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NRI Faqs

Who is a foreign citizen of Indian Origin?

A foreign citizen (other than a citizen of Pakistan, Bangladesh, Afghanistan, Bhutan, Sri Lanka or Nepal) is deemed to be of Indian origin if:
a.) He held an Indian Passport at any time or;
b.) He or his father or paternal

Are foreign nationals of Indian origin allowed to purchase immovable property in India?

Yes, foreign nationals of Indian origin, whether resident in India or abroad, have been granted general permission to purchase immovable property in India.

Do non-resident Indian nationals require permission of Reserve Bank to acquire residential/ commercial
property in India?

No permission is required by non-resident Indian nationals to acquire immovable Property in India.

Non-resident Indians are staying abroad can the property be purchased through the agent or through the
Power of Attorney?

The non-resident Indians who are staying abroad may enter into an agreement through their relatives and/ or by executing the Power of Attorney in their favour as it is not possible for them to be present for completing the formalities of purchase (negotiating with the builder or Developer, drafting and signing of agreements, taking possession, etc.). These formalities can be completed through some known person who can be given the Power of Attorney for this purpose. Power of Attorney should be executed on the stamp paper before the proper authorities in foreign countries. Power of Attorney cannot be drafted on the stamp paper bought in India.

What should be the method of payment for purchasing residential immovable property in India by foreign nationals of Indian origin under the general permission?

The purchase consideration should be met either out of inward remittances in foreign exchange through normal banking channels or out of funds from NRE/ FCNR accounts maintained with banks in India.

Can Indian companies grant loans to their NRI staff?

The Reserve Bank of India permits Indian firms/companies to grant housing loans to their employees deputed abroad and holding Indian passport subject to certain conditions. Q. Can an dealer grant housing loan to non-residents of Indian nationality where he is a principal borrower with his resident close relative as a co-obligate/guarantor, or where the land is owned jointly by such NRI borrower with his resident close relative? Ans. Yes. However, in such cases the payment of margin money and repayment of the loan instalments should be made by the NRI.

What way the Non-resident Indian can finance the flat?

The purchase of the flats can be financed from the fresh remittance through the normal banking channels or from payment from original non-resident account or from Non-resident (External) Accounts. When the flat is under construction, it may be possible to get instalment facilities from the builder. Loan may also be available in India for purchase of flats, for example from State Bank of India, Housing Development Finance Corporation, IDBI, Axis bank etc.

Non-resident Indians who are citizens of India (India Passport holders) are eligible for housing finance for the acquisition of an immovable property or construction of a new house, or a flat for their occupation or for that of their family in India. But the HDFC also considers granting of loans to non-resident Indians even if they are abroad, provided a family member of his or her in India is made a co-borrower and a power of attorney is given to his representative in India.

Is there any restriction on the number of residential or commercial properties that NRI/PIO can purchase
under the general permission available?

No, there is no restriction on the number of residential or commercial properties that NRI/PIO can purchase under the general permission available.

Can a name of foreign national or non-Indian origin be added as a share holder to a residential or commercial property purchased by NRI or PIO?


Do non-resident Indians require permission to transfer any immovable property to a person of Indian origin resident outside India/ Non-resident Indian?

No specific permission is required for said transfer of any immovable property, other than agricultural, or plantation property or farm house.

Can NRI or PIO acquire residential or commercial property by way of gift under the general permission

Yes. Under the general permission available NRI or PIO may acquire residential or commercial property by way of gift from a person resident in India or a NRI or a PIO.

Can such residential property be given on rent if not required for immediate residential use?


Can the rental income from such property be remitted outside India?

No. Such income cannot be remitted abroad and will have to be credited to the ordinary non-resident rupee account of the owner of the property.

Can I make changes to my flat?

Yes, as long as these changes will not effect the construction of the . However, before making any alterations, you first have to obtain a No Objection Certificate from DN Homes. Please note that all external changes are not allowed.

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