Executive Summary: Property title due diligence is a systematic examination of a property's legal ownership history, identification of hidden encumbrances (mortgages, liens), verification of the ownership chain, and detection of pending litigation or government claims. Before purchasing any property in Tamil Nadu, a thorough title verification protects you from buying a property with…
Executive Summary: A Non-Resident Indian (NRI) may sell residential or commercial property in India freely. Agricultural land, plantation property and farm houses can be sold only to a resident Indian citizen. The sale is governed by the Transfer of Property Act, 1882, the Registration Act, 1908, the Income Tax Act and the Foreign…
Executive Summary: Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) can buy residential and commercial property in Chennai without RBI approval, subject to the Foreign Exchange Management Act, 1999 (FEMA). First, Foreign Exchange Management Act (FEMA) regulations strictly prohibit Non-Resident Indians (NRIs) from directly purchasing agricultural land, plantation property, or farmhouses in…
