Regulatory Act
NRI Recognition under FERA, 1973
The Non-Resident Indians (NRIs) are recognized under the Foreign Exchange Regulatory Act, 1973. Every bank and housing finance companies follow the RBI guidelines to define NRI – “An Indian citizen who holds a valid document like Indian passport and who stays abroad for employment or for carrying on business or vocation outside India or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a NRI."
Our Mission
Clarity & Trust
We have curated this section for NRIs who are interested in buying and/or selling properties and are interested in investing in properties in India. Our main objective is to assist you in addressing any issues or uncertainties you may have regarding NRI property investment.
Guidelines
Law and Procedure
Below, we have gathered fundamental legal details to aid you in purchasing a home or property in India.
RBI Permissions
NRIs holding Indian passports do not require any permission from RBI for acquiring immovable property for bona-fide residential purposes.
Financial Transactions
Purchase consideration may be paid through remittance from abroad via normal banking channels or out of NRO/ NRE/ FCNR accounts.
Due Diligence
We advise getting a copy of the title report by the solicitor of the property to ensure there are no hidden conditions or reservations.
Clearance Reports
Specific clearance reports like CRZ (Coastal Regulation Zone) or heritage reservations must be checked diligently before finalization.