{"id":5101,"date":"2024-02-22T07:23:27","date_gmt":"2024-02-22T07:23:27","guid":{"rendered":"https:\/\/www.providenthousing.com\/?p=5101"},"modified":"2025-01-02T07:02:43","modified_gmt":"2025-01-02T07:02:43","slug":"a-complete-guide-for-nris-looking-to-buy-property-in-india","status":"publish","type":"post","link":"https:\/\/www.providenthousing.com\/blog\/a-complete-guide-for-nris-looking-to-buy-property-in-india\/","title":{"rendered":"A complete guide for NRIs looking to buy property in India"},"content":{"rendered":"<div id=\"dslc-theme-content\"><div id=\"dslc-theme-content-inner\"><div><style>\n                                                                tbody.custom_table_body tr,td {<br \/>\n                                                                    border: 1px solid black;<br \/>\n                                                                    padding: 10px<br \/>\n                                                                }<\/p>\n<p>                                                                table.new_table_of_content {<br \/>\n                                                                    margin-bottom: 10px;<br \/>\n                                                                }<br \/>\nol.custom_font_style strong li{<br \/>\nfont-size:20px !important;<br \/>\n}<br \/>\np.align_text_center{<br \/>\ntext-align:center;<br \/>\nfont-weight:bold;<br \/>\n}<br \/>\n                                                            <\/style>\n<p><span style=\"font-weight: 400;\">In the last year, we&rsquo;ve witnessed a substantial <a href=\"https:\/\/www.thehindubusinessline.com\/companies\/residential-real-estate-witnesses-35-y-o-y-surge-in-nri-investments\/article67299091.ece\" target=\"_blank\" rel=\"noopener nofollow noopener noreferrer\">35% spike<\/a> in NRI investments in India&rsquo;s residential real estate, with average investments ranging between &#8377;90 lakhs and &#8377;1.5 crores. This signals a noticeable uptick in NRI interest, possibly driven by factors like favourable market conditions and promising location prospects, among others.<\/span><br>\n<span style=\"font-weight: 400;\">However, navigating the intricacies of these investments can be challenging. We have curated this guide to provide key insights and empower you with the knowledge necessary to make informed decisions when acquiring property in India.<\/span><\/p>\n<p><strong>1. <a style=\"text-decoration: none;\" href=\"#type_properties_nri\">Type of properties that NRI can buy<\/a><\/strong><\/p>\n<p><strong>2. <a style=\"text-decoration: none;\" href=\"#ownership_power\">Ownership and Power of Attorney<\/a><\/strong><\/p>\n<p><strong>3. <a style=\"text-decoration: none;\" href=\"#loan_eligible\">Loan Eligibility<\/a><\/strong><\/p>\n<p><strong>4. <a style=\"text-decoration: none;\" href=\"#required_documents\">Documents Required<\/a><\/strong><\/p>\n<p><strong>5. <a style=\"text-decoration: none;\" href=\"#mode_of_payment\">Payment mode<\/a><\/strong><\/p>\n<p><strong>6. <a style=\"text-decoration: none;\" href=\"#taxes\">Taxes<\/a><\/strong><\/p>\n<p><strong>7. <a style=\"text-decoration: none;\" href=\"#legal_due\">Legal Due Diligence<\/a><\/strong><\/p>\n<p><strong>8. <a style=\"text-decoration: none;\" href=\"#duty_registration\">Stamp Duty and Registration<\/a><\/strong><\/p>\n<p><strong>9. <a style=\"text-decoration: none;\" href=\"#locations_to_buy\">Best locations to Buy<\/a><\/strong><\/p>\n<ul>\n<li>Bengaluru<\/li>\n<li>Mumbai<\/li>\n<li>Delhi NCR<\/li>\n<li>Hyderabad<\/li>\n<\/ul>\n<p><strong>10. <a style=\"text-decoration: none;\" href=\"#nri_faq\">FAQs<\/a><\/strong><\/p>\n<p><span style=\"font-weight: 400;\">Let&rsquo;s delve deeper to understand each of the crucial elements that NRIs need to know while investing in real estate-<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li><strong style=\"font-size: 20px;\"><strong style=\"font-size: 20px;\">Types of properties that you can buy<\/strong><\/strong><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">As an NRI buying property in India, it&rsquo;s crucial to be aware of your options. The <a href=\"https:\/\/rbi.org.in\/scripts\/BS_PressReleaseDisplay.aspx?prid=52995\" target=\"_blank\" rel=\"noopener nofollow noopener noreferrer\">Reserve Bank of India<\/a> has affirmed that &ldquo;NRIs and OCIs are regulated by the <a href=\"https:\/\/www.indiacode.nic.in\/bitstream\/123456789\/1988\/1\/A1999_42.pdf\" target=\"_blank\" rel=\"noopener nofollow noopener noreferrer\">Foreign Exchange Management Act<\/a> (FEMA) of 1999.