As an NRI seller/ buyer from Kerala, there are several important documents that are typically required. These documents help establish your identity, legal ownership of the property, and comply with regulatory requirements. Here is an expanded explanation of each document:
1. Passport: A valid passport is a primary identification document that establishes your NRI status and verifies your identity.
2. Overseas Address Proof: Providing proof of your overseas address is necessary to confirm your current residency abroad. Documents such as utility bills, bank statements, or government-issued identification cards with your overseas address can serve as proof.
3. PAN Card: The Permanent Account Number (PAN) card is a unique ten-digit alphanumeric code issued by the Indian government. It is required for financial transactions, including the sale of property, and helps track your tax liabilities.
4. Aadhaar Card: While not mandatory for NRIs, having an Aadhaar card can be beneficial as it serves as a proof of identity and address. If you possess an Aadhaar card, it is advisable to include it in the documentation.
5. Power of Attorney: If you appoint someone to act as your representative in the property sale, a notarized Power of Attorney document is essential. This document authorizes the appointed individual to handle the sale transaction on your behalf.
6. Sale Agreement: The original sale agreement or deed of sale outlines the terms and conditions of the property sale. It includes details such as the sale price, payment terms, and transfer of ownership. This document is crucial for validating the transaction.
7. Property Documents: You need to provide the original property documents to establish your legal ownership. These may include the title deed, previous sale deeds, and possession certificate. These documents verify that you have the legal right to sell the property.
8. Tax Documents: Tax-related documents, such as Tax Deduction at Source (TDS) certificates, may be required if applicable. TDS is deducted from the sale proceeds as per the prevailing tax laws, and the certificate serves as evidence of tax compliance.
9. Bank Account Details: You need to provide the details of your NRI bank account to which the sale proceeds will be transferred. This includes the account number, branch details, and IFSC to verify the account’s authenticity.
10. Clearance Certificates: Certain clearance certificates may be necessary, such as the Non-Encumbrance Certificate (NEC) and Tax Clearance Certificate. The NEC verifies any outstanding dues or legal encumbrances on the property, while the Tax Clearance Certificate confirms the payment of relevant taxes.
It is important to note that document requirements can vary depending on the nature of the property transaction and local regulations. Consulting with a legal professional or real estate expert is recommended to ensure compliance with all necessary documentation for selling your property as an NRI in Kerala.