Experience The NoBrokerHood Difference!

Set up a demo for the entire community

Thank You For Submitting The Form
Home / NRI / What kind of property can NRI buy in India?
Q.

What kind of property can NRI buy in India?

view 631Views

4 Year

Comment

4 Answers

Send
0 2021-10-25T21:04:03+00:00
⤺ Reply
Many NRIs have questions like which type of properties NRI can buy India and which type of properties NRI can purchase in India. For an NRI to buy property in India, there is no eligibility condition. However, if she intends to take out a home loan, she would be examined on all relevant parts of the transaction. A NRE/NRO or FCNR bank account will be required by FEMA and RBI for the transmission of money. NRIs are allowed to buy as many commercial properties as she wants, but they are limited to two residential ones. For agricultural land/plantation property/farm houses in India, NRIS must first secure government and RBI approval. An NRI can only own such property if he or she inherits it or receives it as a gift. I have tried my best to answer the questions like what kind of property can NRI buy in India and properties NRI can buy in India, above.

Shifting, House?

✔

Lowest Price Quote

✔

Safe Relocation

✔

Professional Labour

✔

Timely Pickup & Delivery
inline_cards

Intercity Shifting-Upto 25% Off

Check Prices

inline_cards

Intracity Shifting-Upto 25% Off

Check Prices

inline_cards

City Tempo-Upto 50% Off

Book Now

0 2021-10-25T21:01:20+00:00
⤺ Reply
You may have questions in mind like which type of properties NRI can buy India or which type of properties NRI can purchase in India. An NRI or PIO can purchase as many residential or commercial properties as they want under the current general permissions. The tax code also permits NRI/PIOs to own an unlimited number of residential and commercial properties. A legitimate power of attorney can be provided by any NRI who is unable to come to India to complete the purchase documents if the NRI cannot come. An NRI is prohibited from purchasing agricultural land or plantation property in India under the RBI's general authorisation. As a result, NRIs cannot buy a farmhouse in India under current restrictions. The RBI will evaluate this on a case-by-case basis, therefore if an NRI wants to buy a farmhouse or plantation, he/she must apply for a specific authorization. I think, now your queries like what kind of property can NRI buy in India and Properties NRI can buy in India, are resolved now.

Shifting, House?

✔

Lowest Price Quote

✔

Safe Relocation

✔

Professional Labour

✔

Timely Pickup & Delivery
inline_cards

Intercity Shifting-Upto 25% Off

Check Prices

inline_cards

Intracity Shifting-Upto 25% Off

Check Prices

inline_cards

City Tempo-Upto 50% Off

Book Now

0 2021-09-29T17:48:38+00:00
⤺ Reply

In this answer, I will explain what kind of property can NRI buy in India. RBI has allowed NRIs to buy any commercial or residential properties in India. Investors don’t have to seek permission from the Reserve Bank of India, nor are they required to send any intimation or communication in this regard to the RBI. NRIs can buy any number of commercial or residential properties under the current general permissions. Moreover, the income tax laws let NRIs own as many commercial or residential properties as they please. These are the properties NRI can buy in India.

If an NRI can’t visit India, then any person, who is given a valid power of attorney, can execute the documents relevant to the purchase. As per the general permission of RBI, NRIs are not permitted to buy any plantation property or agricultural land in India. Similarly, NRIs are not permitted to buy farmhouses in India, under the existing regulations. In case an NRI wants to buy a plantation or farmhouse, then he will be required to approach the Reserve Bank of India for specific permission. The Reserve Bank of India will consider the request on a case-to-case basis.

Now that you know which type of properties NRIs can buy India, I suggest you use NoBroker in case you are planning to buy any residential or commercial property. They will help you with renting/buying/selling your properties as well as online rental agreement, end-to-end property management, document assistance, etc.

Buy a Residential or Commercial Property Easily using NoBroker’s NRI Services Read whether NRIs can buy agricultural land in India or not Find out how NRIs can buy properties in India?

I hope it cleared all your doubts regarding which type of properties NRI can purchase in India.

Shifting, House?

✔

Lowest Price Quote

✔

Safe Relocation

✔

Professional Labour

✔

Timely Pickup & Delivery
inline_cards

Intercity Shifting-Upto 25% Off

Check Prices

inline_cards

Intracity Shifting-Upto 25% Off

Check Prices

inline_cards

City Tempo-Upto 50% Off

Book Now

-1 2020-11-13T13:21:26+00:00
⤺ Reply
NRIs and OCCs are permitted to buy immovable property in India other than agricultural land, farmhouses or plantations. Non-residents can purchase residential as well as commercial property. Please note that the money used for buying property should be received by way of inward remittances or held in a non-resident account. Foreign nationals (married to NRIs or OCCs) can acquire one immovable property jointly with their spouse. Citizens of 11 countries will need a permission from the RBI to acquire or transfer their property irrespective of their residential status. Countries being: Afghanistan, Bhutan, Bangladesh, China, Hong Kong, Iran, Korea, Macau, Nepal, Pakistan and Sri Lanka.

Shifting, House?

✔

Lowest Price Quote

✔

Safe Relocation

✔

Professional Labour

✔

Timely Pickup & Delivery
inline_cards

Intercity Shifting-Upto 25% Off

Check Prices

inline_cards

Intracity Shifting-Upto 25% Off

Check Prices

inline_cards

City Tempo-Upto 50% Off

Book Now

Most Viewed Questions

How to Register Mobile Number in Indane Gas?How to apply for second cylinder in Indane gas online?How to know my consumer ID number?Why water tanks are placed on high towers?How to delete NoBroker account?घर के नाम संस्कृत मेंDelete my accountHow did NoBroker become a Unicorn?How to check if gas cylinder is leaking?How to fix yellow flame on gas burner?See All

Recently Published Questions

Wood Polishing Needed, How to Get it?Ration Card se Kisi Ka Naam Kaise Hataye?How Many Days Will it Take for My Property Assessment?How to Clean Sink Strainer?How to Remove Black Sludge from Bathroom Sink?How to Clean Stainless Steel Dishwasher Front?What is the Kohler Modular Kitchen Price?What is Water Meter Cost Installation?What is the Average Monthly Home Maintenance cost?How to Cover Chimney Pipe in Modular Kitchen?See All

Authors Of The Question

profile
Diya

0 Total Answers


0


profile

Recently Answered Questions

I need loan Can you please help me to register on NoBroker as a service provider. I'm from Hyderabad. Current rent in chakan xrbia effiel city? What all amenities are present in Sobha Windsor? Which gated communities have flats for sale in Manikonda? What are the property rates in Secunderabad? Which localities have resale properties in Secunderabad? How to get 90 years old land registration document in ap I'm planning to buy a flat. Please suggest good gated community in Uppal Hyderabad, my budget is 50 lakhs. How to Buy Property in Bank Auction?
profile
Aman

0 Total Answers


0


profile

Recently Answered Questions

Do you paint ceiling or walls first? How much Area does 2.5 Litres of Paint Cover? घर में सांप निकलना शुभ है या अशुभ? What are the Survey no. 1682545 details Who issues the Encumbrance Certificate? मकान बेचने के लिए विज्ञापन कैसे लिखें? How to pay MNGL gas bill online? I want to get my salary slip ,I worked at greenpark hotel in 2014 ATM shop for rent Can we put radha krishna photo in bedroom ?
profile
Anushka

0 Total Answers


0


profile

Recently Answered Questions

What kind of property can NRI buy in India?
Flat 25% off on Home Painting
Top Quality Paints | Best Prices | Experienced Partners