What are the rules for NRIs to buy a property in India?

NRIs are allowed to buy residential and commercial properties in India. However, they cannot purchase agricultural land, plantations, or farmhouses.

Is it a good idea for NRIs to buy property in India?

Yes. With proper planning and due diligence, NRI real estate investment can offer good rental yield, long-term appreciation, and emotional value.

What are the tax implications of an NRI buying property in India?

NRIs are subject to TDS at the time of purchase or sale, property tax, and capital gains tax on sale. DTAA benefits may also apply, depending on the country of residence.

Can an NRI buy property in India without a Power of Attorney?

Yes. An NRI can buy property without a Power of Attorney. However, if you are unable to be present in India for registration or leasing activities, appointing a Power of Attorney is recommended.

Can NRIs legally buy property in India?

Yes. NRIs can legally buy residential and commercial properties in India. Agricultural land and farmhouses are restricted.

What type of properties can NRIs invest in?

NRIs can invest in apartments, villas, commercial spaces, and non-agricultural plots in India.

How can NRIs make payments for property purchases in India?

Payments must be made through NRE, NRO, or FCNR bank accounts. All transactions must be cashless and carried out in Indian Rupees.

What is the role of a Power of Attorney (PoA) for NRIs?

A Power of Attorney allows a trusted person to act on the NRI’s behalf for signing agreements, making payments, and completing property registration.

Is it safe for NRIs to invest in under-construction projects?

Yes, provided the project is RERA-registered and developed by a reputed builder. It is important to check the developer’s delivery track record and financial stability.

What should NRIs verify before buying property in India?

NRIs should verify title documents, RERA registration, statutory approvals, builder reputation, payment mode compliance, and applicable taxes before purchasing property in India.