&rdquo; The act states that as an NRI, you can buy immovable properties like residential and commercial properties without prior RBI approval. However, exceptions include farmhouses, plantation property, and agricultural land. Ownership of these restricted properties is only permissible through inheritance.<\/span><\/p>\n<p>&nbsp;<\/p>\n<ol class=\"custom_font_style\">\n<li style=\"list-style-type: none;\">\n<ol class=\"custom_font_style\">\n<li>Understanding Ownership and Power of Attorney<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">As an NRI considering a property purchase in India, you have three ownership options:<\/span><\/p>\n<ol class=\"custom_font_style\">\n<li style=\"list-style-type: none;\">\n<ol class=\"custom_font_style\">\n<li style=\"list-style-type: none;\">\n<ul>\n<li><strong>Sole Ownership<\/strong> &ndash; This option involves owning the property individually without any co-owners. You will have complete control and responsibility for the property<\/li>\n<li><strong>Joint ownership with another NRI<\/strong> &ndash; You can jointly own a property with another NRI. However, co-owning property with another NRI means shared rights, responsibilities, and potential financial contributions. It is advisable to ensure clear agreements for a smooth partnership<\/li>\n<li><strong>Joint ownership with a resident Indian<\/strong> &ndash; You can also consider purchasing a property in India jointly with an Indian resident<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">It is important to note that you have the flexibility to select any ownership option and initiate<br>\nproperty acquisition in India, even if you&rsquo;re not physically present during the proceedings. You can facilitate the process by issuing a Power of Attorney to someone in India to act in your stead or represent you in all property-related procedures, following the guidelines outlined in the <a href=\"https:\/\/www.indiacode.nic.in\/bitstream\/123456789\/2360\/1\/a1882-07.pdf\" target=\"_blank\" rel=\"noopener nofollow noopener noreferrer\">Power of Attorney Act<\/a>.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To carry out this procedure, you must endorse the document on stamp paper in the presence of a local lawyer in your respective country. After the document is officially verified, it must be sent to India within three months for adjudication. Subsequently, the appointed attorney will go through a registration process at the registrar&rsquo;s office, completing the entire procedure seamlessly.<\/span><\/p>\n<p>&nbsp;<\/p>\n<ol class=\"custom_font_style\">\n<li style=\"list-style-type: none;\">\n<ol class=\"custom_font_style\">\n<li>Loan Eligibility<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">As an NRI buying property in India, your home loan eligibility is similar to that of any Indian citizen, allowing you to secure up to 80% of your home loan from banks. Here are the key eligibility criteria:<\/span><\/p>\n<ol class=\"custom_font_style\">\n<li style=\"list-style-type: none;\">\n<ol class=\"custom_font_style\">\n<li style=\"list-style-type: none;\">\n<ul>\n<li>You must fall under one of the following categories:<br>\n<span style=\"font-weight: 400;\">NRIs (individuals of Indian origin residing outside India for employment, business, or other purposes)<\/span>\n<p class=\"align_text_center\">or<\/p>\n<p><span style=\"font-weight: 400;\"> Persons of Indian Origin (individuals with Indian ancestry or lineage, including those who have held Indian citizenship or their descendants),<\/span><\/p>\n<p class=\"align_text_center\">or<\/p>\n<p><span style=\"font-weight: 400;\">Overseas Citizens of India (a status given to foreign nationals of Indian origin, allowing them to reside and work in India indefinitely)<\/span><\/p><\/li>\n<li>Your age should fall within the range of 18 to 70 years. Different banks have different eligibility criteria for age limit and minimum monthly salary<\/li>\n<li>You can apply for NRI home loans if you&rsquo;re employed, self-employed, or run your own business<\/li>\n<li>You need to maintain a credit score of 750 or above to increase the likelihood of securing a home loan<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">According to <a href=\"https:\/\/www.indiacode.nic.in\/bitstream\/123456789\/1988\/1\/A1999_42.pdf\" target=\"_blank\" rel=\"noopener nofollow noopener noreferrer\">FEMA<\/a> regulations, the loan amount cannot be directly deposited into your bank account; instead, it must be disbursed to either the seller&rsquo;s or the developer&rsquo;s account. The loan can be repaid using funds from your NRO\/NRE account or FCNR deposits.