The Indian citizens who choose to stay outside India for an extended period for work, education, or other reasons are known as NRIs (Non-resident Indians). However, foreign citizens of Indian origins or their descendants are known as OCI (Overseas Citizen of India).

Yes, NRI/OCI are allowed to purchase both commercial and residential property in India. However, agricultural land, plantation property/farmhouse are excluded from this.

No, there is no such requirement.

There is no restriction on the number of properties that any NRI/OCI can purchase in India. The restriction lies only in the type of property that prohibits them from owning agricultural land, plantation property, or a farmhouse.

The regulations that govern the purchase and sale transactions are- the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 issued under the Foreign Exchange Management Act, 1999 issued by the Department of Economic Affairs, Ministry of Finance on 17th October 2019.

A person living outside India, who is not an NRI or OCI but is married to one, can jointly buy one property (excluding agricultural land, farmhouses, or plantations) with their NRI/OCI spouse, as long as their marriage has been registered and has lasted for at least two years before the purchase. If the foreign spouse is from Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal, Bhutan, Hong Kong, Macau, or North Korea, they need prior approval from the RBI to buy the property.

Citizens of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal, Bhutan, Macau, Hong Kong, or North Korea cannot buy immovable property in India without prior approval from the RBI, regardless of their residency status. They can, however, lease property for up to 5 years. This restriction does not apply to OCIs.

Citizens from Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal, Bhutan, Macau, Hong Kong, or North Korea (DPRK) cannot acquire or transfer immovable property in India without prior approval from the Reserve Bank, except for leases not exceeding five years, regardless of their residency status.

Foreign nationals of non-Indian origin residing in India (excluding the 11 countries mentioned above) are permitted to acquire immovable property.

Foreign nationals of non-Indian origin living outside India can lease immovable property for up to five years and can also acquire property in India through inheritance from a resident.

Yes, NRI/OCI can avail of loans from banks in India to purchase residential property.

A financial institution approved by the National Housing Bank (NHB) may grant a home loan to NRI/OCI to buy residential accommodation in India.

An NRI/OCI needs to submit:

• A self-attested copy of visa and passport.
• An address proof of the current overseas address. This includes - Utility bill, driving license, ID card, labour card, social card, etc issued by the authorities of that country, and the latest bank statement showing the address.
• PAN card
• Passport size photographs

For a hassle-free booking, you need to submit:

• Self-attested copy of PAN card
• Self-attested copy of OCI card
• Self-attested copy of passport
• Self-attested copy of address proof
• Self-attested copy of Visa (work permit)
• Registered Power of Attorney (if the allottee is not physically present in India to execute the documents)
• Passport size photographs

The following methods can be used by NRI/OCI:

• Funds received in India via banking channels through inward remittance from abroad.
• Funds held in their Non-Resident (External) Rupee Account, Foreign Currency Non-Resident (Bank) Account, or Non-Resident Ordinary Account in India, using standard methods such as cheques.
• Cheques issued from a bank if a home loan is obtained in India.

Payments cannot be made using traveler's cheques, foreign currency notes, or any other method not specifically mentioned above.

The following methods can be used:

• Funds received in India via banking channels through inward remittance from abroad.
• Funds held in their Non-Resident Account, maintained with the provisions of the Foreign Exchange Management Act, 1999 along with the regulations made by RBI.

Payments cannot be made using traveler's cheques, foreign currency notes, or any other method not specifically mentioned above.

NRIs and OCIs executing a Power of Attorney (POA) must follow these procedures: When POA is executed in India:

• Use non-judicial stamp paper with the appropriate value based on state stamp duty.
• Sign each page of the POA and initial any filled-in blanks. The attorney must sign on the last page.
• The POA must be notarized by a notary public.

When POA is executed outside India:

• Type the POA on plain paper. Sign each page and initial any filled-in blanks.
• The grantor's signature must be attested by an authorized official from the Indian Embassy, Indian Consulate, Trade Commissioner, banker, or lawyer in the grantor's country. These officials must stamp and sign the original POA, and the lawyer must provide their name, office address, and registration number by hand.
• The POA is then sent to India, where the attorney signs on the last page. Finally, it needs to be stamped and notarized by a notary public.