HT Estates - - Front Page - Su­nil Tyagi

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.

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