#BEST NRI LEGAL SERVICES IN GURUGRAM

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Guide to Real Estate Woos of NRI’s: Best Real Estate Attorney Advice in India

Investment in real estate is one of the most popular and lucrative investment option for the investors mainly because of its ability to generate regular cash flows through rent and many other benefits that come along like tax benefits, consistent RoI (Return on Investment) and a secure investment option. These are the reasons as to why a lot of NRIs are purchasing properties in India and are putting these properties on rent so as to generate passive income. The important points that an NRI has to keep in mind while renting out his or her property are as follows:

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Guide to Real Estate Woos of NRI’s: Best Real Estate Attorney Advice in India

In summary, the whole property management scenario for the NRIs can be complicated and challenging however it can be resolved effectively if the NRIs are cautious and take appropriate measures to safeguard their property in India. They should hire a competent lawyer, verify property documents, register the property, be aware of the laws, stay updated, and use technology to avoid disputes and resolve any disputes that may arise.

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In case of Foreign Direct Investment in India, there will be a number of contracts and covenants which will be entered into between the parties who entered into the contract. Some of the common contracts which are dealt with between the parties are service agreements, Non-Disclosure Agreements (NDA), third party agreement, shareholder’s agreement, franchise agreement etc

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The retail sector in India sells goods to the customers which satisfy their wants or needs. These goods are called consumer goods or final goods. The Fast Moving Consumer Goods (FMCGs) also falls under the category of consumer goods where such goods are sold at a quicker rate and have relatively low cost. Foreign entities can sell their goods or products in India through their own retail shops.

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Guide to Real Estate Woos of NRI’s: Best Real Estate Attorney Advice in India

Investment Restrictions: NRIs may encounter various restrictions and regulations, as was previously said, and the procedure for doing so may be a bit challenging with regard to investing in the Indian market. An NRI located in the United States of America, for example, must be informed about the mutual fund companies that are active in India and must be permitted to invest in the aforementioned fund companies. This is necessary because mutual fund companies must complete a significant amount of paperwork and comply with numerous regulations before they can accept investments from NRIs living in Canada and the United States of America. This is done after they apply for the “Foreign Account Tax Compliance Act (FACTA)” related to the investment. Due to this rule, a small number of mutual fund companies operating in India allow investments from NRIs who reside in the United States. Additionally, NRIs who are citizens of another nation must confirm where they now reside by presenting the necessary documentation.

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Guide to Real Estate Woos of NRI’s: Best Real Estate Attorney Advice in India

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Guide to Real Estate Woos of NRI’s: Best Real Estate Attorney Advice in India

Property disputes or real estate disputes are most common in India. Having said that, this problem of legal tussle for properties is also most common for an NRI. Needless to state, an NRI finds it more difficult to contest a law suit or a legal case for their properties in India as the biggest reason is the time difference and the distance between the actual property in India and the actual location of the NRI which is in some other country outside India. Thus, overcoming these two hinderance becomes very difficult for an NRI and at the end of the day the NRI succumbs. Over here we have tried to discuss in brief the preventive measures which NRI’s can adopt in order to avoid legal disputes on their real estates in India or properties in India.

https://mylawyersadvice.com/guide-to-real-estate-woos-of-nris-best-real-estate-attorney-advice-in-india-2/

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Guide to Real Estate Woos of NRI’s: Best Real Estate Attorney Advice in India

The ideal course of action in an NRI Indian disagreement would be to settle peacefully so that everyone is content, however this course of action only applies in familial circumstances. There may be no other option outside pursuing your legal rights under the law through civil litigation where an NRI’s legal rights have been violated or infringed upon. NRIs who have been denied their rights can seek redress in Indian courts with considerable assistance from the UK. How long does it take to settle a dispute over Indian property owned by NRIs? On a case-by-case basis, the circumstances will determine how long it usually takes to obtain a conclusion. factors including the case’s type and complexity, the number of parties involved, the scope of the necessary legal action, etc.

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Guide to Real Estate Woos of NRI’s: Best Real Estate Attorney Advice in India

The whole legal process can be really cumbersome for the NRIs to handle as it involves various aspects so its advisable and is important to hire a Property Management Lawyer as when it comes to helping NRIs with issues over land and property, a property management lawyer is both important and dominant. The primary responsibilities of property management lawyer’s is to handle the issues until they are settled in the NRI client’s favour, keep track of the necessary legal procedures, and maintain the legal records of the NRI client’s land. In addition, a property management lawyer can handle all land and property disputes for an NRI client in plethora of ways. So basically NRIs can resort to various safeguards in order to prevent any dispute related to their property which are listed above and even if they fail then also there is legal course of action which they can adopt which is basically Civil litigation and when pursuing civil litigation it is advisable to get assistance from a Property Management Lawyer who can provide aid to them in handling of their case and making sure that all the prerequisites are there which are necessary for the filing of the suit so that the dispute can be resolved as soon as possible.

