NRI Section

NRI buying property in India involves legal compliance, strategic planning, and understanding tax implications. The process offers diverse property options, excellent potential for high returns, and simplified buying procedures. With India’s economy on an upward trajectory, an increasing number of NRIs in their 30s and 40s are setting their sights on the India’s promising real estate landscape. This shift is not solely about reconnecting with cultural roots; it is also a strategic move toward a secure, long-term investment.

This evolving trend of NRI buying property in India is driven by a complex mix of emotional ties, financial growth, and the aspiration for a stable future. For many NRIs, buying property in India is more than just an asset – it is a step towards safeguarding their wealth while planning for the future.
With a team of diligent and proficient associates, we maneuver you through the whole process of identifying, short listing, negotiating and finally owning real estate premises as per your requisition. In all, Satyamev Group covers the whole spectrum of property purchase expertly and efficiently. The real estate sector has become the preferred choice for most of the foreign investors. Indian real estate industry is witnessing a surge in the NRI and PIO (Person of Indian Origin) investments. This is due to the fact that real estate companies in India are not only matching, but surpassing the standards of quality and value found abroad. Moreover, NRIs want to make the most of the opportunities offered by the growing real estate market in India.

NRI FAQs

Who is a non-resident Indian (NRI)?
An Indian Citizen who stays abroad for employment/carrying on business or vocation outside India or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a non-resident. (Persons posted in U.N. organisations and officials deputed abroad by Central/State Governments and Public Sector undertakings on temporary assignments are also treated as non-residents). Non-resident foreign citizens of Indian Origin are treated on par with non-resident Indian citizens (NRIs) for the purpose of certain facilities.

A person who is not a citizen of India is deemed to be of Indian origin if he is not a citizen of Pakistan or Bangladesh and if • he at any time held an Indian passport; or •he or either of his parents or any of his grandparents was a citizen of India by virtue of the Constitution of India or Citizenship Act, 1955. A spouse (not being a citizen of Pakistan or Bangladesh) of an Indian citizen or of a Person of Indian Origin is also treated as a Person of Indian Origin for the purpose of NRI deposits if the accounts are held jointly with the NRI/PIO spouse. PIOs are extended the same facilities for bank account maintenance in India as NRIs and are also, for such purposes, called by the generic name as NRIs.

No permission is required by non-resident Indian nationals to acquire immovable property in India.

Yes, foreign nationals of Indian origin, whether resident in India or abroad, have been granted general permission to purchase immovable property in India. However, this general permission is only available for the purchase of immovable property in India for their bonafide residential purpose.

Yes, foreign nationals of Indian origin, whether resident in India or abroad, have been granted general permission to purchase immovable property in India. However, this general permission is only available for the purchase of immovable property in India for their bonafide residential purpose.

Yes. The Reserve Bank of India has granted general permission for sale of such property. However, where the property is purchased by another foreign citizen of Indian origin, funds towards the purchase consideration should either be remitted to India or paid out of balances in NRE/FCNR accounts.

Yes. The Reserve Bank of India has granted general permission for sale of such property. However, where the property is purchased by another foreign citizen of Indian origin, funds towards the purchase consideration should either be remitted to India or paid out of balances in NRE/FCNR accounts.

Yes. Under the general permission granted by Reserve Bank properties other than agricultural land/farm house/plantation property can be acquired by foreign citizens of Indian origin provided the purchase consideration is met either out of inward remittances in foreign exchange through normal banking channels or out of funds from the purchasers’ NRE/FCNR accounts maintained with banks in India and a declaration is submitted to the Central Office of Reserve Bank in form IPI 7 within a period of 90 days from the date of purchase of the property/final payment of purchase consideration.

Yes. The Reserve Bank of India has granted general permission for letting out any immovable property in India. The rental income or proceeds of any investment of such income has to be credited to NRO account.