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NRI Corner

Who is a non-resident Indian (NRI)?

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

Do foreign citizens of Indian origin require permission of The Reserve Bank of India to purchase immovable property in India for their residential use?

In what manner the purchase consideration for the residential immovable property should be paid by foreign citizens of Indian origin under the general permission?

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

What are the formalities needed to complete by foreign citizens of Indian origin for purchasing residential immovable property in India under the general permission?

Can such property be sold without the permission of The Reserve Bank of India?

Can sale Proceeds of such property if and when sold be remitted out of India?

Are any conditions required to be fulfilled if repatriation of sale proceeds is desired?

What is the procedure for seeking such repatriation?

Can foreign citizens of Indian origin acquire or dispose of residential property by way of gifting it?

Can foreign citizens of Indian origin acquire commercial properties in India?

Can sale proceeds of such property be remitted out of India?

Can they dispose of such properties?

Can the properties (residential/commercial) be given on rent if not required for immediate use?

Can NRIs obtain loans for acquisition of a house flat for residential purpose from authorised dealers/finance institutions providing housing finance?

Can Indian companies grant loans to their NRIs staff?

Can authorised dealer grant housing loan to non-residents of Indian nationality where he is a principal borrower with his resident close relative as a co-obligant/guarantor or where the land is owned jointly by such NRI borrower with his resident close relatives?

Can NRIs give a Power of Attorney in favour of a person of his choice in India to complete loan formalities on his behalf?

Can the house occupied by NRIs be let out?

What is the income tax implication on house property income in India?

Who is a non-resident Indian (NRI)?

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

Do foreign citizens of Indian origin require permission of The Reserve Bank of India to purchase immovable property in India for their residential use?

In what manner the purchase consideration for the residential immovable property should be paid by foreign citizens of Indian origin under the general permission?

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

What are the formalities needed to complete by foreign citizens of Indian origin for purchasing residential immovable property in India under the general permission?

Can such property be sold without the permission of The Reserve Bank of India?

Can sale Proceeds of such property if and when sold be remitted out of India?

Are any conditions required to be fulfilled if repatriation of sale proceeds is desired?

What is the procedure for seeking such repatriation?

Can foreign citizens of Indian origin acquire or dispose of residential property by way of gifting it?

Can foreign citizens of Indian origin acquire commercial properties in India?

Can sale proceeds of such property be remitted out of India?

Can they dispose of such properties?

Can the properties (residential/commercial) be given on rent if not required for immediate use?

Can NRIs obtain loans for acquisition of a house flat for residential purpose from authorised dealers/finance institutions providing housing finance?

Can Indian companies grant loans to their NRIs staff?

Can authorised dealer grant housing loan to non-residents of Indian nationality where he is a principal borrower with his resident close relative as a co-obligant/guarantor or where the land is owned jointly by such NRI borrower with his resident close relatives?

Can NRIs give a Power of Attorney in favour of a person of his choice in India to complete loan formalities on his behalf?

Can the house occupied by NRIs be let out?

What is the income tax implication on house property income in India?

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