<\/span><\/p>\n<p>&nbsp;<\/p>\n<ol class=\"custom_font_style\">\n<li style=\"list-style-type: none;\">\n<ol class=\"custom_font_style\">\n<li>Documents Required<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Following are the documents you will need during your property purchase process-<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-size: 15px !important;\"><strong><strong>Copy of Indian Passport and Visa:<\/strong><\/strong><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">As an NRI, possessing an Indian passport or a valid visa is essential. If you don&rsquo;t have one, you can apply for a fresh or reissued passport at the Indian Embassy. And if you have a non-Indian passport, a PIO or OCI card will be required<\/span><\/p>\n<p>&nbsp;<\/p>\n<ol class=\"custom_font_style\">\n<li style=\"list-style-type: none;\">\n<ol class=\"custom_font_style\">\n<li style=\"list-style-type: none;\">\n<ol type=\"a\">\n<li style=\"font-size: 15px !important;\">PAN Card:<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">A PAN card is legally required for property transactions. If you don&rsquo;t have one, apply online using Form 49A through UTI or NSDL websites<\/span><\/p>\n<p>&nbsp;<\/p>\n<ol class=\"custom_font_style\">\n<li style=\"list-style-type: none;\">\n<ol class=\"custom_font_style\">\n<li style=\"list-style-type: none;\">\n<ol type=\"a\">\n<li style=\"font-size: 15px !important;\">Power of Attorney (POA):<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">The bank provides the necessary format for the POA, which is crucial when you are not physically present in India during the purchase transaction<\/span><\/p>\n<p>&nbsp;<\/p>\n<ol class=\"custom_font_style\">\n<li style=\"list-style-type: none;\">\n<ol class=\"custom_font_style\">\n<li style=\"list-style-type: none;\">\n<ol type=\"a\">\n<li style=\"font-size: 15px !important;\">Work Permit, Employment Contract, or Appointment Letter:<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">Documentation from your country of residence is needed to establish your work status<\/span><\/p>\n<p>&nbsp;<\/p>\n<ol class=\"custom_font_style\">\n<li style=\"list-style-type: none;\">\n<ol class=\"custom_font_style\">\n<li style=\"list-style-type: none;\">\n<ol type=\"a\">\n<li style=\"font-size: 15px !important;\">Bank Statements:<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">If you have an NRE (Non-Resident External) or NRO ( Non-Resident Ordinary) account, you need to furnish your bank statement for the previous 12 months<\/span><\/p>\n<p>&nbsp;<\/p>\n<ol class=\"custom_font_style\">\n<li style=\"list-style-type: none;\">\n<ol class=\"custom_font_style\">\n<li style=\"list-style-type: none;\">\n<ol type=\"a\">\n<li style=\"font-size: 15px !important;\">Salary Certificate or Payslips:<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">You will need to furnish the most recent income-related documents (last six months)<\/span><\/p>\n<p>&nbsp;<\/p>\n<ol class=\"custom_font_style\">\n<li style=\"list-style-type: none;\">\n<ol class=\"custom_font_style\">\n<li style=\"list-style-type: none;\">\n<ol type=\"a\">\n<li style=\"font-size: 15px !important;\">Income Tax Returns:<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">You are required to submit the most recent income tax returns<\/span><\/p>\n<p>&nbsp;<\/p>\n<ol class=\"custom_font_style\">\n<li style=\"list-style-type: none;\">\n<ol class=\"custom_font_style\">\n<li style=\"list-style-type: none;\">\n<ol type=\"a\">\n<li style=\"font-size: 15px !important;\">Credit Bureau Reports:<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">These reports you need to submit, can be obtained easily from a credit information or reporting company. They offer details on your credit history, borrowing patterns, repayment behaviours, and bill-paying habits<\/span><\/p>\n<p>&nbsp;<\/p>\n<ol class=\"custom_font_style\">\n<li style=\"list-style-type: none;\">\n<ol class=\"custom_font_style\">\n<li>Payment mode<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">In adherence to RBI guidelines, payment for immovable property in India must be processed through established banking channels. Additionally, please be aware that your payment is subject to all relevant taxes and duties applicable in the country.