Reserve Bank of India has given permission to foreign citizens of Indian origin to sell a property. However, wherever the property is purchased, the funds towards the purchase consideration should be either remitted to India or the paid out of balances in NRE/FCNR accounts.
Reserve Bank of India permits you to rent out any immovable residential/commercial property in India. The rental income or proceeds of any investment of such income are eligible for repatriation.
You can either pay through rupee-denominated NRO or NRE and FCNR accounts. Loans are readily available and can be taken from any Indian bank within India, or from a branch of any Indian bank in your country of residence.
Within 90 days from the date of purchase, you will need to file a declaration in form IPI 7 with Central Office of Reserve Bank at Mumbai. You can also submit a final payment of purchase consideration along with a certified copy of a document evidence of transaction and the bank certificate of the consideration paid.
This disclaimer ("Disclaimer") is applicable to this website. By using or accessing this website you agree with the Disclaimer without any qualification or limitation. The Real Estate (Regulation and Development) Act, 2016, and Rules made thereunder (where notified) ("RERA") have come into effect from 1st May, 2017. The contents of this website may not be fully in line with RERA as of date. We are in the process of modifying, revising and updating this website in terms of the stipulations / recommendations under RERA, which shall be completed soon. Please telephone our sales centres or visit our sales office during office hours to speak to our sales team for verifying all the details, including area, amenities, services, terms of sales and payments and other relevant terms independently with the sales team/ company prior to concluding any decision for buying any unit(s) in the projects. The information contained on this website shall not be construed to be an advertisement. We thank you for your patience and understanding.