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Showing posts with the label Power of attorney non-blood relative

If an NRI from Australia wants to sell his property in India, are there any rules stating that the general power of attorney is possible to only blood relatives?

  No General power of attorney (GPA) is possible to anyone but there are few consequences for issuing GPA to non-blood relative NRI Buying: As an NRI, when you buy a property in India, you can give GPA to anyone that includes blood and non-blood relatives. Blood relatives:  Father, Mother, brother, sister, husband, wife, children, Non-blood relative:  cousin, friend, colleague, advocate, or broker The stamp duty for GPA adjudication in India is just Rs. 200/-(for buying property) NRI Selling: As an NRI, when you sell a property in india, you can give GPA to anyone that includes blood and non-blood relative The stamp duty for  blood relatives  is Rs. 200 The stamp duty for  non-blood  relatives is 5% of property value, which is very huge expense. For example: Every property in India has government value irrespective of property type (flat, land, independent house, factory, shop, etc..) Let's consider that you want to sell 3BHK flat in Bangalore India, the government value of the pro