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Outside India (foreign national) is regulated in terms of section 6 (3) (i) of the Foreign Exchange Management Act (FEMA), 1999 as well as by the regulations contained in the Notification No. FEMA 21/2000-RB dated May 3, 2000, as amended from time to time. Section 2 (v) and Section 2 (w) of FEMA, 1999 defines person resident in India' and a person resident outside India', respectively. Person resident outside India is categorized as Non- Resident Indian (NRI) or a foreign national of Indian O.

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With RBIs relaxed norms, a NRI can invest or acquire a gift of any number of immovable residential and commercial properties in India. He/ she can also acquire plots of land, pre-launch properties, ready for possession properties and under-construction properties.

Immovable property situated in India Agricultural land/farmhouse/plantation property is not permitted. Gifting of residential and commercial property is permitted for relatives only.

NRI Guide to Buy Property in India Both NRIs and OCI have the permission to buy both commercial and residential property in India. You do not need to submit any intimation or send any communication to the Central Bank for the purchase of a property. NRIs cannot buy agricultural land, plantation or farmhouses in India.

Other than this, an NRI can buy as many properties in India as he/she wishes. However, if an NRI cannot visit India to purchase the property, an individual with valid power of attorney will have to do so in behalf of that NRI. NRIs can own any number of properties in India as he/she wants to.

In terms of sub-section 4, of Section (6) of the Foreign Exchange Management Act, 1999, a person resident in India is free to hold, own, transfer or invest in foreign currency, foreign security or any immovable property situated outside India if such currency, security or property was acquired, held or owned by such ...

Foreign nationals, regardless of residency, cannot buy property in India unless they meet the residency requirement of 182 days in a financial year. It is illegal for them to own property in India or to purchase property on a tourist visa. Our Indian lawyers will explain more about the eligibility criteria.

If you have: Purchased the property with foreign currency or using your Non-Resident External (NRE)/Foreign Currency Non-Resident (FCNR (B)) accounts you can repatriate the entire sale proceeds of the immovable property.

Tax Advantages for NRIs: Tax advantages are identical to those enjoyed by any Indian citizen. NRIs are entitled to the same tax advantages as Indian citizens. NRIs must pay a 1% withholding tax if they purchase a property worth more than Rs 50 lakh.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232