Easy and convenient buying:
Hassle Free transactions. All referrals are managed locally so there is no need for you to complete your transactions with an Indian affiliate or builder.
Send all documentation to developer’s offices in a timely fashion.
We work with the best developers in India, making sure there is complete transparency in your purchase.
Complete lifecycle management for your property from sales to management, leasing and resales
Exclusive Pre-launch Offers and Best per square feet rate.
Pre-negotiated deals that are better than those received by the general public.
Lowest Price guarantee.
Maximum year on year returns on your investments.
There are guidelines issued by the Reserve Bank of India for grant of housing loans to NRIs. The guidelines are:
The loan amount shall not exceed 85% of the cost of the housing unit.
Own contribution, which is the cost of housing unit financed less the loan amount, can be met from direct remittances from abroad only through normal banking channels, your Non-Resident (External) [NR (E)] Account and /or Non-Resident (Ordinary) [NR (O)] account and /or Non-Resident Special Rupee account [NRSR] in India.
Reimbursement of the loan, comprising of the principal and interest including all the charges are to be remitted from abroad only through normal banking channels, your Non-Resident (External) [NR (E)] Account and /or Non-Resident (Ordinary) [NR (O)] account and /or Non-Resident Special Rupee account [NRSR] in India.
Are NRI/PIO/OCI eligible for Housing loans to buy property from any Indian Bank?
An authorised dealer or a housing finance institution in India approved by the National Housing
Bank may provide housing loan to a non-resident Indian or a person of Indian origin residing
outside India. for acquisition of a residential accommodation in India, subject to the following
(a) the quantum of loans, margin money and the period of repayment shall be at par with
those applicable to housing finance provided to a person residing in India.
(b) the loan amount shall not be credited to Non-resident External (NRE)/Foreign Currency
Non-resident (FCNR)/Non-resident non-repatriable (NRNR) account of the borrower.
(c) the loan shall be fully secured by equitable mortgage by deposit of title deal of the property
proposed to be acquired, and if necessary, also be lien on the borrower’s other assets in
(d) the instalment of loan, interest and other charges, if any, shall be paid by the borrower
by remittances from outside India through normal banking channels or out of funds in
his Non-resident External (NRE)/Foreign Currency Non-resident (FCNR)/Non-resident
Non-repatriable (NRNR)/Non-resident Ordinary (NRO)/non-resident Special Rupee (NRSR)
account in India, or out of rental income derived from renting out the property acquired by
utilization of the loan or by any relative of the borrower in India by crediting the borrower’s
loan account through the bank account of such relative (The word ‘relative’ means ‘relative’
as defined in section 6 of the Companies Act, 1956.)
(e) the rate of interest on the loan shall conform to the directives issued by the Reserve Bank
of India or, as the case may be, the National Housing Bank.
Guidelines for NRI Process:
NRI/PIO/OCI Definition and general guidelines
Q1. Who is a NRI?
Non Resident Indian (NRI) is a citizen of India, 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. Non-resident foreign citizens
of Indian Origin are treated at par with Non Resident Indian (NRIs).
Q2. Who is a PIO?
Person of Indian Origin (PIO) (not being a citizen of Pakistan or Bangladesh or Sri Lanka or
Afghanistan or China or Iran or Nepal or Bhutan), who
(a) at any time, held Indian passport, or
(b) who or either of whose father or whose grandfather was a citizen of India by virtue of the
Constitution of India or the Citizenship Act, 1955 (57 of 1955)
(i) Who is a citizen of another country, but was a citizen of India at the time of, or at any
time after, the commencement of the constitution, or
(ii) Who is a citizen of another country, but was eligible to become a citizen of India at the
time of the commencement of the constitution, or
(iii) Who is a citizen of another country, but belongs to a territory that became part of India
after the 15th Day of August, 1947.
(iv) Who is a child of such a citizen, or
(b) A person, who is minor child of a person mentioned in
Documents required for buying property
– Pan card (Permanent account number)
– OCI/PIO card (In case of OCI/PIO)
– Passport (In case of NRI)
– Passport size photographs
– Address proof
Q1. Who can purchase immovable property in India?
Under the general permission granted by RBI, the following categories can freely purchase
immovable property in India:
(a) Non-Resident Indian (NRI) that is a citizen of India residing outside India
(b) Person of Indian Origin (PIO)- that is an individual
The general permission, however, covers only purchase of residential and commercial property
and not for purchase of agricultural land/plantation property/farm house in India. OCI can
purchase immovable property in India except agricultural land/plantation property/farmhouse.
Q2. Can a NRI/PIO acquire agricultural land/plantation property/farm
house in India?
Since general permission is not available to NRI/PIO to acquire agricultural land/plantation property/farm house in India, such proposals will require specific approval of Reserve Bank and the proposals are considered in consultation with the Government of India.
Tax on income from immovable property selling/renting
Q1. What is the Tax treatment for income generated from property selling or renting for NRI/
The mere acquisition of property does not attract income tax. However, any income accruing from
the ownership of it, in the form of rent (if it is let out)/annual value of the house (if is not let out and
it is not the only residential property owned by that person in India) and/or capital gains (short term
or long term) arising on the sale of this house or part thereof is taxable in the hands of the owner.
Q2. Do NRI/PIO/OCI have to file return in India for their property rental income and Capital
The Government of India has granted general permission for NRI/PIO/OCI to buy property in India and they do not have to pay any taxes even while acquiring property in India. However, taxes have to be paid if they are selling this property. Rental income earned is taxable in India, and they will have to obtain a PAN and file return of income if they have rented this property. On sale of the property, the profit on sale shall be subject to capital gains. If they have held the property for less than or equal to 3 years after taking actual possession then the gains would be short term capital gains, which are to be included in their total income as tax as per the normal slab rates shall be payable and if the property has been held for more then 3 years then the resultant gain would be long term capital gains subject to 20% tax plus applicable cess.
Capital Gains Tax on NRI/PIO/OCI
Q1. Does Capital Gains Tax (CGT) apply to NRI/PIO/OCI?
Yes. Long-term and short-term capital gains are taxable in the hands of non-residents.
Q2. Is the rental income from property repatriable and what are the RBI rules?
The rental income, being a current account transaction, is repatriable, subject to the appropriate
deduction of tax and the certification thereof by a Chartered Accountant in practice. Repatriation
of sale proceeds is subject to certain conditions. The amount of repatriation cannot exceed the
amount paid for acquisition of the immovable property in foreign exchange.
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