About Us
Property sale/purchase and its legal paperwork can be complicated and costly for NRIs without the right guidance and experts. With over a decade of experience, the NRI Beacon is here to answer all your questions and concerns to ensure you have a hassle-free process with your property sale. Rest assured, we are committed to delivering our brand promise: effective communication, integrity, timely handover, and 24/7 accessibility.
Now servicing in Bangalore
Services Offered
Below are some of the popular services we offer:
Consultancy
We’ll walk you through the sale process from start to finish. Our one-on-one session will prepare you for what to expect during the sale process and after you’ve received the sale consideration. Feel free to ask us anything!
Legal Paperwork
Our team of expert legal advisors is here to guide you and help you prepare, review, and execute property-related legal documents such as gift deed, power of attorney, will, sale agreements, sale deeds, joint development agreements, rental agreements, lease deeds, etc.
Capital Gain and Tax Advisory
We will help you assess your tax outflow after the sale (long-term gains are taxed at 20%, and short-term gains are taxed at applicable slab rates). We will also advise you on various other aspects such as period of holding, indexation, fair market value, indexed improvement costs, etc. while computing the tax liability.
Repatriation of Sale Proceeds
Once the sale is complete, the entire proceeds would have to be repatriated to your foreign bank account. This process involves liaison with your bank and preparing paperwork such as LRS declaration, FEMA compliance, outward remittance application, 15 CA CB certification by a Chartered Accountant, etc.
Fair Market Valuation
For properties that are acquired by you before April 1, 2001, you have the option to take the fair market value of the property as of April 1, 2001, in place of the cost of acquisition. Our expert valuers will help determine this value and issue a valuation certificate that is recognized by the Income Tax Authorities.
TDS Lower Deduction Certificate Sec 197
For properties sold by an NRI, tax is withheld by the buyer at the rate of 20% + Cess + Surcharge of the total sale value. This withholding tax/TDS can be reduced by submitting an application in Form 13 to the Income Tax Authorities before the sale.
Repatriation of Sale Proceeds
Once the sale is complete, the entire proceeds would have to be repatriated to your foreign bank account. This process involves liaison with your bank and preparing paperwork such as LRS declaration, FEMA compliance, outward remittance application, 15 CA CB certification by a Chartered Accountant, etc.
Fair Market Valuation
For properties that are acquired by you before April 1, 2001, you have the option to take the fair market value of the property as of April 1, 2001, in place of the cost of acquisition. Our expert valuers will help determine this value and issue a valuation certificate that is recognized by the Income Tax Authorities.
TDS Lower Deduction Certificate Sec 197
For properties sold by an NRI, tax is withheld by the buyer at the rate of 20% + Cess + Surcharge of the total sale value. This withholding tax/TDS can be reduced by submitting an application in Form 13 to the Income Tax Authorities before the sale.
What makes us the #1 NRI property advisory platform in India
Seamless experience from start to finish! Highly recommend their services
My Indian colleague suggested them to me .I’m glad I took the leap. The team answered all my my queries and issues and was super responsive on whatsapp. I don’t think I could have sold my house without their help. Thanks, Nri Beacon!
Seamless experience from start to finish! Highly recommend their services
I’d recommend them! Easy to communicate with and gets the job done without any unnecessary hassle!
Sold my Bangalore house without even travelling to India using their Power of Attorney services. Thanks to the team for fabuluous execution.
FAQs
Yes, an NRI is free to buy and sell property in India, subject to certain conditions as per FEMA guidelines.
Yes, an NRI is free to gift properties to family or relatives. There is no concept of gift tax or inheritance tax in India.
You can execute a power of attorney on any person in India who can represent the sale on your behalf.
POA is a document executed by the seller of the property giving authority to any other person to execute the sale on his/her behalf.
The POA can be given to a family member or any other person.
The minimum price would be the Guidance Value. There is no restriction on the maximum; it’s based on what’s agreed with the buyer and seller.
It is the value listed in the sub-registrar records. This can be looked up by quoting the address and the most recent tax receipt of your property.