Contemplating a second home in India? A holiday home? Or a retirement home perhaps? Whatever the reason you wish to buy property in India, we have the expertise and the domain knowledge to make it a smooth and easy process.
Rest assured that you'll be making a great investment decision. Property is a great vehicle for investment as it is giving nearly --- returns over ----. years. A far less volatile risk than the stock market where you could get badly burned! In fact, there's never been a better time to buy a home in India. Prices are looking up, a wider range of options is available and newer economic policies combined with technology are making the process of buying in India easier than ever before.
RBI guidelines to NRI's
PERMISSION FOR PURCHASE OF RESIDENTIAL PROPERTY / COMMERCIAL PROPERTY.
- NRI's holding Indian passports - No permission required
- NRI's holding foreign passports - Intimation to RBI via form
IPI - 7 within 90 days of purchase of property or final payment of consideration.
Funds through NRE/NRO accounts.
SALE OF PROPERTY
- Property held by NRIs in India can be sold. No permission is required from the Reserve Bank of India.
REPATRIATION OF SALE PROCEEDS
- Repatriation of proceeds from sale of residential property purchased on or after 26th May 1993 is allowed.
- The RBI will consider repatriation of the consideration amount remitted in foreign exchange for the acquisition of 2 properties. The sale has to have taken place after 3 years from the date of final purchase deed or from the date of final payment.
- Application of repatriation (IPI-8) has to be done within 90 days of the sale of the property.
INCOME FROM PROPERTY
- NRIs can let out immovable property in India. The rental income from the investment has to be credited to the NRO account.
- Subject to changes from time to time
- E. & O.E.
If you have queries in your mind
contact us. We'll respond promptly to resolve all your doubts!
Also see
FAQs about NRI's
