• Registration of property in India (Bangalore) by a US citizen

Hello,
I am citizen of US.  I am of indian origin and I have OCI (Overseas citizen of India) as well.  I bought a villa in Bangalore and I am India for it's registration.

My question is:
1.  Is PAN card required for registration of property?  Can registration be done without it?
2.  I do not have PAN card.  I applied for one but I do not have time to wait for it.  I am in India for only 5 more days. 
3.  Is there any alternate for PAN card that I can obtain for registration?

Kindly advise,
Ramana
Asked 1 month ago in Property Law from United States
Religion: Hindu
1) PAN card is required for registration of property 

2) quoting of PAN is being made mandatory for any purchase or sale of immovable property exceeding the value of Rs 10 Lakh.

3) You cannot  submit other ID proofs like Aadhar card, Voter Id, Driving license etc.,for registration purposes 
Ajay Sethi
Advocate, Mumbai
23397 Answers
1229 Consultations
5.0 on 5.0
Since you are now US citizen you are not entitled to PAN card anymore.
However since you are person of Indian origins you can apply for purchase of property through Reserve Bank of India.
Once it grants permission you do not require PAN card anymore.
Devajyoti Barman
Advocate, Kolkata
5248 Answers
54 Consultations
4.9 on 5.0
Form 15G/15H can be submitted before registrar at the time of registration.

Nadeem Qureshi
Advocate, New Delhi
3539 Answers
131 Consultations
4.9 on 5.0
Quoting of PAN Number in the Sale Deed of both Seller and Buyer for immovable properties valued at more than 10 lakhs is compulsory and mandatory. In its absence the registration cannot be completed. 
Your only alternative would be to sign the sale deed and authorize your next of kin to present the sale deed for registration on that day in your absence. You can execute this document when you are here in India in their favour, it is a simple process, after this he/she can get the sale deed registered after receiving the PAN Card.
Kiran N. Murthy
Advocate, Bangalore
766 Answers
52 Consultations
5.0 on 5.0
1. It is mandatory to mention PAN card no. in the title deed while registering the deed.

2. You shall have to wait till you get the PAN card for registering the said Deed.

3. You have already applied for the PAN card which you will get in time. If you can not stay till then, you shall have to register a POA in favour of any of your friends or relatives who will register the said sale deed in your favour signing the said deed as your POA holder after the PAN card is issued to you.
Krishna Kishore Ganguly
Advocate, Kolkata
12143 Answers
234 Consultations
5.0 on 5.0
The Reserve Bank of India permits an NRI, or a PIO to buy residential and commercial property in India. But they cannot purchase agricultural land, plantation land or a farm house in India. An OCI can also purchase immovable property in India barring agricultural land, plantation property and farmhouses.
Here are the documents an overseas Indian would need when they’re trying to purchase commercial or residential property in India.
Address proof
OCI/PIO card (In case of OCI/PIO)
PAN card (Permanent account number)
Passport (In case of NRI)
Passport size photographs.

An NRI, PIO or OCI can purchase immovable (commercial & residential) property in India using their repatriable funds. But a major clause regarding the purchase is that none of the payments can be made in foreign currency.
The buyer has to make the purchase in rupees through funds received in India via normal banking channels, or through funds maintained in any non-resident account under FEMA and RBI regulations.
Another condition is that the amount to be repatriated should not exceed the amount paid for the property in foreign exchange received through normal banking channel or by debit to an NRE account.

Also, any rent collected from the property is taxable, and the owner will have to obtain a PAN card and file their income tax returns.


Thus obtaining PAN card for the said purchase is essential 
T Kalaiselvan
Advocate, Vellore
14170 Answers
128 Consultations
5.0 on 5.0
 PAN is required in India for registration of immovable properties valued at five lakh rupees or more. Ordinarily, foreign citizens of Indian origin are exempt from providing PAN. When a transaction calls for producing a PAN, those who do not have PAN are required to file a declaration in Form 60. Form 60  can be submitted to the IT department in lieu of PAN Card.  Since getting a PAN card in India is relatively easy, many non-residents are advised by builders, brokers etc. to simply get a PAN as things move faster, without the requirement of additional documents/questions that some registrars might come up with. Furthermore, when selling or repatriating sale proceeds of property, PAN will be required. 
Ashish Davessar
Advocate, Jaipur
18264 Answers
450 Consultations
5.0 on 5.0

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