NRIs and OCI cardholders can buy residential and commercial property in India without special RBI permission, but not agricultural land, plantation property or a farmhouse. Payment must go through proper banking channels, and rules on repatriation and tax apply.
What you can buy
Residential and commercial property is open to NRIs and OCI cardholders. Agricultural land, plantation property and farmhouses are not, unless specifically permitted.
How to pay
Pay through inward remittance or from an NRE, NRO or FCNR account. Cash is not allowed. Keep bank proof of every payment.
Repatriation and tax
Sale proceeds can be repatriated within RBI limits and conditions, and tax is deducted on the sale of property by NRIs, often at a higher rate. Get your bank and an accountant to confirm the current position before you buy or sell.
Doing it from abroad
You can give a power of attorney to a trusted person to sign documents, but it must be drafted and attested correctly. We help NRI clients with virtual visits, verification and coordination with lawyers and banks.
Questions people ask
Can NRIs take a home loan in India?
Can an NRI rent out the property?
Want this checked for your property?
Send us the project name, location and your budget on WhatsApp. We will tell you what to verify before you pay anything.
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