You should open NRE account and funds for purchase of NA plot should be made from m said account

2) you can execute POA in favour of father for purchase of NA plot

3) PO A should be attested before Indian consulate

4) An OCI can purchase immovable property in India barring agricultural land, plantation property and farmhouses

Hi, You can transfer the money to your father account and same has been paid through his account and if you want to register in your name then you have to execute general power of attorney on behalf of your father, on the basis of the Power of Attorney your father can register the property in your name.

Hello,

OCI can purchase land in India. Agricultural land etc being an exception to the same, which can not be purchased by an OCI.

There is no legal hassle that if the payment is made through your fathers account, if he is giving an affidavit to this effect since all the payments have already been made through this account. But, it would be good if the payment can be made through NRO account.

If the property is being bought on the name of your parents, then I would advise you to become a co-owner in the same.

Regards

it is best option that you come at india and execute a PoA in favour of your father for the purpose of taking membership and purchasing a property from a society. because payment of consideration is not the last occasion. you presence will be required on several occasion in this respect.

1) open NRE account and transfer funds in said account

2) to avail long term capital gains exemption on sale of land your father should invest the entire sale proceeds

3) the investment can be in joint names . Your father should be co owner of the land

4) not necessary that father should have regular income to be co owner of land and house constructed in said land

You can transfer it in your father's account.

yes he can avoid LTCG.

No, he can not be the co-owner without regular source of income, however if you want you can gift him 50% of the property and thereby he will become the co-owner.

Regards

1. Your father making the payment from his account is not illegal as per law. He can pay the final installment also the way he has paid earlier.

2. & 3. You can execute a POA in favour of your father which might be required later on for maintaining your said property since you stay abroad. You should always open a NRE account for transferring your money to keep evidence of all your money transactions in India.

1. You can opt for any of the options mentioned by you.

2. Your father will not get any rebate on his long term capital gain for selling his property and build your house.

3. Her can claim rebate from paying capital gain tax if he builds house standing in his name or in joint names with you.

4. You can make him co-owner even if he is unemployed.

you first execute power of attorney in the name of your father, then transfer money to your father's account to pay of the purchase price.

you may do one thing without coming at india.

you collect the draft of PoA from india through your father and get it notarised at your workplace, send it to your father. upon receiving the same your father will value it through the office of concern collector and will register it in india.

after that you will put money to your father's account.

whether your father will build a house at your land or not, it is immaterial. as and when your father will sale his land it will attract long term capital gain and he will not be entitled to get benefit of construction of a house in the land of your name. if you make him co-owner he will get fifty percent relaxation.

for making him co-owner no regular income source is required.

My question is: 1. Can my father continue the same way of issuing the final installment from cheque and give affidavit?

Your father can continue to make the payment in the same manner as was done earlier.

2. Or Should I get my father a PoA for this plot by going to India first and then let my father pay it using his cheque.

What is POA doing in this. If you want to to authorise your father to sign the papers for purchasing the property on your behalf then you can authorise him by executing a POA deed in his favor.

3. Or should I open NRE account and can let my father pay part of final amount from his cheque and rest part of final payment from my NRE account?

It is always advisable to open a NRE account in India not only for this purpose but it will be useful for some other purposes in future too.

Also, will I have to do anything additional during registration of this plot like certify with RBI or something. I am sorry I am not aware of this formality.

The permission or any certificate from RBI is not necessary for this situation.

I am looking for one hassle free option. With all the answers I have received, if I decide to go to India to make final settlement, should I take money with me in foreign currency or transfer it in my fathers account or open NRE account and transfer it there?

You can better transfer the amount to your father's account and then transfer to your account after opening a NRE account in your name.

Also, if my father want to build house on it from his money by selling the land he has, can he avoid long term capital gain by showing he is using his money to build on house on plot under my name or will I have to make him a co-owner? If I need to make him co-owner, can he be one without any source of regular income?

For utilising his money earned out of long term capital gains and to claim an exemption to it he may become a co-owner of the property otherwise he cannot claim exemption if he is just investing the sale consideration amount on your name