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Selling property in India

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  • Selling property in India

    I live in US and I have some property (land) in India that I want to sell and transfer the funds to US. I have already researched about the tax implications etc. and I am ready to pay whatever taxes in India/US are due. The main thing I worry about is most people I know in India would not pay in white money to buy a land of high value. I want to keep my transactions entirely legal. I am speculating that there would be some NRI who plan to return to India interested in buying a property and may consider keeping their transaction legal and hassle free. What is a good forum to reach out to any such potential people?

  • #2
    Hi,

    Currently I am Living in UK and I wanted this Kind of Transaction.

    Please tell me price of plot.

    Regards
    NM

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    • #3
      Hmm, well, I think it will be easier for you to contact a lawyer in India, he will definitely help you to conduct the transaction as needed. But on the other hand, you could act in bad faith by selling the land for black cash and then sell it officially and the person who bought it unofficially will not be able to prove anything and you will receive double payment. But personally, I wouldn't do that, after all, conscience is more expensive. I am also a foreigner and when I bought my land on mossyoakproperties.com I just made a statement to the US government that I would arrive by plane with a large amount of money. If I'm not mistaken, if your amount of money does not exceed a certain limit, then you will not even have to pay tax. It's not that complicated, but I would advise you to consult a lawyer.
      Last edited by ILimeysTream; 04-05-2022, 08:27 AM.

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      • #4
        And you also think about the descent commission that can be when transferring funds from India to the United States. Honestly, it's far from easy to find where to transfer money with a minimum commission on your own. I would highly recommend you to contact Surveying Services In The North East. You will get a double benefit from this because you will receive a report in which, in addition to the questions you are interested in, you will receive the property's current market value. What's more, you'll get a report on what repairs the property needs so you can sell it for the highest possible price.
        Last edited by JonathanGill; 08-05-2022, 10:11 AM.

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