Does one needs to register the gift deed at the Indian Court and then transfer the property to another person’s name?
Question asked by Mr. Vijay from USA:
My daughter and I are both US citizens applying for PIO and live in USA. I want to gift a flat situated in Gurgaon, India to her. Do I need to go to Indian consulate for advice? Or as US nationals we follow the rule of law as in USA. What happens in India, do I get the registry of the gift done at the Indian court and transfer the property to her name.
Kindly guide me regarding the procedure.
We are of the view that a non resident indian or a foreign national but who has acquired the status of being a person of indian origin can gift residential / commercial property to the following persons:
(i) Person resident in India or
(ii) an NRI or
In your case, the gift deed can be executed only upon you and your daughter acquiring the PIO status. However, a foreign national of non-Indian origin is required to obtain the prior approval of the Reserve Bank for gifting the residential / commercial property.
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