An Indian Citizen who holds a valid Indian passport and stays abroad for employment/carrying on business or vocation outside India or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a non-resident Indian (NRI). Non-resident foreign citizens of Indian Origin are treated at par with non-resident Indians (NRI).
A Non-Resident Indian (NRI) is an Indian citizen who holds a valid Indian passport and resides outside India for employment, business, vocation, or any other purpose, indicating an intention to stay abroad for an uncertain period.
Foreign citizens of Indian origin holding an Overseas Citizen of India (OCI) card are treated at par with NRIs for investment in immovable property in India.
A foreign citizen (other than a citizen of Pakistan, Bangladesh, Afghanistan, Bhutan, Sri Lanka, Nepal, China, or Iran) is eligible for OCI status if:
Note: PIO cards are no longer valid and have been merged into the OCI category.
Yes. NRIs and OCI cardholders are permitted to purchase residential and commercial properties in India under general permission.
They cannot purchase:
No. NRIs and OCI cardholders may purchase any number of residential or commercial properties in India.
Payments must be made through normal banking channels using:
Cash payments are not permitted.
Yes. An NRI or OCI cardholder may lease out their property in India without any RBI approval.
Yes. An NRI or OCI cardholder can sell property in India to:
Capital gains tax is applicable as per Indian tax laws.
Repatriation of sale proceeds is permitted up to USD 1 million per financial year, subject to payment of applicable taxes. The amount that can be repatriated depends on the source of funds used for purchasing the property. Properties purchased using foreign exchange routed through NRE / FCNR accounts are eligible for repatriation within the prescribed limits.
Yes. NRIs and OCI cardholders are eligible for home loans in India.
Some lenders may require a Power of Attorney holder in India for documentation and execution.
Yes. An NRI or OCI cardholder may gift residential or commercial property to:
Agricultural land, plantation property, and farmhouses cannot be gifted.
Yes. NRIs, OCI cardholders, and foreign nationals of non-Indian origin may inherit property in India from a person resident in India or from another NRI, provided the property was acquired in compliance with applicable foreign exchange laws.
Citizens of certain countries may require prior RBI approval.
Yes. Refund of application money, booking amount, or purchase consideration (including interest, if any, after tax) is permitted, provided:
Yes. NRIs and OCI cardholders residing abroad may appoint a trusted person in India through a Power of Attorney to carry out property-related formalities, including execution of agreements, registration, and taking possession.
