NRI Corner



NRI

NRI Corner

Building Projects that attract assured value from the point we begin them.
Our Moto of Grow With Us focuses on building projects that stay valuable for the foreseeable future

Frequently Asked Questions

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-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).

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

Yes, under the general permission granted by the Reserve Bank, property other than agricultural land/farm house/plantation property can be acquired by NRIs provided the purchase consideration is met either out of inward remittances in foreign exchange through normal banking channels or out of funds from the purchaser's 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.
The following is the list (non-exhaustive) of documents required for NRIs to buy property in India:

  • PAN card (Permanent account number)
  • OCI / PIO card (In case of OCI / PIO)
  • Passport (In case of NRI)
  • Passport size photographs
  • Address proof
There is no restriction on the number of residential or commercial properties an NRI can own in India. However the law restricts NRIs from purchasing any kind of agricultural land/ plantation property/ farm house in India.