You need a special PoA with the exact real estate address mentioned to make it valid for managing bank loans, rental management, possession of the flat, registration of real estate in the Indian registrar’s office, and another purpose.
You can also choose to make a general power of attorney if you want to use it for multiple properties.
Create Indian Power of Attorney Online >
Indian stamp paper is not required for writing power of attorney.
You can print or write power of attorney on plain A4 sheet of paper.
A general power of attorney is a generic version that does not mention the specific flat/apartment details as compared to a Special attorney which has exact details of the property to be managed.
General POA contains terms and conditions to share the signing authority for general purposes like management of bank account, shareholding accounts, rent acceptance for multiple properties, etc.
Use Special Power of Attorney For Home Loan in India
An NRI (non-resident Indian) can use the special power of attorney to buy, sell, or take possession of a real estate property in India.
The same POA can be used for managing home loans in India by a member of the family. Your POA holder can make payments for home loans like SBI Maxgain, HDFC, ICICI, and other banks.
Note that you will need to get the POA attested by the Indian embassy before registering it in India.
The process for attesting Indian Power of attorney in the USA is shared here.