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Therefore, as an NRI, your options include remitting overseas funds into INR or using the balance in your NRE, NRO, or FCNR accounts or home loans (as discussed above). If you opt for payments through an NRE, NRO, or FCNR account, remember that:<\/span><\/p>\n<ol class=\"custom_font_style\">\n<li style=\"list-style-type: none;\">\n<ol class=\"custom_font_style\">\n<li style=\"list-style-type: none;\">\n<ul>\n<li>NRE account is used for spending overseas earnings in India<\/li>\n<li>NRO Account manages income earned within India<\/li>\n<li>FCNR account is used when you want to maintain a fixed deposit account in India<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">The choice should be made based on your specific needs.<\/span><\/p>\n<p>&nbsp;<\/p>\n<ol class=\"custom_font_style\">\n<li style=\"list-style-type: none;\">\n<ol class=\"custom_font_style\">\n<li>Taxes<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Any type of earnings in India, whether for a resident or an NRI, is likely to be subjected to taxation. This includes income from your commercial or residential property in India, such as property rents (if they exceed basic exemption limits) and capital gains. The taxation on your income from any property in India is similar to the applicable rates for Indian citizens.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As an NRI buying property in India, your rental income from the property is credited to your NRE or NRO accounts after tax deduction.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Check the table below for some more details:<\/span><\/p>\n<table class=\"new_table_of_content\">\n<tbody class=\"custom_table_body\">\n<tr>\n<td><strong> TDS (Tax Deducted at Source)<\/strong><\/td>\n<td>\n<ul>\n<li>A TDS of 1% applies if the sale value exceeds INR 50,00,000 (when purchasing from an Indian<br>\nresident)<\/li>\n<li>A 20% TDS deduction applies on long-term capital gain (when buying from a non-resident)<\/li>\n<li>A 30% TDS deduction applies to short-term capital gains (Short-term capital gains are the<br>\nprofits you earn from selling a property that was held for less<br>\nthan 2 years)<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td><strong>GST (Goods and Services Tax)<\/strong><\/td>\n<td>\n<ul>\n<li>GST amount varies based on size, and property type<\/li>\n<\/ul>\n<p><strong>Note: Ready-to-move properties* are exempt from<br>\nGST.<\/strong><\/p>\n<p><strong>GST for affordable housing is <a href=\"https:\/\/cleartax.in\/s\/faqs-on-the-real-estate-sector-under-gst\" target=\"_blank\" rel=\"noopener nofollow noopener noreferrer\">1%<\/a><\/strong><\/p>\n<p><strong>GST for Non-affordable\/luxury housing <a href=\"https:\/\/cleartax.in\/s\/faqs-on-the-real-estate-sector-under-gst\" target=\"_blank\" rel=\"noopener nofollow noopener noreferrer\">5%<\/a><\/strong><\/p><\/td>\n<\/tr>\n<tr>\n<td><strong>TAX EXEMPTION<\/strong><\/td>\n<td>\n<ul>\n<li>You can claim exemptions from long-term capital gains (profit earned on the sale of a property<br>\nthat is held for more than 24 months) taxes under Sections 54, 54EC, and 54F of the Income Tax<br>\nAct, 1961<\/li>\n<li>While filing your returns, you can leverage these exclusions to reduce your capital gains<br>\nliabilities<\/li>\n<li>You can also request a refund of the TDS amount deducted from your capital gains<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td><strong>SUBSIDIES<\/strong><\/td>\n<td>\n<ul>\n<li>You are eligible for a subsidy if your annual family**income is less than 18 lakh<\/li>\n<li>The applicant or family member must not have previously availed of the scheme (Pradhan Mantri<br>\nAwas Yojana) or owned a house in India<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<ol class=\"custom_font_style\">\n<li style=\"list-style-type: none;\">\n<ol class=\"custom_font_style\">\n<li>Legal Due Diligence<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">To ensure a transaction without complications and a seamless ownership journey, here&rsquo;s a list of documents you must scrutinise beforehand.