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Selling Indian property without OCI

R

reva79

Newbie
Sep 12, 2022
2
0
Hello, need your opinion on my situation,
My husband and I are joint owners of a residential flat in Bangalore and would like to sell it. We have found a buyer and have booked our tickets to fly to India for a personal situation in October. However, we just received our Canadian passports and do not think we will receive our OCI before October to sell the flat as we have to yet to apply for surrender certificate.
1. Can we sell our flat without OCI and just by having e-visa? We both have our PAN cards and I have my Aadhar card. Would that be a problem when we repatriate the funds to our Canadian account?
2. Should we give the POA to our blood relatives? I give the POA to my father and my husband gives it to his father and then they can sell the flat on our behalf by signing the registration?

Is there any other option? Please advise, thank you so much.
 
akbardxb

akbardxb

Champion Member
Nov 18, 2013
1,244
464
Mississauga
LANDED..........
28-03-2014
reva79 said:
Hello, need your opinion on my situation,
My husband and I are joint owners of a residential flat in Bangalore and would like to sell it. We have found a buyer and have booked our tickets to fly to India for a personal situation in October. However, we just received our Canadian passports and do not think we will receive our OCI before October to sell the flat as we have to yet to apply for surrender certificate.
1. Can we sell our flat without OCI and just by having e-visa? We both have our PAN cards and I have my Aadhar card. Would that be a problem when we repatriate the funds to our Canadian account?
2. Should we give the POA to our blood relatives? I give the POA to my father and my husband gives it to his father and then they can sell the flat on our behalf by signing the registration?

Is there any other option? Please advise, thank you so much.
Click to expand...
POA is the simplest option. You can't have two separate POAs. It can only be one person.

I don't recall if they check your citizenship during the property transfer process. Probably only your Aadhar and PAN so even selling in your name should not be a problem. Your Indian Passport will still not show 'cancelled' so even if asked, you would still be able to show a valid document even though technically you should not use it for travel.

Selling will not be a problem, I am guessing, but getting funds out of India will be a bit of a challenge. Taxes, clearances from RBI to name a couple. When I sold my property, even though I wasn't a Canadian at the time, the paperwork took months for finish. You'll need a sharp accountant. Good luck.
 
M

mtlcanada

Star Member
May 17, 2019
108
6
Can we still not own a property in India while being canadian citizen?. I thought we can.
And what is OCI and POA please?
 
R

reva79

Newbie
Sep 12, 2022
2
0
Thank you for your responses. We can still own properties but selling could be an issue if we do not have an OCI.
 
A

atzquebec

Hero Member
Aug 6, 2015
429
94
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How long does it take to get an OCI these days ?
 
C

CANADA-1

Hero Member
Jan 17, 2017
309
68
reva79 said:
Hello, need your opinion on my situation,
My husband and I are joint owners of a residential flat in Bangalore and would like to sell it. We have found a buyer and have booked our tickets to fly to India for a personal situation in October. However, we just received our Canadian passports and do not think we will receive our OCI before October to sell the flat as we have to yet to apply for surrender certificate.
1. Can we sell our flat without OCI and just by having e-visa? We both have our PAN cards and I have my Aadhar card. Would that be a problem when we repatriate the funds to our Canadian account?
2. Should we give the POA to our blood relatives? I give the POA to my father and my husband gives it to his father and then they can sell the flat on our behalf by signing the registration?

Is there any other option? Please advise, thank you so much.
Click to expand...
hi
please let me know your selling process done easily or any problem i am have plot in india want sale but i am never visited india last 15 years we don't have aadhar card and and pan card ,bank account (freeze due to kyc) if possible can guide me process to sale property in india thank you
 
A

abbas.pasha

VIP Member
Sep 17, 2016
3,605
2,023
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