NRI Real Estate and Property Investment in India
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NRIs/PIOs can acquire home in India
Monday, Nov 10, 2008

NRIs/PIOs can acquire residencial property in India; however a PIO who is a citizen of Pakistan, China or Bangladesh has restrictions in acquiring property. Also, NRIs and PIO cannot buy agricultural land, plantation property and farm house.

They can rent it out, transfer it, or sell it as well. They can take the rental income and their investments in the property out of the country, subject to the foreign exchange regulations.

Due to the relaxed conditions, NRIs can invest in property in India easily. A NRI is an Indian citizen residing outside India. A PIO is an individual who at any time held an Indian passport, or whose father or grandfather was a citizen of India.

 

 

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