<\/span><\/p>\n<ol class=\"custom_font_style\">\n<li style=\"list-style-type: none;\">\n<ol class=\"custom_font_style\">\n<li style=\"list-style-type: none;\">\n<ol type=\"a\">\n<li>The title deed is registered in the seller&rsquo;s name, meeting state-specific requirements for proper property documentation. You can obtain this document from the property owner<\/li>\n<li>Approved plan from the seller<\/li>\n<li>Building permit from the property owner\/developer<\/li>\n<li>Older title deeds (if available) from the property owner or the sub-registrar&rsquo;s office<\/li>\n<li>Occupancy certificate (if the property is ready) from the <a href=\"https:\/\/www.bankbazaar.com\/home-loan\/occupancy-certificate.html\" target=\"_blank\" rel=\"noopener nofollow noopener noreferrer\">local municipal body<\/a>)<\/li>\n<li>Share certificate (for cooperative housing societies) issued by the <a href=\"https:\/\/www.lodhagroup.in\/blogs\/housing-society-share-certificate-rules-importance\" target=\"_blank\" rel=\"noopener nofollow noopener noreferrer\">housing society<\/a>.<\/li>\n<li>Encumbrance certificate issued by the sub-registrar&rsquo;s office.<\/li>\n<li>NOC from the housing society<\/li>\n<li>Real Estate Regulatory Authority (RERA) registration (if applicable; most states except Nagaland follow RERA for real estate regulation)<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">Once your documents are in order, obtain the sale agreement to formalise the property purchase from the seller, real estate agent, or a lawyer.<\/span><\/p>\n<p>&nbsp;<\/p>\n<ol class=\"custom_font_style\">\n<li style=\"list-style-type: none;\">\n<ol class=\"custom_font_style\">\n<li>Stamp Duty and Registrations<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">In India, stamp duty is regulated by the Indian Stamp Act of 1899, while the registration fee is regulated by the Indian Registration Act of 1908. This is a one-time fee paid to the Government during the property registration process (under your name.) The cost is calculated as a certain percentage of the property&rsquo;s saleable value.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For example, in Karnataka, properties valued under Rs. 20 lakh are subject to a 2% stamp duty. For properties ranging from Rs. 21 lakh to Rs. 45 lakh, there is a 3% stamp duty, and properties exceeding Rs. 45 lakh attract a 5% stamp duty.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Apart from these charges, an additional 1% of the property value is levied for officially registering the property under your name. You can learn more about it <a href=\"\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/span><\/p>\n<p>&nbsp;<\/p>\n<ol class=\"custom_font_style\">\n<li style=\"list-style-type: none;\">\n<ol class=\"custom_font_style\">\n<li>Best locations to Buy<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Now armed with essential information, let&rsquo;s delve into the top cities to facilitate your exploration.<\/span><\/p>\n<ol class=\"custom_font_style\">\n<li style=\"list-style-type: none;\">\n<ul>\n<li><strong>Bengaluru<\/strong><span style=\"font-weight: 400;\">Quarterly sales and new launches in Bengaluru have seen a steep hike of 10.5% and 17.4%, respectively, on a q-o-q basis. Known as India&rsquo;s Silicon Valley, it provides a thriving startup ecosystem and potentially higher rental yields, making it an ideal destination for your property investments. Case in point- North Bengaluru. The rates of residential properties in North Bengaluru showing a rise of <a href=\"https:\/\/www.moneycontrol.com\/news\/business\/real-estate\/property-prices-in-northern-bengaluru-increase-by-almost-10-percent-report-10835431.html\" target=\"_blank\" rel=\"noopener nofollow noopener noreferrer\">9.8%<\/a> in the first quarter of 2023, makes it an attractive proposition for investors. Take a look at projects such as Provident Deansgate and Provident Ecopolitan by Provident Housing. They are located in two of North Bengaluru&rsquo;s prime residential localities &ndash; IVC Road and Aerospace Park, respectively.