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Can NRI purchase a residential property within INDIA ?
6May2008 Filed under: Real EstateI m living out side india, and i enjoy OCI card. I hold plan to come stern & clutch a home within India . Can we buy home contained by India ?
Give a suggestion .
yes. even if u live out of india, if you are an indian citizen, i dont reckon near should be any problem surrounded by you buying a property in India.
Yes lot of places in adjectives over india to buy the residential property but you should be a human individual not similar to terrorist.
so adjectives the best
you can but I am not going to market you
If u hold an OCI card you are in adjectives respects a citizen on India. the singular 2 restrictions that are imposed are
1) U cannot Vote within India.
2) U cannot own agriculture domain contained by India.
Hence, you are at complete choice to buy any charitable of property contained by India. Your OCI card enable u to purchase and hold residential property surrounded by India. Best of luck for ur exotic home.
sure you can , u are also Indian
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riathareja
May 7th, 2008 at 5:01 am
Yes, the Indian government now has recognised the demands of the NRI and people of Indian origin to own piece of property over here in India and over a period of time what we have seen is that the investment is both for them to come back and some form of speculation because India as a market now is giving good returns and the economy is booming so a lot of people are looking to come back. The rules have been much simplified and it is become much easier to buy property for the NRIs.The new act FEMA (the Foreign Exchange Management Act) that is a vast difference from the regulation act (FERA) has made a tremendous difference in acquisition of property and sale of property and even repatriation of money if one has got property and he is selling it of. Overall things have improved for NRIs and it is a great time to be here.For more view- realtydigest.blogspot.com