All the documents NRIs will need when buying real estate in India

As an NRI you will not need any special permission to buy an immovable property. However, while you can buy residential or commercial property you cannot purchase agricultural plots, farmhouses or plantations.

For NRIs planning to buy property in India, time could not have been better. While India's real estate sector has seen a price correction in the recent past, buying property in India has become more lucrative with favourable currency rates.

As an NRI you will not need any special permission to buy an immovable property. However, while you can buy residential or commercial property you cannot purchase agricultural plots, farmhouses or plantations.

What you will need before you buy real estate

(Join our ETNRI WhatsApp channel for all the latest updates)

• Passport and/or OCI card: You will need to show your Indian passport. If you hold a foreign passport, you can buy property in India provided you have a PIO (Persons of Indian Origin) card or an OCI (Overseas Citizen of India) card.
• PAN Card: This is mandatory for property transactions.
• Power of attorney: You need to also provide a power of attorney, in case you are not available in India for executing the purchase transaction. Please note that you will need a special power of attorney which is registered and notarized and not a general power of attorney to execute a property transaction.

Artificial Intelligence(AI) Java Programming with ChatGPT: Learn using Generative AI By - Metla Sudha Sekhar, Developer and Lead Instructor View Program

Artificial Intelligence(AI) Basics of Generative AI : Unveiling Tomorrow's Innovations By - Metla Sudha Sekhar, Developer and Lead Instructor View Program

Artificial Intelligence(AI) Generative AI for Dynamic Java Web Applications with ChatGPT By - Metla Sudha Sekhar, Developer and Lead Instructor View Program

Artificial Intelligence(AI) Mastering C++ Fundamentals with Generative AI: A Hands-On By - Metla Sudha Sekhar, Developer and Lead Instructor View Program

Artificial Intelligence(AI) Master in Python Language Quickly Using the ChatGPT Open AI By - Metla Sudha Sekhar, Developer and Lead Instructor View Program

Office Productivity Zero to Hero in Microsoft Excel: Complete Excel guide 2024 By - Metla Sudha Sekhar, Developer and Lead Instructor View Program

Data Science SQL for Data Science along with Data Analytics and Data Visualization By - Metla Sudha Sekhar, Developer and Lead Instructor View Program

Web Development A Comprehensive ASP.NET Core MVC 6 Project Guide for 2024 By - Metla Sudha Sekhar, Developer and Lead Instructor View Program

Office Productivity Mastering Microsoft Office: Word, Excel, PowerPoint, and 365 By - Metla Sudha Sekhar, Developer and Lead Instructor View Program

Finance Financial Literacy - TDS, Budget, Income Tax Act, GST, Indirect tax By - CA Rahul Gupta, CA with 10+ years of domain experience, trainer View Program

Marketing Future of Marketing & Branding Masterclass By - Dr. David Aaker, Professor at Haas School of Business View Program

HR & People Management Human Potential and the Future of Employment By - Lynda Gratton, Co-chair of the World Economic Forum Council on Work, Wages and Job Creation, Professor of Management Practice View Program

Strategy ESG and Business Sustainability Strategy By - Vipul Arora, Partner, ESG & Climate Solutions at Sattva Consulting Author I Speaker I Thought Leader View Program

Finance Financial Reporting and Analytics By - Dr. C.P. Gupta, Professor: Department of Finance and Business Economics, University of Delhi View Program

4 tips every NRI needs to know about retirement planning

How can you fund your purchase?
You can fund your property purchases through inward remittances or through funds in a non-resident account. You can also take a home loan.

• Copy of Indian passport and visa
• In case an Indian passport in unavailable
• PIO card if you hold a foreign passport
• OCI card if your parents are citizens of India
• Work permit / employment contract / appointment letter of your country of residence
• Latest salary certificate / Payslips for the last six months
• Latest income tax returns
• Bank statement of NRE and NRO accounts for the last 1 year
• Bureau report of country of residence
• Power of attorney (in case you are not in India for executing the purchase transaction)

• Title deed (in the seller’s name). Some states have specific paperwork that you need to be aware of.
• Approved plan
• Building permit
• Occupation certificate (in case it is a ready building)
• Older title deeds, if any
• Updated encumbrance certificate
• Share certificate (in case it is a cooperative housing society)
• NOC from the society
• RERA registration (if applicable)
• If these documents are in order, then you can proceed to prepare the sale agreement for purchasing the property.

Five tips to help NRIs optimise tax savings while living and earning abroad

Read More News on

Subscribe to The Economic Times Prime and read the ET ePaper online.

Read More News on

Subscribe to The Economic Times Prime and read the ET ePaper online.

Videos

• CJI warns advocate over demeanour in RG Kar case
• Kolkata RG Kar case: CJI lambasts Mamata govt

Test Guide

Navigating the SAT Math section: Tips and strategies for test takers

Exams around the world: From flexible formats in the US & UK to high-stakes, single-window exams in China & South Korea

Master Your English Skills: How to ace the TOEFL Test for foreign admissions

ETS launches TOEFL India Championship for study abroad aspirants

Trending in US

• Apple Event 2024 Live UpdatesRealme Narzo 70 Turbo 5G, Buds N1GST Meeting Key ExpectationsSensex Today
• Kalindi Express Latest NewsStocks in NewsTolins Tyres IPOKross IPO
• Bajaj Housing Finance IPOVladimir Putin NewsVinesh Phogat joins CongressSBI Share Price
• Rama Steel Share PriceMadhabi Puri BuchGanesh Chaturthi 2024 WishesKamala Harris
• Hartalika Teej 2024Duleep Trophy 2024 Squads DetailsDarshan Renukaswamy Murder Case UpdateReliance Bonus Shares
• PM Modi NewsSheikh Hasina NewsPresvu Eye DropsSensex Today
• Teacher's Day 2024 Speech Ideas: Tips to prepare and deliver a memorable speech to impress your mentorsGoogle Android 15Passport Seva Website TodayHaryana Elections 2024 Bajrang Punia
• Madhabi Puri BuchWTC Points Table Update

Popular in NRI

• Why you may need a Schengen Visa on your next trip to the US or Canada
• Airline directed to pay Rs 1.67 lakh to student barred from Canada-bound flight due to Schengen visa confusion
• Canada is running out of jobs for newcomers
• A holiday in Greece will soon become more expensive; add in extra costs if you want to visit Santorini, Mykonos
• South Africa's new visa scheme gives Indians 90-day visa-free access

Latest from ET

• What is the better MF plan for this market, SIP or lumpsum?
• Why India is better off inside trade deals than out
• Latest GST decisions taken by Sitharaman & Co