Protecting your Non-Resident Indian (NRI) property in India can be a complex process. But, there are several steps you can take to ensure its safety and security.
Firstly, it is essential to have all legal documents related to the property in order, including the title deed, property tax receipts, and any other relevant paperwork. These documents should be kept in a safe and secure place, such as a bank locker, to prevent theft or loss.
Secondly, it is important to appoint a trustworthy and reliable power of attorney (POA) to handle any legal or financial matters related to the property in your absence. The POA should be someone you trust implicitly and who has a good understanding of Indian property laws.
Thirdly, it is advisable to hire a property management company like S2NRI to oversee the maintenance and upkeep of your property. This can include regular inspections, repairs, and maintenance work, as well as ensuring that the property is kept secure and free from encroachment or illegal occupation.
Fourthly, it is recommended to purchase a comprehensive insurance policy for the property, which can protect against damage from natural disasters, theft, and other unforeseen events.
Finally, it is important to stay informed about any changes in Indian property laws and regulations, and to seek professional legal advice if necessary. This can help prevent any legal disputes or complications that may arise in the future.
Yes, you can concern this matter with a property manager. Just go through the ads, or you may contact Services2NRI, which provides support for property management in Mumbai. It takes a ton of safety measures, especially through legal ways for safeguarding your property. Besides, you may follow these steps for this purpose:
- Fence your property properly.
- Provide a power of attorney to a legal advisor or any of your relatives to ensure its end-to-end management.
- If there are tenants, draft a legal rent agreement with specific terms and conditions.
- Verify your tenants with police.