The
RBI guidelines for NRI buying property in India
has certain regulations.
NRIs are allowed to buy residential and commercial properties in India. Agricultural land, plantation property, and farmhouse properties have restrictions for buying.
NRIs can fund the property purchase through funds in their Non-Resident External (NRE) or Non-Resident Ordinary (NRO) accounts in Indian banks.
They are also eligible to apply for home loans to finance the property purchase. The loan amount, however, is subject to certain conditions, and the repayment must be made in Indian rupees.
They are allowed to repatriate the sale proceeds of immovable property in India. It includes any capital gains, subject to certain conditions and within the limits set by the RBI.
They can also give a Power of Attorney to a person to manage the property on their behalf.
NRIs are subject to tax implications in India for the income generated from the property, as well as for the capital gains realized upon the sale of the property.
These are the several
RBI guidelines for NRI buying property in India.
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Authors Of The Question
RBI Guidelines for NRI Buying Property in India?
Anjali Yadav
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1 Answers
1 Year
2023-12-22T16:46:44+00:00 2023-12-22T16:46:45+00:00Comment
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