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Can NRIs & Overseas Corporate Bodies Invest in Property?

We are trying to answer all the questions related to the investment in property by NRIs and Overseas Corporate Bodies investment in property in India. Below FAQ will answer all your queries:

Is it possible for non resident Indians and Overseas Corporate Bodies to invest in India?

Yes, it is absolutely possible for them however, through the RBI and Government way which includes, Foreign Investment Promotion Board (FIPB). These Individuals and bodies can invest up-to 100% equity in Indian real estate and civil aviation sectors. Their investment in India is fully repatriable except in case of real estate which has 3 years lock-in period on original investment along with 16% cap on dividend repatriation.

What is the procedure of payment for a residential property, for foreign citizens?

Payments can be made either out of inward remittances in foreign exchange through normal banking channels or out of funds from NRE/FCNR accounts in Indian banks.

How many commercial properties, a NRI can acquire in India legally?

Any number of commercial properties can be acquired by them, as long as they can afford it legally.

Are foreign citizens of Indian origin allowed to acquire an immovable property through inheritance?

Yes, they can do so.

Are residents of Indian origin allowed to send remittances of their owned/inherited assets in India, outside India?

Yes, they can do so through approved banking channels however, after submitting their remittance forms to Reserve Bank of India. Maximum limit of sending remittances are US$ 100,000 a year.

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