At Ravinanda Landmarks, we strive to maintain global standards for quality and customer satisfaction. As the India success story unfolds, we cater to a lot of customers from around the world who place their trust in our projects. To make the process of buying a property easier for our ever growing NRI customer base, we have compiled a comprehensive set of facts, rules and requirements in one place which makes investing in our properties a breeze.
We whole-heartedly invite you to invest in the finest homes and the smartest corporate avenues of Ravinanda Landmarks. We will be too happy to discuss your plans and help you arrive at the right investment decisions.
Persons of Indian Origin Card (PIO Card) was a form of identification issued to a Person of Indian Origin who held a passport in a country other than Afghanistan, Bangladesh, Bhutan, China, Nepal, Pakistan and Sri Lanka.
Persons of Indian Origin (PIO) of certain categories who migrated from India and acquired citizenship of a foreign country, other than Pakistan and Bangladesh, are eligible to be granted an OCI as long as their home countries allow dual citizenship in some form or the other under their local laws.
1. Non-Resident Indian (NRI) – that is a citizen of India resident outside India
2. 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
(a) At any time, held Indian passport, or
(b) 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.
The documents needed for obtaining NRI home loans are Bank specific. General list of documents are as mentioned below:
1. Passport and Visa
2. A copy of the appointment letter and contract from the company employing the applicant.
3. The labour card/identity card (translated in English and countersigned by the consulate) if the person is employed in the Middle East Salary certificate (in English) specifying name, date of joining, designation and salary details.
1. A Power Of Attorney (POA) or letter of attorney is a written authorization to represent or act on another’s behalf in private affairs, business, or some other legal matter, sometimes against the wishes of the other. The person authorizing the other to act is the principal, grantor, or donor (of the power).
2. A Power Of Attorney is not an instrument of transfer in regard to any right, title or interest in an immovable property.
3. A Power Of Attorney, or letter of attorney, is a document that authorizes another person, known as the agent or attorney-in-fact—usually a legally competent relative or close friend over 18 years old—to handle any combination of financial, legal and health care decisions. A power of attorney is also referred to as a POA. Generally, one chooses a POA as a provision if he or she becomes incapacitated.
The mere acquisition of property does not attract income tax. However, any income accruing from
the ownership of it, in the form of rent (if it is let out)/annual value of the house (if is not let out and
it is not the only residential property owned by that person in India) and/or capital gains (short term
or long term) arising on the sale of this house or part thereof is taxable in the hands of the owner