Any limits for NRI while buying property

Q: Hi...my cousin is NRI...he wants to buy property in India..is there any limit..??

Kaushik Bardia,

12th January 2013

Buying property in Chennai

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buying property in india

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In terms of types of property, yes there is. Agricultural and large land for plantations is not for NRIs, while there is no limit with residential property and land, there may be certain restrictions, depending on subjective laws. There are permissions that need to be taken and processes that need to be followed when acquiring land in India, as an NRI. While you need external professional help like an agent or broker, it is always better to eliminate them and directly opt for developers that provide these services themselves. There are real estate firms that do this, and value NRI investment and big reputed names at that, mahindra lifespaces is one such company.

shyam s,

24th December 2015

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Hi Kaushik...if you are purchasing a property by your NRE account then you can only repatriate the amount that you have spend on acquiring the property. I hope you know that here the restriction is that you can only repatriate money for two residential properties But if you use your NRO account then the restriction is more i.e you cannot repatriate that money for ten years and on the payment of taxes you can take your money back. And if you but property in the name of you parents then it becomes your inhereted property and for this the government allows you to repatriate almost 4 crore in a year. Furthermore if you have any confusion, it is best to take a legal advice from property lawyers.

Kamal, Kochi

14th January 2013

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