Buyers Guide

Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs) can buy residential and commercial property in India. This guide summarises the main points. Rules change from time to time, so please confirm the current position with your bank or a qualified advisor before you commit.

What you can buy

• Residential apartments, villas and residential plots, and commercial property — with no limit on the number of properties.
• Agricultural land, plantation property and farmhouses cannot be bought by NRIs or OCIs (they may be inherited).

How to pay

• Payments must come through normal banking channels: an NRE, NRO or FCNR account in India, or an inward remittance from abroad.
• Payment in foreign currency notes or traveller’s cheques is not permitted.

Home loans

Most Indian banks and housing finance companies lend to NRIs, usually up to 75–80% of the property value depending on the loan size. You will typically need your passport and visa, overseas employment or income proof, bank statements and an Indian address for correspondence. EMIs are paid from an NRE or NRO account.

Documents you will need

• PAN card (mandatory for property transactions)
• Passport, and OCI card where applicable
• Overseas address proof and passport-size photographs
• A Power of Attorney, if someone in India will sign or register on your behalf — executed abroad before the Indian embassy or consulate, or notarised and apostilled, then adjudicated in India

Taxes to keep in mind

• Rental income from property in India is taxable in India.
• When an NRI sells property, the buyer deducts tax at source (TDS) on the capital gains; a lower-deduction certificate can be applied for.
• Sale proceeds can be repatriated within the limits set by the Reserve Bank of India, subject to the applicable taxes being paid.

How we help

Our team can arrange virtual walkthroughs, share documents digitally, coordinate with your bank for the loan and guide your representative through registration. Use the enquiry form and mention that you are an NRI buyer.