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Property Purchase Procedure for NRIs

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Property Purchase Procedure for NRIs

Last updated: June 8 2014
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  • Property Purchase Procedure for NRIs

    I am an Indian however not an Indian citizen, my father is. I just wondered what the legalities and point of call for information in regards to purchasing property in India for outside investors is?

    Is it different in different states or is it same universally in India?

    I am sure this topic has been covered but would appreciate some concrete information.

    Thanks very much.
  • #2

    #2

    Re : Property Purchase Procedure for NRIs

    Investing in real estate is not that simple for NRIs - Livemint

    Investment by Foreign Nationals in Immovable Property Situated In India | LawQuest

    http://profit.ndtv.com/news/your-mon...n-india-322344
    Last edited June 8 2014, 11:24 AM.
    Please read IREF rules | FAQ's

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    • #3

      #3

      Re : Property Purchase Procedure for NRIs

      Outside investor, from UK


      Leads me to believe it is absolutely possible, and the tax rate of 20% upon sale is not significant, even finding out I can finance part of a project sounds appealing.

      Are these assumptions correct? I can purchase any residential property in India however upon sale can't send more than $1M back to my home country, per year (which it'll never be anyways, I wish!), and 2 in my lifetime?

      I however am not classed as a NRI am I, do not hold a Indian passport, never have, and never been an Indian resident, purely a UK investor who happens to be Indian... Looking to invest in India ... I assume I am a PIO?
      Last edited June 8 2014, 11:36 AM. Reason: afditional info

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