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…
Executive Summary: When a property owner dies, the property passes to the legal heirs under the applicable succession law (Hindu Succession Act, the Indian Succession Act for Christians and others, personal law for Muslims, or the will, where one exists). Before an heir can sell, heirship must be documented: usually a legal heir…
Executive Summary: A sale deed is the legal document that transfers ownership of immovable property from seller to buyer. The buyer and seller must register the deed with the Sub-Registrar to complete the property transfer. Section 54 of the Transfer of Property Act requires a registered instrument for any sale of immovable property…
