NRI Investment

NRI Investment Guide & Process

Who can purchase property in India?

Under the general permission available, the following categories can freely purchase immovable property in India:

  • Non-Resident Indian (NRI) – that is a citizen of India resident outside India
  • Person of Indian Origin (PIO)

Can NRIs and Overseas Corporate Bodies (OCB) Invest 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.

Can NRI Obtain Loans For Purpose Of Acquiring A Residential Or Commercial Property In India?

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.

Can NRI’s sell the properties they hold in India without the reserve Bank’s Permission?

Yes, Reserve Bank has granted general permission for the sale of such property.

While purchasing real estate most developers demand a Power of Attorney in their favor, is there a way to avoid it?

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.

How much loan can one get?

You can get a Home Loan of up to 85% of the Total Consideration Value.