Virat Kohli, who is a star cricketer has been reported to have given a General Power of Attorney (GPA) of his bungalow in DLF City Phase 1, Gurugram to his elder brother Vikas Kohli. The real estate is approximated to be 80 crore. The relocation is said to ease the administrative and legalities of the situation more so because Virat and his family are living out of the country.
Virat Kohli And Anushka Sharma Moving To London Permanently?
According to reports, the official handing over of the GPA occurred on October 14 at the Tehsil level of Wazirabad, Gurugram. In addition to the signature of the paperwork, Virat also took photos and provided autographs to the tehsil employees. It seems that the reason is the need to circumvent the procedural challenges and delays that may arise when the owners are not physically present in India in each transaction. To transfer the title i.e. the title deed full ownership will however require a sale deed or formal transfer of the title. Getting a GPA does not automatically transfer the title to the property, it just allows anyone to have the property dealt with and traded by having a lawyer.
Virat Kohli And Anushka Sharma’s London Life
This is very normal with Indians living overseas or travelling frequently, the use of GPAs eliminates the time wastage, continuity in property management, and elimination of physical attendance by the owner. The change of place to London, accompanied by his wife Anushka Sharma and their children, may be one factor that contributes to the decision made by Virat. He is supposed to be back by October 19 to attend the series of India Australia ODIs. Overall, Virat is a legal owner, however, Vikas is now empowered to represent Virat in any property related to the Gurugram bungalow. Such procedural change instead of direct sale or title transfer can be efficient to the family because of their existing international engagements.
