I am an NRI having a flat in Pune, Maharashtra. The flat comes under PCMC jurisdiction. My wife and I are the joint owners of the flat. We wanted to sell the flat, for which we were thinking of giving a Special Power of Attorney (PoA) to my Father-in-Law (F-i-L) by going through the formal process of Consulate and registration of PoA in India. I came to know that if we give the PoA to my F-i-L, he can register the PoA on Rs.500 stamp paper for his daughter being in the blood relationship. But, if I am giving the power to my F-i-L, it is calculated on the basis of selling price of the flat for registration of PoA, which will be in lakhs as it is not a blood relationship. Is it correct? If the above mention things are correct then, I feel that I have left with the following options: 1. We both travel to India for disposing the property and complete the formality. Comment: This seems to be unrealistic at this time. 2. Either of us travel to India and take the PoA of each other and finish the selling process. Comments & Question: In this case, what will be the registration process for PoA and how much it will cost? Does it need to be registered in Pune or anywhere in Maharashtra and, how much time it will take to register the PoA and further selling the property? 3. If I give the PoA to my father and, she gives the PoA to her father, by doing this the power will be transferred within blood relationship. Comments & Question: This seems to the best option to me at this time. It is the option by which we can avoid travel too. What’s the best way of doing this? If we plan to go ahead with this, how should I prepare the PoA? a) As a single PoA which will have name of both of us and the name of both the fathers as the power is given to her father and my father. b) Or shall we prepare two different PoA? In the first PoA, we both will give Power to my father and in second PoA we both will give Power to her father? c) Or is there a better way of doing this? Or is there any other option by which we can sell the property without travelling to India with minimum hassle and less registration cost of the PoA and, what will be the registration process for that? Also, to let you know that our parents are not living in Pune and they need to visit Pune to complete the transaction. And, is there any time limit for the validity of PoA?
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Your understanding is correct that if you execute POA in favour of father in law it would attract higher stamp duty
2) better option is to come down to india to sell the property
3) your wife can execute POA in favour of her father .it should be attested before Indian consulate
4) you can come down to india to sell the property
5) in alternative execute POA in favour of your father wife can execute POA in favour of her father
If there is no time limit stated in the POA then there is no time limit applicable
There's another option by which you and your wife need not travel to India, you would be saving lakhs of rupees on stamp duty, your parents need not travel to Pune for this purpose. The option is detailed below:-
You and your wife authorise your father-in-law appointing him as your agent through POA, which has to be carefully drafted, since your father-in-law is not your blood relative.
The validity of POA will be during the lifetime of the Principal/Agent. If you are asking for the validity of POA for Adjudication in India, it's 3 months.
2. You being a NRI, your wife cannot give POA to a NRI, hence it is advisable that she travel to India along with a POA given by you in her favor.
She can get it adjudicated in the place of her residence in India after which she can sell the property on her behalf and on behalf of her principal.
The time take to get the POA adjudicated can be enquired locally, normally it should not take more than a day or two.
3. a. There should be two POA deeds to be executed by both of you in favor of your respective fathers.
b. Yes.
c. This is the only proper way.
The POA deed has to be adjudicated within three months from the date of receipt in India.
There is a prescribed fee for stamping and attestation of POA . POA does create any ownership right so as such there is no stamp duty payable in calculation of value of the property. So it is incorrect that any higher stamp duty shall be payable by you.
1. If you can travel to India then it would be best otherwise you can also act through your duly appointed attorney who can represent you before registrar, execute sale deed etc.
2. Practically noy possible and it would be expensive too. POA can be registered where attorney lives and such POA is valid all over India.
3. Yes, as such there is no legal hurdle.
a. It is best that you both execute different POA appointing both father as attorney.
b. Yes, it is best and as such there is no legal hurdle.
c. Already replied.
POA of attorney is valid till assigned task is not accomplished.
Nothing as such. Merely executing the POA to sell the property attracts maximum 1000rs stamp duty.
Dear client,
The cost and process of registering a Power of Attorney (PoA) can vary based on the location and the specific requirements of the authorities involved. Generally, when a PoA is executed in favor of a blood relative, the stamp duty and registration charges may be lower compared to when it is executed in favor of a non-blood relative. However, the exact charges and requirements can vary between different states in India. It is advisable to consult with a lawyer or visit the appropriate registrar office to get accurate information about the specific charges and process in the PCMC jurisdiction.
If you choose the option for either of you to travel to India and execute separate PoAs, the process would involve drafting the PoA document, getting it notarized, and then registering it with the appropriate registrar office. The PoA can be registered in the city where the property is located (Pune in your case) or any other place in Maharashtra. The time required for registration can vary, but it is typically a matter of a few days to a couple of weeks. The registration process may involve submitting the necessary documents, paying the registration fees, and appearing before the registrar for the formalities. It is advisable to consult with a lawyer to understand the specific requirements and timeline for registering the PoA in your situation.
If you both give a PoA to your respective fathers, it would be considered a valid arrangement within the blood relationship. The PoA documents can be prepared separately, with one PoA giving power to your father and another PoA giving power to your wife's father. It is important to clearly mention the scope of the power given, including the authority to sell the property. However, it is recommended to consult with a lawyer to ensure that the PoA documents are drafted correctly and comply with the relevant laws and requirements.
Another option to consider is engaging the services of a trusted attorney or a reliable power of attorney agent in India who can act on your behalf for the sale of the property. This option may require careful selection and due diligence to ensure that the person or entity appointed as the power of attorney agent can represent your interests effectively.
Regarding the validity of the PoA, it can vary based on the terms specified in the document. It is advisable to consult with a lawyer to ensure that the PoA is valid for the necessary duration and covers the period required for completing the property sale process.
Please note that the information provided here is general in nature, and it's crucial to consult with a qualified attorney who can provide you with advice specific to your case. They will be able to review the details of your situation, consider the relevant laws and regulations, and guide you through the process of executing and registering the PoA and selling the property in India.
