Can NRIs Buy an Apartment in India While Abroad? Hell Yes!

So, you’re lounging on a sofa somewhere far from the motherland, sipping on something strong, and you get to thinking, “Maybe I should buy an apartment back in India.”

Maybe you’re feeling nostalgic, or maybe you’re just savvy about securing an investment that doubles as a reason to visit home more often.

Good news! As an NRI (Non-Resident Indian), not only can you buy property in India, but the process is also quite streamlined to encourage investments from folks like you.

Let’s break down how you can grab a piece of home, even when you’re miles away.

The Green Light for NRIs: Buying Property in India

Yes, You Can!

First things first: NRIs have the green light to purchase residential or commercial properties in India.

There’s no need to obtain any special permission, and you don’t even have to be in India to complete the purchase.

The only no-go zone?

Agricultural land, plantations, and farmhouses—these are off-limits unless they’re inherited or gifted.

How to Buy an Apartment in India from Abroad

Step 1: Sort Your Finances

  • Funding the Purchase: You can pay through funds received in India or funds remitted from overseas through any bank channel. Ensure your bank account is an NRE (Non-Resident External) or NRO (Non-Resident Ordinary) account.
  • Loan Options: Feeling a pinch? You can avail of housing loans in India. The paperwork can be processed from abroad, and the loan can be repaid using funds in your NRE/NRO account or through remittances.

Step 2: Property Hunt

  • Remote Research: Thanks to the internet, you can start your property hunt online. Sites like 99acres, MagicBricks, and can be your initial playgrounds.
  • Local Contacts: Have trusted friends or family in India? Get them on board to check out properties on your behalf. Nothing beats having someone you trust verify the details.

Step 3: Due Diligence

  • Legal Check: Make sure the property has clear titles and no legal dues. Hiring a local lawyer to run a check can save you a ton of headaches later.
  • Verify Builder Credibility: If you’re buying a new apartment, research the builder’s reputation and past projects.

Step 4: Paperwork from Afar

  • Power of Attorney (PoA): Can’t make it to India for the property purchase process? No problem. You can give someone in India the power of attorney to complete the process on your behalf. This legal document can be notarized and sent to your representative in India.
  • Property Registration: The final step is the registration of the property. If you have a PoA, your representative can handle this. Otherwise, plan a trip home to sign the papers in person.

Summary: Your Indian Home, Just a Few Steps Away

Buying an apartment in India while living abroad isn’t just possible; it’s pretty doable with the right preparation and support.

Whether it’s for investment purposes or to have a home waiting for you whenever you decide to visit or even move back, owning property in India can be a wise and emotionally rewarding decision.

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Mani Karthik

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Mani Karthik

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I help business grow & scale. Have helped 15+ companies scale in US, Middle East and India.
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