Gomti Estate
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FAQ's
Q.
Who is a Non Resident Indian (NRI)?
A.
An Indian citizen who stays abroad for employment/carrying on business or vocation outside India or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a non-resident. (Persons posted in U.N. organisations and officials deputed abroad by Central/State Governments and Public Sector undertakings on temporary assignments are also treated as non-temporary assignments are also treated as non-residents). Non-resident foreign citizens of Indian origin are treated on par with non- resident Indian citizens (NRIs).


Q.
Who is a Person of Indian Origin (PIO)?
A.
A person of Indian origin means a foreign citizen (other than a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan) who: - held an Indian Passport at any time, or - who or whose father or paternal grandfather was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955


Q.
Who can purchase immovable property in India?
A.
Under the general permission available, the following categories can freely purchase immovable property in India: a) Non-Resident Indian (NRI) - that is a citizen of India resident outside India b) Person of Indian Origin (PIO) - that is an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan), who - at any time, held Indian passport, or - who or either of whose father or grandfather was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955). The general permission, however, covers only purchase of residential and commercial property.


Q.
Can NRI's acquire commercial properties in India?
A.
Yes, under the general permission granted by the Reserve Bank of India, property other than agricultural land/farm house/plantation property can be acquired by NRIs provided the purchase consideration is met either out of inward remittances in foreign exchange through normal banking channels or out of funds from the purchaser's NRE/FCNR accounts maintained with banks in India and a declaration is submitted to the Central Office of Reserve Bank in form IPI 7 within a period of 90 days from the date of purchase of the property/final payment of purchase consideration.


Q.
Are foreign nationals of Indian origin allowed to purchase immovable property in India?
A.
Yes, foreign nationals of Indian origin, whether resident in India or abroad, have been granted general permission to purchase immovable property in India. No permission is required by non-resident Indian nationals to acquire immovable Property in India. Other than agricultural/ plantation/ farmhouse


Q.
Is there any way the Non-resident Indian can get finance on the flat?
A.
The purchase of the flats can be financed from the fresh remittance through the normal banking channels or from payment from original non-resident account or from Non-resident (External) Accounts. Non-resident Indians who are citizens of India (India Passport holders) are eligible for housing finance for the acquisition of an immovable property or construction of a new house, or a flat for their occupation or for that of their family in India. Loans are readily available from HDFC and other financial institutions.


Q.
Can such residential property be given on rent if not required for immediate residential use?
A.
Yes


Q.
Do non-resident Indians require permission to transfer any immovable property in India to a person resident in India or Indian origin resident outside India/ Non-resident Indian?
A.
No specific permission is required by Non-resident Indians to transfer any immovable property in India to a person resident in India. No specific permission is required for transfer any immovable property to a person of Indian origin resident outside India/ Non-resident Indian other than agricultural, or plantation property or farm house.


Q.
Non-resident Indians are staying abroad can the property be purchased through the agent or through the Power of Attorney?
A.
The non-resident Indians who are staying abroad may enter into an agreement through their relatives and/ or by executing the Power of Attorney in their favour as it is not possible for them to be present for completing the formalities of purchase (negotiating with the builder or Developer, drafting and signing of agreements, taking possession, etc.). These formalities can be completed through some known person who can be given the Power of Attorney for this purpose. Power of Attorney should be executed on the stamp paper before the proper authorities in foreign countries. Power of Attorney cannot be drafted on the stamp paper bought in India.

Guidance on land measurement

Calculating the area of any land might be confusing for a layman. But we have tried to simplify it for our customers giving them an exact idea of the land area. Here are few of the measurements for your reference.

1 square feet 144 inch (3 feetx3 feet = 9 feet)
1 square yard 9 feet
1 acre 43560 sq feet
  4840 sq yard
  4040 sq meter
1 hectare 11954 sq feet
  10000 sq meter
  2.4711 acre





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THANKS NOTE FOR OUR CLIENTS


"Team of Shree Raj Infra Housing (P) Ltd. Congratulates and thanks you
for providing us with the opportunity to assist you with your real estate needs. It is our sincere hope that you are completely satisfied with the level of service which was provided to
you and will avail yourself of our expertise again in the future. Thanks For making Gomti Estate a great success!!"