So what implications one should be aware off before venturing in such a project ?
Are we allowed to do so ,if so is it complicated ? Any experiences r welcomed .

Yes you can buy.

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The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM

CHAPTER 1

Here is a link to buying Property in India for People living in Canada. It is a big benefit for the Indian realty bazaar. So read thoroughly all the sections.

From the Government websites Know who are NRIs and PIOs

NRI: Non-resident Indians (NRIs) Yes, NRIs have an Indian passport and nationality, though they have gone abroad from the country. Also Indians who hold foreign Citizenship.

PIO: Status which the Government of India lets someone of Indian origin for up to four generations, who are considered permissible to purchase property in the country. Also this status has boosted the speed in the building and sale of the property in the country.

In short, the Indian Government set up this Overseas Citizenship of India plan to permit a form of dual nationality to NRIs and PIOs. The PIO status has now been merged with the OCI status.

Can an EX - Citizen of India now a Canadian buy Property in India?

FH.

Some items to verify. http://www.wecareinvest.com/nri/buy-property-india-canada/

ITEMS TO LOOK FOR. If you are buying a property with amenities. They are... In no specific order.

1) UPS or Power Back up.
2) Piped Gas
3) Clubhouse
4) Swimming Pool
5) Gym
6) Solar Water Heater
7) Additional Water Resources
8) Park
9) Multiple Parking
10) CCTV Monitoring the Park and one for the entrance

Then there are other frills to look for.

LEGAL CHECKS. : All of these would have been done by a lawyer for ONE Client.
When you are asking for the same document, they just charge you and everybody
and it is GRAVY for them. They will charge you the same amount as they did to
the first inquirer.

LEGAL DOCUMENTS and its format. It is from a web site called VAKIL.COM.

http://www.vakilno1.com/ Please look under Legal Documents for the list
as provided below. Also can see the format of the document when you click on the forms.
xxx
http://www.wecareinvest.com/nri/buy-property-india-canada/

Affidavits
Agreement
Arbitration
Company Law
Bonds
Compromise & Family
Settlements
Foreign Collaboration
Gift
Hire Purchase
Indemnity
Income Tax
Lease & License & Lease financing
Mortgage & Pledge
Notices
Partition
Partnership
Power of Attorney
Service Tax
Sale
Wealth Tax
WILL

xxx

This should get you started and after reading please post your queries underneath this and get all of the answers to them from who so ever is knowledgeable in this subject matter.

FH.

xx

Quote:

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Originally posted by Bingo

So what implications one should be aware of before venturing into such a project ?
Are we allowed to do so, if so is it complicated ? Any of your experiences r welcome .

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Wow - Dear FH, if there is any award for the person giving best and detailed reply, it should go to you!

Besides the detailed reply from FH, I am really hesitant to add anything to it, but also consider the consequences on Canadian side law. You may have to include/show it on your income tax return based on the use of the property. If there is any income (rental income etc) from the property, you may have to include it. Better you consult any accountant on this topic. There is a strong possibility that FH will cover it in next chapter :-).

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A Delhite in Toronto