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We have a dedicated team of Associates for NRI customers as they have unique set of queries/questions when buying property. The team is trained on RBI laws as well as other legal aspects of NRIs buying property in India. They bring along substantial experience of consulting NRI customers on property purchase in India. We help you with a reliable, transparent and hassle free transaction and ensure that your money is safe and is in right hands.

» Am I a NRI?
Under the Foreign Exchange Regulation Act of 1973, Non-Resident Indians are:

  • Indian citizens wh o stay abroad for employment or carrying on business or vocation outside India or for any other purpose in circumstances indicating an indefinite period of stay abroad; OR
  • Government servants who are posted abroad on duty with the Indian missions and similar other agencies set up abroad by the Government of India where the officials draw their salaries out of Government resources; OR
  • Government servants deputed abroad on assignments with foreign Governments or regional/international agencies like the World Bank, International Monetary Fund (IMF), World Health Organisation (WHO), Economic and Social Commission for Asia and the Pacific (ESCAP) OR
  • Officials of the State Government and Public Sector Undertakings deputed abroad on temporary assignments or posted to their branches or offices abroad.
» Who is a foreign citizen of Indian Origin?
A foreign citizen is deemed to be of Indian Origin if : i) he held an Indian Passport at any time or ii) he or his father or paternal grand father was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955. However this does not apply to citizens of Pakistan, Bangladesh, Afghanistan, Bhutan, Sri Lanka or Nepal

» What is the difference between carpet area, built-up and super built-up area?
The area of an apartment or building, not inclusive of the area of the walls is known as carpet area. This is the area that is actually used and in which a carpet can be laid. When the area of the walls including the balcony is calculated along with the carpet area, it is known as built-up area. The built-up area along with the area under common spaces like lobby, lifts, stairs, garden and swimming pool is called super built-up area.
» What should a buyer keep in mind while purchasing a residential flat?
Some of the factors to consider while purchasing a flat are:
  • Locality i.e. transport, schools, hospitals, market, business district, entertainment centres, hotels, restaurants, pollution levels
  • Quoted area of the flat i.e. Carpet, Built Up Area and super Built Up Area
  • Car parking space
  • Quality of construction
  • Reputation of the builder or seller
  • Sufficient water and electric supply, other utilities
  • Cost components : price, stamp duty, registration charges, transfer fees, monthly outgoings and society charges, costs of utilities
  • Potential for resale or renting out of the property
  • Any other distinguishing features or advantages of the property
» Checklist for buying a residential property?
  • Market Trends about prevalent rates of property in the vicinity and last known transactions
  • Ask for photocopies of the all deeds of title related to the property to be purchased. Examine the deeds to establish the ownership of the property by seller, preferably through an advocate. Ascertain the survey number, village and registration district of the property as these details are required for registration of the sale. Previous encumbrances and loans, if any on the property must be cleared before completion of purchase of the property. The title of the Vendor to the property must be clear and marketable.
  • Check for approved layout plan and approved building plan with number of floors
  • Clearance from Municipality, Electricity, Water, Pollution, Lift authorities
  • Check the building bye-laws in that area to verify any issue with setback, side setback, height, etc
  • Confirm transfer fees, stamp duty and registration charges to be paid on purchase of the property as well as outgoings to be paid for the property i.e. property tax, water and electricity charges, society charges, maintenance charges
» Do NRI's require permission of Reserve Bank to acquire immovable property in India?
No. NRI's do not require any permission to acquire any immovable property in India other than agricultural / plantation property or a farm house. Refer to the table below for a comprehensive list of transactions possible.

NRI PIO Resident Note
Buy Property From Yes Yes Yes For NRI
Sell Property To Yes Yes Yes
Receive Gift From Yes Yes Yes
Give Gift To Yes Yes Yes
Agricultural Property
Purchase Property From No No No
Sell Property To No No Yes
Receive Gift From No No No
Give Gift To No No Yes
Buy Property From Yes Yes Yes For PIO
Sell Property To No No Yes
Receive Gift From Yes Yes Yes
Give Gift To Yes Yes Yes
Agricultural Property
Purchase Property From No No No
Sell Property To No No Yes
Receive Gift From No No No
Give Gift To No No Yes

» In what manner the purchase consideration for the immovable property should be paid under the general permission?
The purchase consideration should be met either out of inward remittances in foreign exchange through normal banking channels or out of funds from any non resident accounts maintained with banks in India.

» Is there any restriction on the number of residential properties that may be purchased by an NRI?
There are no restrictions on the number of residential properties that may be bought by an NRI. However, repatriation is allowed only in respect of two such properties.

» What are the guidelines for acquisition of agricultural land / plantation property / farmhouse by NRIs and foreign citizens of Indian origin?
All requests for acquisition of agricultural land / plantation property / farm house by any person resident outside India may be made to The Chief General Manager, Reserve Bank of India, Central Office, Exchange Control Department, Foreign Investment Division (III), Mumbai 400 001.
» Can such propery be sold without the permission of Reserve Bank?
Reserve Bank has granted general permission for sale of such property. However, where another foreign citizen of Indian origin purchases the property, funds towards the purchase consideration should either be remitted to India or paid out of balances in non-resident accounts maintained with banks in India.

» Can sale proceeds of such property if and when sold be remitted out of India?
In the event of sale of immovable property other than agricultural land/farm house/plantation property in India by a NRI or PIO, the authorized dealer may allow repatriation of the sale proceeds outside India, provided all the following conditions are satisfied: -
  • In the event of sale of immovable property other than agricultural land/farm house/plantation property in India by a NRI or PIO, the authorized dealer may allow repatriation of the sale proceeds outside India, provided all the following conditions are satisfied: -
  • NRIs/PIOs can effect remittance of sale proceeds of immovable property in India irrespective of the period for which the property was held. The sale proceeds allowed to be repatriated should, however, not exceed the foreign exchange brought in to acquire the said property.
  • In case of residential property, the repatriation of sale proceeds is restricted to not more than two such properties, if the property was purchased from funds held in NRE Account.
  • The amount sought to be repatriated abroad should not exceed the amount paid for acquisition of the immovable property in the foreign exchange received through normal banking channels or out of funds held in FCNR or NRE Account. In case of investment out of NRE Account the amount to be calculated as foreign currency is equivalent value as on the date of payment for acquisition of the said property.



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