Guide to Real Estate Woos of NRI’s: Best Real Estate Attorney Advice in India
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Legal Advice & Solutions for NRI’s & their Estates & Properties in India-1: Best NRI Legal Services in India
“Non-Resident Indians or NRI’s face a plethora of difficulties in managing their real estate in India. Further, there are several internal factors which includes involvement of friends and families in IndIa which further makes it the property management difficult for NRI’s. There are several other external factors which further make the rela estate management difficult. To overcome all these the NRI’s have to personally travel and need to take care of their estates and properties in India. Having said that, a short stay in India does not in any manner solve their problems and hence specialized legal advice on real estate issues and/or property disputes by a seasoned real estate Attorney or a property Lawyer in India is inevitable.”
What difficulties do NRIs face while managing their estate and properties in India?
It is tough for a non-resident to manage Indian property from a foreign nation. The procedure itself might be difficult and time-consuming. In order to protect the NRIs’ properties in India, it is also important to take proactive measures, such as hiring an in-country caretaker to look after the property while the NRIs are away and getting legal counsel. It would not be practicable for NRIs to frequently go to India from their home country if there are any property concerns. Additionally, it will be costly and impracticable to proceed with the journey expenditures. Unfortunately, there are many property issues now in India. Therefore, it is crucial to resolve the property issue as soon as is practical. In-depth explanations of several facets of particular Indian law, including the legal framework pertaining to land disputes in India, will be provided by Indian attorneys with years of expertise in these cases. Additionally, consulting a qualified and knowledgeable attorney can enable the NRI to limit expenses and prevent further disputes.
Being an NRI has a number of drawbacks, one of which is that you cannot live permanently in India. For an NRI, this drawback solely has an emotional impact. NRIs have experienced a variety of land problems in India over the years, including tenant conflicts, unlawful occupation, and illegal property sales, to mention a few. In addition, dealing with the ownership of the land or property title, registration requirements, etc., can be problematic for NRIs. NRIs may become perplexed in these situations and seek suitable legal counsel in order to quickly and painlessly resolve the aforementioned problems. Furthermore, NRIs need a top-notch property management attorney to handle land issues effectively and affordably. Property management attorneys are tasked with pursuing cases pertaining to property or land dispute concerns and helping their clients promptly and efficiently resolve land disputes.
For an NRI, investing in real estate has shown to be quite profitable. For NRIs, purchasing real estate offers several benefits, especially when purchasing land. However, the majority of NRIs are either unaware of or have never addressed the problems associated with such investments. For instance, it may be difficult for an NRI to be aware of their local legal rights, to get the appropriate advice or information for the land they wish to invest in, to analyse shifting market trends, etc.
The difficulties that NRIs may encounter when investing in lands in India include matters relating to illegal possession of the land, ignorance of the NRIs’ local legal rights when investing in lands in India, shady records maintained by property dealers or builders, delays in the verification process, and challenges in receiving proper and competent legal Attorney.
The crucial point to keep in mind is that NRIs are more engaged and interested in the real estate industry. The primary drivers of the growth in real estate investment in India are now rapid urbanisation and rising family income. Another explanation for the increase in the real estate market is the idea that the nuclear family emerged from the joint family. Because they are confident and because the government is encouraging and supporting real estate investment, the majority of NRIs invest largely in the real estate industry. NRIs are still interested in real estate because to its long-term profitability even if Covid-19 has an impact on the industry. For NRI real estate investors, there are several measures and multiple requirements. For instance, an NRI cannot purchase or sell a particular type of property. NRIs should thus conduct thorough study on the relevant business or sector before investing in the real estate market. It will be advisable to seek out expert assistance or guidance from a real estate specialist. A detailed understanding of all facets of the real estate industry will be provided by real estate experts.
Authored By: Adv. Anant Sharma, Vikrant Rathore & Lehar Saini
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