Buying property in India as a Non-Resident Indian (NRI) can be a great investment, especially in Dholera Smart City, one of India’s most ambitious urban development projects. However, the property registration process for NRIs involves specific legal steps and documentation.
This guide explains the step by step process for NRI property registration in Dholera, the documents required, and key legal considerations to ensure a smooth and secure investment.
Can NRIs Buy Property in Dholera Smart City?
Yes, NRIs can buy property in Dholera under the Foreign Exchange Management Act (FEMA) regulations. NRIs can purchase residential and commercial properties, but there are restrictions on agricultural land.
Key Points for NRI Property Buyers in Dholera
- NRIs can buy residential plots, apartments, and commercial spaces in Dholera.
- NRIs cannot buy agricultural land without special approval.
- Power of Attorney (PoA) can be used if the NRI cannot be present during registration.
- All transactions must be in Indian Rupees (INR) through an NRI bank account.
Step-by-Step Process for NRI Property Registration in Dholera
1. Research & Select the Right Property
- Explore Dholera SIR projects.
- Verify if the property is RERA registered for legal security.
- Check land title documents to avoid disputes.
2. Hire a Real Estate Lawyer or Authorized Agent
- A real estate lawyer in Gujarat can help verify the property’s legal status.
- Ensure the seller has a clear title deed and no pending loans.
3. Execute a Sale Agreement
- A sale agreement is signed between the NRI buyer and seller.
- Pay a token amount (10-20%) to book the property.
4. Obtain Necessary Documents for Registration
Documents Required for NRI Property Purchase in Dholera:
- Passport copy (with visa stamp)
- PAN Card (mandatory for property registration)
- Overseas Address Proof (utility bill, driving license)
- Passport-sized photographs
- Power of Attorney (PoA) (if someone is registering on your behalf)
- Sale Deed & Title Documents (from the seller)
5. Pay Stamp Duty & Registration Fees
- Stamp duty in Gujarat is around 4.9% to 7% of the property value.
- Registration charges are 1% of the property value.
- Payment must be made via NRI bank account in INR.
6. Register the Property at the Sub-Registrar Office
- Visit the Dholera land registry office with all documents.
- Both buyer and seller must be present (or PoA holder).
- The sale deed is signed and registered.
7. Apply for Mutation (Khata Transfer)
- After registration, apply for mutation to update municipal records.
- This ensures the property is legally transferred to your name.
Important Legal Considerations for NRIs Buying Property in Dholera
1. FEMA Regulations for NRI Property Purchase
- NRIs must use Indian Rupees (INR) from an NRI account.
- Funds should be remitted through banking channels (not cash).
2. Power of Attorney (PoA) for NRIs
- If you cannot visit India, appoint a trusted representative via PoA.
- A notarized and apostilled PoA is required if executed abroad.
3. Tax Implications for NRI Property Buyers in Dholera
- Capital Gains Tax applies if you sell the property later.
- TDS (Tax Deducted at Source) of 20-30% may apply on property sales.
4. RERA Compliance for Dholera Properties
- Ensure the developer is RERA registered for legal protection.
- Check project approvals to avoid fraud.
Conclusion
Buying property in Dholera Smart City as an NRI is a secure investment if you follow the legal process for NRI property registration in Gujarat. By verifying documents, paying stamp duty, and registering the sale deed correctly, you can avoid legal hassles.
If you need help, consult a real estate lawyer or authorized agent to guide you through the process smoothly.
Are you an NRI looking to invest in Dholera real estate? Follow this guide to make a safe and profitable investment!
