Recently, my cousin asked me: can green card holder buy property in India? As I had not much idea about this, I asked my lawyer friend. She said yes, a green card holder can buy property in India. With the exception of farmland, plantation property, and farmhouses, an NRI is permitted to own any type of residential or commercial real estate in India. I have shared more details with you below.
Is It Allowed for Green Card Holders to Buy Indian Property?
Yes. However, my friend said, there are certain conditions and restrictions.
If a green card holder is still an Indian citizen, they can buy property in India without restrictions, as they are a resident under Indian law.
Indian nationals residing overseas, or NRIs, can buy residential or commercial real estate in India without first obtaining Reserve Bank of India (RBI) approval. They are unable to purchase farmhouses, plantation property, or agricultural land, nevertheless, unless they are inherited or given as gifts.
Payments can be made using funds remitted to India via normal banking channels or through funds in an NRE (Non-Resident External), NRO (Non-Resident Ordinary), or FCNR (Foreign Currency Non-Resident) account.
If you are a green card holder, you should ensure the property\'s title is clear from legal disputes. I hope you found this helpful.
Get End to End Assistance in Property Buying in India Via NoBroker NRI Services
Read more
Can a foreigner buy property in India? Check here to know how.
Your Feedback Matters! How was this Answer?
Shifting, House?
✔
Lowest Price Quote✔
Safe Relocation✔
Professional Labour✔
Timely Pickup & DeliveryIntercity Shifting-Upto 25% Off
Check Prices
Intracity Shifting-Upto 25% Off
Check Prices
City Tempo-Upto 50% Off
Book Now
I will discuss ‘can green card holder buy property in India’ but before this, I will explain who is a green card holder in India. People residing in the USA who are originally from India can be considered green card holders. A green card holder is also known as an ‘immigrant’ or ‘permanent resident alien’.
Wish to buy a property free of brokerage? Check out properties at NoBroker! For NRI Property Management check out the services provided by NoBroker.Can green card holder buy agricultural land India?
The answer to the question ‘can green card holders buy property in India’ is Yes! According to the Foreign Exchange and Management Act (FEMA) green card holders can invest in Indian property.
Now, the question arises if a green card holder can invest in agricultural land. Since NRIs are not considered green card holders, can they buy agricultural land? The answer would be no! Green card holders can only invest in residential and commercial property. But green card holders cannot invest in other types of land such as agricultural land, plantation land, or farmhouses.
What documents does a green card holder need to buy a property?Documents required to buy property in India include:
Address proof
Passport
Passport size photograph
PAN card
As a green card holder, you can secure home loans in India. You should have a trustworthy Power of Attorney (PoA) who can present a copy of the PoA to the authorities. A green card holder should also pay taxes, registration fees, post-purchase taxes, and GST like every Indian. You can also earn rental income from the property you have purchased in India as a green card holder.
I hope this clears your doubt about can green card holder buy property in India.
Read more:
Can NRI keep fixed deposit in India? What is an OCI card? How long OCI card holder can stay in India? How do you apply for Aadhaar Card as a foreign national with an OCI card?Your Feedback Matters! How was this Answer?
Shifting, House?
✔
Lowest Price Quote✔
Safe Relocation✔
Professional Labour✔
Timely Pickup & DeliveryIntercity Shifting-Upto 25% Off
Check Prices
Intracity Shifting-Upto 25% Off
Check Prices
City Tempo-Upto 50% Off
Book Now
Related Questions
Most Viewed Questions
Recently Published Questions
Authors Of The Question
Recently Answered Questions
34 Total Answers
Can green card holder buy property in India?
Siddharth
1068 Views
2 Answers
2 Year
2022-09-04T23:59:56+00:00 2025-01-22T13:36:26+00:00Comment
Share