Is there a maximum limit to the residential and commercial properties that I can purchase as an NRI? Is prior permission from the Reserve Bank of India necessary before each transaction?
—Mohit As an NRI, you can purchase residential and commercial properties without any prior permission from the RBI. Also, there is no upper limit on the number of properties or size/area of these properties that you may acquire/invest in. My uncle has entered into a gift deed for a property but is bedridden and unable to visit the registrar’s office for registration of the gift deed. How should we proceed?
—Mehak S As this is an exceptional situation, an application showing special cause may be filed at the office of the relevant sub-registrar/ registrar. The authorised revenue officer may, on special cause being shown, visit your uncle’s residence and accept the gift deed for registration. I live in a multi-storeyed building in Delhi. Though I am the sole owner of my floor, the floors above mine are owned by other persons. We wish to demolish the existing structure and construct a new building. Can I apply for sanction of building plans in my name only?
—JK Since the property is owned by more than one person, to apply for and obtain sanction of building plan for the whole building, the application for sanction of building plans is required to be signed by all owners of the said property.