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Question
Hello sir,
I thank you for reading my email and helping me to make a decision.
I am 29 year old male residing in United States. My parents are retired and live in India.
I am buying some real estate property in India to tune of 75 lakhs. I am an Indian citizen myself but am in the process of getting a US greencard.
I would like to buy property under my dads name. Ultimately the property is mine as I don't have any brothers or  sisters. I want to know if there are any problems involved. And when the assets gets transferred eventually, would there be any legal fee or tax or another big fee that I need to know about?
I want to buy the money in their name because once I get greencard I would be taxed on my property both in India and America .
My dad also owns 2 more property in India from the money I transferred to me from USA.

Thanks
Any other suggestions will help.

Answer
If your father is a citizens of India, then certainly you can purchase immovable property in your father's name at any place in India except J&K.However,the said property will remain in the name of your father, since Conveyance-Deed is to be executed in his name.Moreover, he should have a PAN and Income-Tax Clearence Certificate for the purpose. subsequently, he can transfer his right/interest in the said property to anybody including yourself through a Gift-Deed,WILL,Conveyance-Deed etc.An NRI can hold immovable property in India subject to compliance with the FEMA and other applicable laws.For further details, please consult an advocate conversant with the property laws as well as FEMA..

Indian Law

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Arun Kumar Maitra

Expertise

Contract Law,Companies Act,Sale of Goods Act,Partnership Act,Negotiable Instument Acts,Constitution of India,Arbitration Act,Consumer Protection Act,Maternity Act,Payment of Gratuity Act,Payment of Bonus Act,Shops & Establishment Act etc.The answer to the grievance of the particular online query depends on the facts of the particular case and law applicable to it.However,my comments relating to the various queries raised through the "All Experts" should not be treated as legal advices and should not at all be relied upon.I do not accept any responsibility for them.They will only give you some ideas about the probable merits of your cases.Ultimate actions/decisions in the matter may please be taken in consultation with the Legal Experts in the relevant fields.My purpose of giving the comments is to increase my own knowledge on the subjects and share it with others.It is purely of academic interest to me. I strongly feel the more knowledge we share,the more we shall be able to learn because there is neither any age nor any end to learning.

Experience

I have experience of dealing with matters relating to holdings of board/general meetings,maintenance of statutory registers,filing of necessary returns with the RoC,obtaining licenses for import,replies to Parliament Questions,dealing with the Parliamentary Committees,appearing before various courts to defend my employers,filing affidavits/counter -affidavits,preparing written statements/re-joinder,giving advice to management on complicated legal issues,preparation,drafting and vetting of contracts etc. I have more than 35 years of experiences to deal with the Company Law and Other Commercial Laws of leading Organisations in the country both in Public as well as Private Sectors.

Organizations
Member,Inst. of Chartered Accountants of India Member,Inst. of Company Secretaries of India; Member,Bar Council of India Member,All India Management Association Member,Delhi Management Association Ex. Vice-Chairman,Durgapore Chapter of the I.C.A.I. Expert ,CA Club India Expert ,Lawyers Club India Expert,AllExperts Ex. Faculty ,I.C.S.I as well as I.C.W.A of India Retd. Co. Secy. & G.M.(Law)/NFL(A Mini-Ratna A Schedule Central P.S.U.),New Delhi Ex.V.P.(Secretarial Dept.),Jaiprakash Associates Ltd. Ex. Co. Secy.,MAMC(A Govt. of India Enterprise),Durgapore

Publications
Nil.

Education/Credentials
M.Com;LL.B;A.C.A;A.C.S.

Awards and Honors
Obtained ''A'' Grade Certificate in the Parliamentary Procedure from the Secy. General of Parliament in 1994-95.It was in connection with a training course conducted by the BPE for PSU Executives.

Past/Present Clients
I am presently working as a Company Secretary in Old World Hospitality Pvt. Ltd.located in Delhi.It is engaged in Hospitality Industry.It has Units in India and abroad.It has been given the responsibility to look after operation & Management of ''India Habetat Centre'' located at Lodhi Road,New Delhi.

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