How NRIs can transfer property???????

Q: When it comes to buying property and getting home loans in Pune, NRIs always have several queries. Here are a few common queries which NRIs would like to ask...

Lokesh Patwa,

8th January 2015

Real estate News in Pune

property transfer

know your customer

property transfer in pune

nri investment options in pune

kyc documents

Follow Discussion

Also see discussions for

Pune Real estate News Real estate News in Pune

Replies (6)

Documents required to get a home loan for NRIs :- 1) Copy of Work Permit/Labour contract/copy of identity card or any other proof of work/employment issued by the concerned government authority. 2) Brief business profile on the letter head of the firm by the applicant.

Ravindra Singh,

8th January 2015

Comment

What are the extra documents required to get a home loan for NRIs?

Dwarkesh,

8th January 2015

Comment

Financial institutions normally fund only Non Agricultural converted properties with a clear title, without any obstacle. Most of the areas in Lohegoan come under the airport authority restriction and in that situation your property is yet to be converted to be brought under the Residential Zone. It is safer to bring the property under Residential Zone first. Then, following legal and technical clearance, the case might be considered by the nationalized banks.

Ravindra Singh,

8th January 2015

Comment

Secondly, if you have flat in Lohegoan, Pune which is yet to be under the R6-zone under the PMC jurisdiction. And if you plan to sell the flat but the prospective buyers need loan from nationalised banks. As per my discussion with the builder, he will process the corporation tax in a week's time. What options do they have for the prospective buyers to avail loan from these banks?

Dwarkesh,

8th January 2015

Comment

Well Dwarkesh,
Some financial institutions may stop inter-family transactions. However, on grounds of genuinity, such scheme might be considered, based on the credit strength of the home buyer. You could submit the Loan Application, income and KYC documents of the buyer along with a statement mentioning the objective of the transfer of property to your brothers name. The loan transfer shall then be considered by the financial institution, based on the merit of the case.

Ravindra Singh,

8th January 2015

Comment