Non-Resident Indians can purchase residential and commercial property in India without RBI approval, but agricultural land, plantation property and farmhouses remain restricted.
What you can buy
- Residential apartments / villas / plots
- Commercial offices, shops, warehouses
What you cannot buy
- Agricultural land
- Farmhouses
- Plantation property
Funding the purchase
Use NRE / NRO / FCNR accounts. Home loans are available from major Indian banks at competitive rates.
TDS on sale
20% TDS applies on sale by an NRI. Apply for a lower-deduction certificate to reduce cash blockage.