NRI Corner | Buy Property in India from Abroad

Buying a home in India from abroad

Many Non-Resident Indians want a home back in India, for family, for a future return or as an investment. Buying from thousands of kilometres away raises fair questions. Which project can you trust, how do you see it, and how do the payments and paperwork work? Propmonk helps NRI buyers answer each of these, and our advice costs you nothing.

How we help NRI buyers

Shortlisting on your timetable. We call or message at a time that suits your time zone, and send a shortlist that matches your budget, city and home size.
Price lists, brochures and floor plans. You get the documents for each shortlisted project, so you can compare them properly from wherever you are.
Virtual site visits. We arrange video walkthroughs of the site, the sample flat and the neighbourhood, and answer questions live.
Visits for your family. If parents or relatives in India want to see a project, we arrange their site visit and keep you updated.
RERA checks. We show you each project's RERA registration and how to verify it yourself on the state RERA website.
Booking and paperwork. We guide you through the booking form, KYC documents, the allotment letter and the agreement for sale.
Home loan guidance. We explain how NRI home loans work and help you compare lenders.
Power of Attorney. If you cannot travel for registration, we explain how a Power of Attorney lets someone you trust act for you.

Can NRIs buy property in India?

Yes. Under India's foreign exchange rules, NRIs and Overseas Citizens of India can buy residential and commercial property without special permission from the Reserve Bank of India. There is no limit on the number of homes you can buy.

Agricultural land, plantation property and farmhouses are the exception. NRIs cannot buy these, except by inheritance. This is worth checking when you look at farm plots or plantation projects.

Paying for your home

Payments must come through normal banking channels. You can pay from your NRE, NRO or FCNR account in India, or by inward remittance from abroad. Payment in foreign currency cash or by traveller's cheque is not allowed.

Keep a record of every transfer. You will need it later, especially if you sell the home and want to send the money back abroad.

Home loans for NRIs

Most banks and housing finance companies in India offer home loans to NRIs. Lenders usually look at your overseas income, your employment and the documents from your country of residence. EMIs are repaid from your NRE or NRO account.

Use our EMI calculator for a first estimate, then speak to an advisor about eligibility and the lenders worth comparing.

Documents you will usually need

Passport and a valid visa or OCI card.
PAN card, which is needed for property purchase and tax.
Overseas address proof and passport-size photographs.
Details of your NRE or NRO bank account.
For a home loan: salary slips, employment contract and bank statements, as the lender asks.

Registering the home through a Power of Attorney

Registration of the sale agreement and the sale deed usually needs the buyer in person. If you cannot travel, you can give a Power of Attorney to a family member or someone you trust.

A Power of Attorney signed abroad usually needs to be attested at the Indian embassy or consulate. It must then be adjudicated for stamp duty in India within the time allowed. Make it specific to the property and the tasks involved.

Tax and selling later

Rental income from your Indian home is taxable in India. When an NRI sells property, the buyer must deduct tax at source from the payment. Sale proceeds can be sent abroad within the limits set by the Reserve Bank of India.

Tax rules change, and your country of residence may tax the same income. Speak to a chartered accountant before you buy, and again before you sell.

Cities we cover

Bangalore has our widest choice of projects, from Whitefield and Sarjapur Road to Hebbal and North Bangalore. We also cover Chennai, Hyderabad, Pune, Mumbai, Kochi, Mangalore, Coimbatore, Mysore and Goa.

Talk to an NRI property advisor

Choose your country code, then share your name and mobile number. An advisor will reach you at a time that suits your time zone, by call or WhatsApp.