Under the general permission available, the following categories can freely purchase immovable property in India:
NRIs and OCBs can make investments in India with regards to the Indian law, RBI rules & regulations as well as other sets of laws presented by the Foreign Investment Promotion Board (FIPB).
Also, these days in a bid to make home-buying easier, the financial institutions offer lucrative deals with a minimum of 10% upfront payment.
The Reserve Bank has granted some general permission to certain financial institutions providing housing finance e.g. LIC Housing Finance Ltd., HDFC, etc., and authorized dealers to grant housing loans to NRI nationals for acquisition of an NRI house/flat for self-occupation subject to certain conditions. Reimbursement of the loan should be made within a period not exceeding 15 years.
Yes, Reserve Bank has granted general permission for the sale of such property.
One can choose not to grant the Power of Attorney (POA) to the developers. However, this will mandate the mailing of all documents to your foreign residence.
You can get a Home Loan of up to 85% of the Total Consideration Value.