<\/span><\/li>\n<li><strong>Mumbai<\/strong><br>\nMumbai, the financial capital of India, witnessed a significant 14% growth q-o-q in new property launches, and overall sales saw a staggering 25% growth q-o-q in 2023. Attracting you to astute investments, Mumbai offers a high-quality lifestyle, robust social infrastructure, and diverse<br>\nentertainment options.<\/li>\n<li><strong>Delhi NCR<\/strong><br>\nA significant hub for real estate investment, Delhi NCR witnessed a surge in interest among NRIs, fueled by a 3% q-o-q increase in new launches and a 7% q-o-q rise in sales. Noida witnessed the highest number of launches, with Gurugram following closely behind. The region&rsquo;s dynamic property market, cosmopolitan culture, and the presence of most Fortune 500 companies make it an appealing choice for a real estate portfolio.<\/li>\n<li><strong>Hyderabad<\/strong><br>\nLuxury segment projects dominated Hyderabad&rsquo;s Q3 launches by 86% and sales by 32% across all submarkets. Renowned for its gated communities that ensure enhanced security and provide a superior environment, Hyderabad is another excellent option for NRIs to consider in their real estate investment endeavours.<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<p><strong id=\"nri_faq\" style=\"font-size: 20px;\">FAQs<\/strong><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li><strong><strong>How many properties can you buy as an NRI in India?<\/strong><\/strong><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">There are no restrictions on the number of properties you can buy as an NRI. However, remember that residential and commercial properties are the only options available for you. You cannot buy farmhouses, plantation property, or agricultural land unless it is via legal inheritance.<\/span><\/p>\n<p>&nbsp;<\/p>\n<ol>\n<li style=\"list-style-type: none;\">\n<ol>\n<li>What if you can&rsquo;t visit India during the property purchase?<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">If you cannot come to India during the property purchase, you can give someone the legal authority to act on your behalf with a document called a Power of Attorney.<\/span><\/p>\n<p>&nbsp;<\/p>\n<ol>\n<li style=\"list-style-type: none;\">\n<ol>\n<li>How will I know if the seller\/developer is legitimate?<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">To safeguard your hard-earned income or investment as an NRI, it is crucial to place trust in the seller or developer of the property you intend to invest in. Additionally, it is imperative to consider the quality and timeliness of construction before making any investment decisions. The best way to ensure all the above is to purchase a property from a reputed developer such as Provident Housing Limited, that is known for high quality developments.<\/span><br>\n<span style=\"font-weight: 400;\">With Provident Housing and similar reputed developers, you&rsquo;re assured of transparency in all<br>\nfinancial dealings and timely delivery of the project.<\/span><br>\n<span style=\"font-weight: 400;\">Furthermore, by opting for Provident Housing or similar esteemed developers, you can rest<br>\nassured that they will assist you with all requisite documentation and streamline processes such as home loan applications. This not only lightens your burden but also addresses any concerns you may have while investing in a property.<\/span><\/p>\n<\/div>\n<\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>In the last year, we&rsquo;ve witnessed a substantial 35% spike in NRI investments in India&rsquo;s residential real estate, with average investments ranging between &#8377;90 lakhs and &#8377;1.5 crores. This signals a noticeable uptick in NRI interest, possibly driven by factors like favourable market conditions and promising location prospects, among others. However, navigating the intricacies of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5127,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[308,314],"tags":[],"class_list":["post-5101","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","category-tips-advice"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Things to know as an NRI buying property in India<\/title>\n<meta name=\"description\" content=\"Are you an NRI buying property in India? 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