How An NRI Can Purchase A Residential Property In India


Are you an NRI, waiting to purchase a residential property in India but don’t know how? Don’t worry, we’ve got you covered here at Auro Realty. Buying a property in India for an NRI is as easy as for an Indian citizen.  With changing times, the procedure for NRI to buy property in India has become a hassle-free job and not at all time-consuming. Below are the steps on what should be done and how can an NRI purchase a residential property in India.


Surprisingly, there are not a lot of documents required for NRIs to get started. All you need is,

  • A valid passport.
  • Address proof.
  • PAN card.
  • A photograph.

And you’re done, quite simple right? Now that you are done with the paperwork, let’s move ahead to real paper.


Don’t have funds ready? No worries, now with the help of RBI, they have now granted permission to banks and housing finance institutions that are registered with the National Housing Bank which will provide home loans for NRIs to buy a residential property in India. All transactions have to be made in Indian currency, only. But, the loan amount goes directly to the seller/developer’s bank, which seems not an issue unless you’re thinking of doing a scam.

The loan, however, can be repaid using funds in an NRI’s NRO(Non-Residential Ordinary) /NRE(Non-Resident External) account or FCNR (Fixed Deposit Foreign Currency account) deposits.


Another thing made easier is an NRI can buy property in their own name or jointly with any other NRI’s except a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal, or Bhutan, is allowed to acquire or transfer immovable property in India, other than lease, not exceeding five years, without prior permission from the Reserve Bank.


NRI’s & Resident Indians have to follow a different tax system. NRIs who buy a property have to deduct Income Tax at 1% if the value of the property is more than 50 lakhs and this amount has to be paid to the Income Tax Department. However, if you’re buying this property from a person who is also an NRI this rate is much higher. If the property is for self-use and is financed through a home loan, the interest paid on the loan is deductible from the NRI’s total taxable income.


If at all the said person cannot be physically present there, then with the help of POA, the person can choose a relative/person to legally carry forward the transaction on his/her behalf. However, to get a valid POA you have to visit the Indian Embassy of the city and country where you are located.

If you are an NRI looking for amazing properties, do have a look at the new residential property by Aurobindo Realty, Kohinoor.

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