NRIs are allowed to purchase residential and commercial properties in India without any restrictions. They can buy immovable property in India through various channels, including the Reserve Bank of India's general permission scheme or by way of inheritance. NRIs can also avail home loans in India to finance their property purchase.
Read moreReplied by Shilpa Goel On 4/7/2023
RBI allows NRIs to sell a property to a Resident Indian without restrictions. However, RBI approval is necessary to sell the property to an NRI or Person of Indian Origin...
Replied by Ranjita Chandra On 5/7/2023
NRIs can sell real estate in India without RBI approval, provided the property has been owned for at least two years, the sale earnings are credited to an NRO account...
Replied by Hanita Bhatt On 4/7/2023
Absolutely, when buying residential or commercial ready-to-move-in or under-construction real estate in India, NRI purchasers must pay the same amount of GST as any other buyer. However, the GST rat...
Replied by Purnima Apte On 5/7/2023
NRIs in India can inherit property from their forefathers or other family members, but the type of property, the decedent will, and legal heirs can affect the inheritance process. Therefore...
Replied by Maheshwar Gandhi On 4/7/2023
The purchase of a home in India with an NRI must comply with all applicable laws and FEMA rules. The NRI can finance their portion through an NRE or NR...
Replied by Gathika Dhar On 6/7/2023
Scams involving the selling of property by NRIs in India have been reported. These include falsified paperwork, phoney powers of solicitor, and misrepresentations made by the seller or estate agent...
Replied by Kanchan Chauhan On 5/7/2023
NRIs can purchase real estate in India from overseas by designating a power of solicitor (POA) in India. This POA can be a relative or a solicitor who will tak...
Replied by Firaki Naidu On 6/7/2023
NRIs are purchasing real estate in India for a variety of reasons, such as large returns on investment, a permanent domicile, and a sense of emotional and cultural connection t...
Replied by shrikumar Sharma On 3/7/2023
Before purchasing real estate in India, NRIs should take a number of variables into account, including the property location, nature, price, compliance with laws and regulations, market circumstances, and ta...
Replied by Rajini Ganguly On 6/7/2023
NRIs or PIOs (Persons of Indian Origin) cannot purchase real estate in India in a combined transaction with foreign nationals. According to Indian law, a foreign national may only ge...
