NRI
1. Eligibility – Who Can Buy Property in India ?
NRIs (Non-Resident Indians) – Full rights to buy Residential & Commercial Property
PIOs (Persons of Indian Origin) – Similar rights as NRIs
OCI Card Holders – Can also invest freely
Not Allowed – Agricultural Land, Farmhouse, Plantation Property (unless inherited/gifted)
Tip : Residential apartments in metro cities and Tier-2 cities like Raipur are currently the most popular investment choice for NRIs.
2. Payment Rules & Mode of Transaction
All payments must go through banking channels only
Permitted accounts: NRE / NRO / FCNR Accounts
No cash allowed under RBI guidelines
Payments can be done via:
Wire Transfers
Demand Drafts
Cheques from NRE/NRO accounts
3. Home Loan Facility for NRIs
Indian banks actively offer loans to NRIs.
Loan Repayment Options: NRE/NRO/FCNR deposits or foreign remittances
Loan Tenure: Up to 30 years depending on bank policy
Interest Rates: Slightly higher than resident Indians
Extra Documents Needed for Loans :
Overseas Bank Statement (last 6 months)
Employment Contract / Business License (for self-employed)
Tax Residency Certificate (if applicable)
4. Taxation & Benefits
Income Tax – Rental income taxable in India, but relief via DTAA (Double Tax Avoidance Agreement) available in many countries
Capital Gains Tax –
Short-Term (< 2 years) → Taxed as per income slab
Long-Term (> 2 years) → 20% with indexation
TDS on Sale – Buyer deducts TDS before paying NRI seller
Tax Deductions –
Section 80C : Home loan principal repayment
Section 24 : Interest on home loan
5. Repatriation of Funds (Sending Money Abroad)
Repatriation allowed only for property purchased through foreign remittance / NRE / FCNR account
Sale proceeds of maximum 2 properties can be repatriated
RBI allows repatriation of up to USD 1 million per financial year (including sale, gifts, inheritance)
6. Power of Attorney (PoA)
Since NRIs usually can’t be present in India during registration:
PoA can be made in Indian Embassy/Consulate abroad
Needs to be attested, notarized, and stamped in India
Ensure PoA mentions clear powers (buy, sell, register, loan, rent, manage)
7. Checklist Before Buying
Title Verification (Clear & Marketable ownership)
RERA Registration (For under-construction projects)
Encumbrance Certificate (No pending loans/legal cases)
Builder’s Track Record (Past delivery & approvals)
Possession Timeline & Penalty Clauses
8. Documents Required
Passport (with valid visa/work permit)
PAN Card (mandatory for transactions)
Overseas Address Proof
Latest Photographs
Bank Account (NRE/NRO) details
Tax Residency Status (if needed for DTAA benefits)
9. Investment Opportunities for NRIs
Commercial Spaces – Offices, Retail Shops, Co-working hubs
Luxury Apartments & Villas – For self-use + rental income
Affordable Flats & Plots – High demand in Tier-2 cities like Raipur
Holiday Homes / Serviced Apartments – Rental + vacation use
Raipur & nearby Chhattisgarh cities are rapidly growing, offering high ROI compared to metro markets.
