How do I work out the cost amount of a property I inherited?

It has to be established from evidence rather than estimated. We reconstruct the value at the relevant date using the official rate position for that year and registered transactions of that period. The report shows the working, so your accountant can rely on it.

Does a property I keep for family use need reporting?

Personal use property is treated differently from investment property under the Canadian rules, and the distinction genuinely matters. Confirm your position with your Canadian accountant. If it turns out you need a value, we can provide one at any date required.

I am selling and will be taxed in both countries.

India generally taxes property situated in India first, and relief for the Canadian side normally comes through the treaty and a foreign tax credit. That relief is not automatic and has to be claimed correctly, so give your accountant the Indian paperwork early. The valuation is what the Indian computation rests on.

For NRIs in Canada: Valuing Your Indian Property

You live in Canada and own property in India. You may be selling, sorting out an inheritance, or answering an accountant who has asked what the property costs for a CRA form. The starting point is the same in each case: a defensible number backed by a real inspection.

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How we work with owners abroad

The mechanics are the same wherever you live. One person in India gives our engineer access. We inspect and photograph, with the date and location recorded on every image, and the signed report reaches you by email in 48 to 72 hours. You do not travel. The full process, the power of attorney position and the questions every overseas owner asks are set out here.

The CRA form that catches Canadians out

Canadian residents have to report specified foreign property once the total cost amount goes above one hundred thousand Canadian dollars at any point in the year. Indian real estate held as an investment or rented out falls inside that. Property genuinely kept for personal use is treated differently.

The awkward part is the phrase cost amount. If you bought the property, that is documented. If you inherited it, there is no receipt, and the figure has to be established properly rather than guessed. That is a valuation question and it is exactly what we do.

Whether you must file, and what goes in which part of the form, is your Canadian accountant's call. Our job is to give them a number that stands up if anyone asks how it was reached.

The two country problem

Your Canadian filing usually needs a cost amount, which for inherited property has to be established rather than read off a document.

Why one property can need two valuations at two different dates, explained in full.

Questions from NRIs in Canada

How do I work out the cost amount of a property I inherited?: It has to be established from evidence rather than estimated. We reconstruct the value at the relevant date using the official rate position for that year and registered transactions of that period. The report shows the working, so your accountant can rely on it.
Does a property I keep for family use need reporting?: Personal use property is treated differently from investment property under the Canadian rules, and the distinction genuinely matters. Confirm your position with your Canadian accountant. If it turns out you need a value, we can provide one at any date required.
I am selling and will be taxed in both countries.: India generally taxes property situated in India first, and relief for the Canadian side normally comes through the treaty and a foreign tax credit. That relief is not automatic and has to be claimed correctly, so give your accountant the Indian paperwork early. The valuation is what the Indian computation rests on.

Checked by Parish Rao, Chartered Engineer and Government Approved Valuer (Registration number CAT-I/443/117/2000-01).

Page last checked on 7 October 2026.

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