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Guide to Real Estate Woos of NRI’s: Best Real Estate Attorney Advice in India

The Supreme Court made the following observations in paragraph 18 of its ruling in the Baldev Singh Bajwa case: “A tenant’s right to defend the claim of the landlord under Section 13-B for ejectment would arise if the tenant could be able to show that the landlord in the proceedings is not NRI landlord; that he is not the owner thereof or that his ownership is not for the required period of five years before the institution of proceedings and that the landlord’s requirement is not bona fide.” In the case of Ravinder Singh v. Shander Singh, the respondent Shander Singh filed a petition under Section 13-B of the East Punjab Urban Rent Restriction Act, asking for the eviction of the revision petitioner on the grounds of personal bona fide necessity to establish his business in he entire building, of which the demised shop is a part. He wanted to go back and stay permanently in India, according to the respondent-landlord. He needed the demolished business for his own use while he was now living in the United Kingdom. He had filed similar eviction applications against other tenants and wanted to launch a company for which he needed the entire building on plots no. 3 and 4, which includes the demised store.

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Guide to Real Estate Woos of NRI’s: Best Real Estate Attorney Advice in India

Many NRIs reside outside of India have bought houses there but neglect to maintain them. As a result, after getting citizenship in their nation of residence, many even go as far as to sell their inherited or self-acquired property. Holding onto your properties, even when you can’t handle it, has become more common. Non-Resident Indians (NRIs) have been encouraged by the current real estate bubble in India to sell their homes there in order to benefit from the rise in land prices.

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Guide to Real Estate Woos of NRI’s: Best Real Estate Attorney Advice in India

Illegal occupancy can occur in two different ways. Initially, squatters may generate fake paperwork and scare you by asserting that you lack legal title to the property. The majority of the time, they are thugs or persons with connections who use these types of techniques to coerce someone into paying a fee in order to redeem their property and enjoy quiet possession or coerce them into making a sale at a distressed price. This has also occasionally occurred with the local tax officials’ complicity. The second occurs when a renter unlawfully occupies your property for an extended period of time despite insufficient checks and balances and poorly written leases.

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Guide to Real Estate Woos of NRI’s: Best Real Estate Attorney Advice in India

In order to protect their ownership and interest in their estate and property in India, Non-Resident Indians (NRIs) must take the utmost care. NRIs are citizens of India who live outside the country for either professional or personal reasons yet have an Indian passport. Although residing overseas, owning property in India might provide certain difficulties, such as maintenance problems, tenancy concerns, and legal issues. To protect their ownership and interest in their property in India, NRIs can, nevertheless, take a number of measures. The steps NRIs can take to safeguard their property rights in India will be discussed in this response.

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Guide to Real Estate Woos of NRI’s: Best Real Estate Attorney Advice in India

Investment Restrictions: NRIs may encounter various restrictions and regulations, as was previously said, and the procedure for doing so may be a bit challenging with regard to investing in the Indian market. An NRI located in the United States of America, for example, must be informed about the mutual fund companies that are active in India and must be permitted to invest in the aforementioned fund companies. This is necessary because mutual fund companies must complete a significant amount of paperwork and comply with numerous regulations before they can accept investments from NRIs living in Canada and the United States of America. This is done after they apply for the “Foreign Account Tax Compliance Act (FACTA)” related to the investment. Due to this rule, a small number of mutual fund companies operating in India allow investments from NRIs who reside in the United States. Additionally, NRIs who are citizens of another nation must confirm where they now reside by presenting the necessary documentation.

read more

https://mylawyersadvice.com/guide-to-real-estate-woos-of-nris-best-real-estate-attorney-advice-in-india-9/

[mylawyeradvise]

Guide to Real Estate Woos of NRI’s: Best Real Estate Attorney Advice in India

Investment in real estate is one of the most popular and lucrative investment option for the investors mainly because of its ability to generate regular cash flows through rent and many other benefits that come along like tax benefits, consistent RoI (Return on Investment) and a secure investment option. These are the reasons as to why a lot of NRIs are purchasing properties in India and are putting these properties on rent so as to generate passive income. The important points that an NRI has to keep in mind while renting out his or her property are as follows:

read more

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Guide to Real Estate Woos of NRI’s: Best Real Estate Attorney Advice in India

1. Use a tenancy agreement: Make sure you have a tenancy agreement in place that properly outlines the terms and conditions of the tenancy, including the rent, security deposit, maintenance responsibilities, payment due date and any other relevant details. The tenancy agreement is to be read and signed by the tenant before settling in the property.

2. Conduct background checks: one of the most important step to ensure that the estate you are renting will not become a breeding ground for illegal activities is to make sure that before renting the property a background check is being done on prospective tenants to ensure they have a good rental history and can afford the rent. This step will make sure that the property is being rented out to a reliable and trustworthy tenant.

3. Use a property management company: for an NRI who will not be physically present to look after his property it’s advisable to consider hiring a property management company to manage your property, collect rent, and handle disputes with tenants. A property management company can also ensure that your property is well-maintained and in good condition.

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