What documents are required to sell property in India?

What documents do you need to sell a property in India?

Checklist for selling property in India

  • Encumbrance Certificate.
  • Latest Property Tax Receipt.
  • No Objection Certificate.
  • Completion certificate and Occupancy Certificate.
  • Power of Attorney.

What is the procedure for selling property?

When seller is selling property like a house, the seller must obtain the permission to transfer the property from a competent authority – development authority or society. The buyer is entitled to ask for the original stamped receipts of payments made to the builder or developer by the previous and present sellers.

How do I sell my property in India?

The process of selling a property owned by an NRI in India is as follows:

  1. Hire a brokerage company to conduct a comprehensive valuation of the property and determine its value.
  2. Carry out all the necessary paperwork related to the sale of the property. …
  3. Understand the tax liabilities.
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What is required for selling a house?

The most common documents you may need to include with the contract are: A zoning certificate. This is issued by local council and shows planning controls and other things which may affect the property, such as any proposed road widening. A drainage diagram.

How much tax do you pay when selling a house in India?

Long term Capital Gains on sale of real estate are taxed at 20%, plus a cess of 3%, if the sale fulfils certain conditions. If you sell a property that was gifted to you, or that you have inherited, you will still be liable to pay capital gains tax on it.

How can I repatriate money from the sale of property in India?

Yes, general permission is available to the NRls/PIO to repatriate the sale proceeds of the immovable property inherited from a person resident in India.

How can I sell my flat fast?

Some of the things that you need to keep in mind if you want to sell your flat quickly in India are:

  1. Understand the Market Trends. …
  2. Quote the right price for the property. …
  3. BHK type of the property plays an important role. …
  4. List your property online to reach large audience.

How do you sell a customer to a flat?

Ten of the best … tips to help you sell your home in a flat market

  1. Choose your estate agent well. You don’t have to sell your home through an estate agent, but if you do, choose carefully. …
  2. Haggle over fees. …
  3. Get the price right. …
  4. Get organised. …
  5. Clear the clutter. …
  6. Improve your home … …
  7. 7. … …
  8. Don’t hover over viewers.
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Can I sell my property in India without going to India?

If you are a Non-Resident Indian, you can sell the property to a Resident Indian without restrictions. If the buyer is a Non-Resident Indian or a Person of Indian Origin (POI), you may need the approval of the Reserve Bank of India (RBI). You are not allowed to sell the property to a foreigner.

Can OCI buy property in India?

A: OCI card holders can purchase residential and commercial properties in India. … A foreign national of non-Indian origin, resident outside India cannot purchase any immovable property in India unless such property is acquired by way of inheritance from a person who was resident in India.

How can I sell my house quickly in India?

Quick tips to sell your home faster

  1. Choose the Right Broker. …
  2. Check Your Curb Appeal. …
  3. Ensure That Your House is Sparkling Clean. …
  4. Register Your Property Online. …
  5. Make Minor Repairs. …
  6. De-personalise, De-Clutter and Tidy Up. …
  7. Highlight the USP of the House. …
  8. Ensure that You are Flexible.

When I sell my house do I get my deposit back?

Your solicitor transfers it to your seller’s solicitor when you exchange contracts on the sale. This is known as the ‘point of no return’, in that if you back out of the purchase now, you will lose that money. Your exchange deposit is typically 10% of the property price.

What tax do you pay when selling a house?

Capital gains tax (CGT) is payable when you sell an asset that has increased in value since you bought it. The rate varies based on a number of factors, such as your income and size of gain. For residential property it may be 18% or 28% of the gain (not the total sale price).

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Do I need my title deeds to sell my house?

Do You Need The Deeds To Sell A House? In order to sell your property, you must either have the original deeds or know that they have been digitally registered with HM Land Registry in your name.

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