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NRI Guide
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We offer you a better understanding of documents, checklists and laws in India that will make your purchase an easier one.

For Indians abroad, owning property in India is a dream. One that comes with many questions. Our team understands the specific requirements and needs of NRIs, and are here to guide you to the perfect home. If, after reading this section, you have queries, please feel free to reach out to us.

RBI GUIDELINES
Permission for purchase of property

NRIs holding Indian passports—No permission required

NRIs holding foreign passports—Intimation to RBI via form IPI - 7 within 90 days of purchase of property or final payment of consideration. Funds through NRE/NRO accounts.

 
SALE OF PROPERTY
Property held by NRIs in India can be sold. No permission is required from the Reserve Bank of India.
 
REPATRIATION OF SALE PROCEEDS

Repatriation of proceeds from sale of residential property purchased on or after 26th May 1993 is allowed.The RBI will consider repatriation of the consideration amount remitted in foreign exchange for the acquisition of 2 properties. The sale has to have taken place after 3 years from the date of final purchase deed or from the date of final payment.

Application of repatriation (IPI-8) has to be done within 90 days of the sale of the property.

 
INCOME FROM PROPERTY

NRIs can let out immovable property in India. The rental income from the investment has to be credited to the NRO account.

i. Subject to changes from time to time ii .E. & O.E

DOCUMENTS CHECKLIST NRI ACCOUNTS
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