in the prescribed form NRI Corner | Shapoorji Pallonji


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Parkwest - Bengaluru

SP Residency - Pune

Vicinia - Mumbai

Codename Mumbai Dreams - Mumbai

SP Infocity - Manesar

SP Infocity - Pune

SP Infocity - Nagpur

SP Infocity - Mohali

JoyVille Howrah

JoyVille Hingewadi

JoyVille Virar

JoyVille Gurgaon

The Designate - Mumbai

Northern Lights - Thane

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Committed
to Transparency.

Some legal information for
NRIs along with frequently
asked questions about property
transactions in India.

Legal information

Sale

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.

Renting

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.

Finance

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.

Formalities

Within 90 days from the date of purchase, you will need to file a declaration in the prescribed form 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.

Documentation

Passport, proof of residence and PAN card.

Frequently asked questions



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Parkwest - Bengaluru

SP Residency - Pune

Vicinia - Mumbai

Codename Mumbai Dreams - Mumbai

SP Infocity - Manesar

SP Infocity - Pune

SP Infocity - Nagpur

SP Infocity - Mohali

JoyVille Howrah

JoyVille Hingewadi

JoyVille Virar

JoyVille Gurgaon

The Designate - Mumbai

Northern Lights - Thane

Comments

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