Question: My sister purchased a flat in India while she was residing in India at that time she was resident and citizen of India. In 1973 she immigrated to the US and is now a US citizen. She is trying to register her flat and I have been advised by the attorney that this flat cannot be registered as there is a new rule passed last year that says that a foreign national cannot have real estate transaction unless they have an OCI Visa. Can you please enlighten me on this. I am finding it very hard to believe that this requirement is compulsory. Thank you. Shireen Answer: There is no such rule! that I am aware of. Maybe you should ask the attorney who is giving you this information to provide you with the appropriate wording of the new rule and notification number quoting such a rule. In case your attorney cannot show you documentary proof of such a rule, perhaps you should look for a new attorney.
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Q612. Is OCI visa compulsory to

buy real estate in India?

Question: My sister purchased a flat in India while she was residing in India at that time she was resident and citizen of India. In 1973 she immigrated to the US and is now a US citizen. She is trying to register her flat and I have been advised by the attorney that this flat cannot be registered as there is a new rule passed last year that says that a foreign national cannot have real estate transaction unless they have an OCI Visa. Can you please enlighten me on this. I am finding it very hard to believe that this requirement is compulsory. Thank you. Shireen Answer: There is no such rule! that I am aware of. Maybe you should ask the attorney who is giving you this information to provide you with the appropriate wording of the new rule and notification number quoting such a rule. In case your attorney cannot show you documentary proof of such a rule, perhaps you should look for a new attorney.
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Disclaimer: Information provided is for general knowledge only and should not be deemed to be professional advice. For professional advice kindly consult a professional accountant, immigration advisor or the Indian consulate. Rules and regulations do change from time to time. Please note that in case of any variation between what has been stated on this website and the relevant Act, Rules, Regulations, Policy Statements etc. the latter shall prevail. © Copyright 2006 Nriinformation.com
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