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NRI

What is the jurisdiction of any dispute related to property investment in India?

By | NRI | No Comments

It is not advisable for NRIs to file property dispute cases anywhere else other than the jurisdiction where the property is located. Only the court in that jurisdiction can try a property-related case.

Delays in the construction process beyond the extension period mentioned in the agreement fall under the purview of consumer courts under ‘deficiency in rendering of service’ in the Consumer Protection Act of 1986 if the project is not registered under state RERA.

If the project is registered under RERA, buyers can file a complaint under Section 31 of the regulation with the appointed regulatory authority within the respective state.

Interestingly, there may soon be a law in place in the state of Punjab to protect NRIs against property-related frauds. The State government is planning to bring the NRI Property Safeguards Act to resolve issues of NRI buyers effectively and transparently.

An ombudsman for resolving issues would also be set up under the law. If this happens, it would indeed be a worthy precedent for other states to follow.

Can an NRI use a Will to bequeath property in India to someone else — either another NRI or a resident Indian?

By | NRI | No Comments

NRIs can of course assign assets to their legal heir / s or any other option of their choice. An NRI is any immovable property in India, be it residential or commercial – and even agricultural land or farm house (which they are otherwise not entitled to purchase).

An NRI is also free to obtain assets from another NRI or resident in India. However, the Reserve Bank’s permission is required if the property is acquired by a citizen of a foreign state and resident outside India.

 

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