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How to get valuation of assets from India   Shreyas   04/14/2018 08:17 PM  

Hello,

I need to get valuation of my immovable assets from India for immigration purposes. How do I do it, so that the US immigration accept it?

Do I convert the property rate to US dollars based on today's exchange rate? and visit an engineer to get the property rate?

Thanks

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Re: How to get valuation of assets from India   sk   04/14/2018 08:43 PM  

Please be specific about what kind of immigration process is this. You can get a valuation report from a CPA Accountant in India.

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Re: Re: How to get valuation of assets from India   Shreyas   04/14/2018 10:19 PM  

It's for green card. My wife is a citizen but she started working in October last year, so her tax returns doesn't meet the minimum requirement. My lawyer was asking if I had any assets. I do have some assets in India worth Rs 1 crore which can be converted to roughly around $150,000.

The problem is the property is on my mom's, my sister's and my name. The lawyer asked me to show property worth $75,000. So I am not sure what can be done in this case. I have more properties but it's all under my mother's name.

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Re: Re: Re: How to get valuation of assets from India   sk   04/15/2018 06:09 AM  

You can register those properties as a gift to you from your mother and it wont attract indian tax nor stamp duty . The total cost of registration to your name will be less than 200 dollars.

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Re: Re: Re: Re: How to get valuation of assets from India   Shreyas   04/15/2018 07:33 AM  

Thanks SK for your help!

How do I do that? What is the procedure?

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Re: Re: Re: Re: Re: How to get valuation of assets from India   sk   04/15/2018 07:37 AM  

You have to contact any lawyer in India, he/she will draft the property gift deed and will help you to register the property. Both you and mother have to visit the Indian registrar office.

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Re: Re: Re: Re: Re: Re: How to get valuation of assets from India   Shreyas   04/15/2018 07:41 AM  

Got it! that's going to be a problem though, I can not leave the US.

May be the only option is to get power of attorney from my mom and my sister here in US. But still not sure if immigration officer will accept that as solely my property.

Anyways, really appreciate your help bro!!! Thanks

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Re: Re: Re: Re: Re: Re: How to get valuation of assets from India   Shreyas   04/15/2018 07:45 AM  

Btw what kind of valuation will the immigration accept?

Just a simple valuation of property by an approved government engineer, with his signature and stamp on it?

Also the city survey documents are in Gujarati, do I need to get it translated in India or can I do it here?



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