Quick Guide: How NRIs Can Sell Inherited Property in India

Second: Arrange all the required documents

Soon after you transfer the property title to your name, you have to start arranging all the requisite documents or papers which will be required while selling the property. The list of documents include original purchase agreement, Original share certificate if the residential property is in a co-operative society, No objection certificate (NOC) from the society, Copy of approved plan and occupation certificate issued by the concerned authority like municipal corporation, Lawyer certificate and the PAN number.

According to Amar Shah, Co-founder of property consultancy firm Golden Abodes, "The lawyer would take out a search and title report of the property. This report will track the owners of the property over the last 3-5 decades by tracking records in government registry offices. He will then place a public notice in a regional language and English/Hindi newspapers and wait for the prescribed period of time to see if anyone is claiming rights for the said property. After that, if the search and title report shows the seller as the final title bearer and no objections/claims are raised, he would issue a certificate mentioning that the seller is the rightful owner of the property,” reports Economic Times.

"An NRI must get a PAN for making the sale of property as after sale of property, it will be required to apply for Tax Exemption Certificate under section 197. If he does not have a PAN, he can apply for one by sending the signed application along with copies of ID and address proof documents," Added Shah.