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Property in India - Information for Non-Residents (NRI)
Who can purchase property in India?
Persons of Indian origin (PIO) can buy residential or commercial property in India, without any prior approval from the Reserve Bank of India (RBI). The RBI has given general permission to acquire properties situated in India, provided they meet the following conditions: 1. They are not citizens of any of the following countries: Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal or Bhutan. 2. They held an Indian passport before acquiring foreign citizenship OR 3. They themselves (or either their father or grandfather) are a citizen of India by virtue of the Constitution of India or the Citizenship Act. 1955.Clarification: To legally purchase property in India, the foreign national must, be of Indian origin. (Notification No. FEMA 21/2000-RB
dated May 3, 2000)
For those who meet this requirement, there are no restrictions on the number of residential or commercial properties that can be purchased. The general permission given by the RBI does NOT apply for purchasing agricultural land, plantation property, or a farm house in India. Citizens of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal and Bhutan, are not permitted to purchase property in India without prior approval, of the Reserve Bank of India. In case citizens of these countries already own property in India, they cannot transfer such properties without prior RBI permission.Purchase of property by foreign companies
• Foreign companies in India, who have been authorized to open a branch or project office in India, are allowed to acquire any immovable property in India, where such property is necessary for (or related to) carrying on their business activity.RBI notification not required to purchase property
• NRIs and PIOs, who purchase residential or commercial property in India under the general permission granted by the RBI, are not required to file any documents with the Reserve Bank of India.Property purchase by foreigners
• Foreign nations of non-India origin are not authorized to purchase property in India. In case a foreigner who is living in India as a resident and wishes to purchase property, they require prior RBI approval.Gifting property to NRIs
• Any person residing in India, or an NRI/PIO, can gift property they own to any other Indian citizen, NRI or PIO. This applies only to residential or commercial property.Property gifting restrictions
• Agricultural land, plantation or farm house property in India cannot be gifted to NRIs or PIOs. • Property located in India, cannot be gifted to a foreign national of non-Indian origin. • A foreign national of non-Indian origin requires the prior approval of the Reserve Bank for gifting any kind of property they may own in India.
NRI - OCI - PIO Guide & Information
Property in India Information
for Non-Residents (NRI)
Who can purchase property in India
Persons of Indian origin (PIO) can buy residential or commercial property in India, without any prior approval from the Reserve Bank of India (RBI). The RBI has given general permission to acquire properties situated in India, provided they meet the following conditions: 1. They are not citizens of any of the following countries: Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal or Bhutan. 2. They held an Indian passport before acquiring foreign citizenship OR 3. They themselves (or either their father or grandfather) are a citizen of India by virtue of the Constitution of India or the Citizenship Act. 1955.Clarification: To legally purchase property in
India, the foreign national must, be of Indian origin.
(Notification No. FEMA 21/2000-RB dated May 3, 2000)
For those who meet this requirement, there are no restrictions on the number of residential or commercial properties that can be purchased. The general permission given by the RBI does NOT apply for purchasing agricultural land, plantation property, or a farm house in India. Citizens of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal and Bhutan, are not permitted to purchase property in India without prior approval, of the Reserve Bank of India. In case citizens of these countries already own property in India, they cannot transfer such properties without prior RBI permission.Purchase of property by foreign
companies
• Foreign companies in India, who have been authorized to open a branch or project office in India, are allowed to acquire any immovable property in India, where such property is necessary for (or related to) carrying on their business activity.RBI notification not required to
purchase property
• NRIs and PIOs, who purchase residential or commercial property in India under the general permission granted by the RBI, are not required to file any documents with the Reserve Bank of India.Property purchase by foreigners
• Foreign nations of non-India origin are not authorized to purchase property in India. In case a foreigner who is living in India as a resident and wishes to purchase property, they require prior RBI approval.Gifting property to NRIs
• Any person residing in India, or an NRI/PIO, can gift property they own to any other Indian citizen, NRI or PIO. This applies only to residential or commercial property. Property gifting restrictions • Agricultural land, plantation or farm house property in India cannot be gifted to NRIs or PIOs. • Property located in India, cannot be gifted to a foreign national of non-Indian origin. • A foreign national of non-Indian origin requires the prior approval of the Reserve Bank for gifting any kind of property they may own in India. Next Page: Tax on Gifted Property in India . . . click to read now >>
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