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NRI Guide to Buy Property in India

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Aida Vroman
NRI Guide to Buy Property in India

Real estate market provides various opportunities to the Indians to invest in property, stock, and gold.  However, many of you might have come an across the question "Can NRIs buy property online in India?” or “Can NRI invest in Indian real estate market?” If yes, then what type of documents are necessary and which type of property can NRIs can buy online in India. Firstly let’s explore types of property in which NRI buyers can invest:

Now let’s explore the type documents NRIs need to buy property in India:

Being an NRI, if you have decided to invest in India then you are ready to move towards the procedure of buying property. For ensuring that the entire process to buy a property is smooth one must ensure that all the documents necessary for buying property are in hand. This is because documentation is the most important process involved in the process of property buying and it can also help in solving dispute which might arise in future. A non-residential Indian can buy a property without Aadhaar card in India but following are the documents without which the dream to buy a property in India might not be fulfilled:

OCI (Overseas Citizen of India) Card or Indian Passport: One of the most important documents you need to have in order to buy property in India being a non-residential Indian is Indian passport or OCI card. However, if you are a passport holder of some other country you are required to have a PIO (Person of Indian Origin) card. If you are not a citizen of India but are capable of becoming Indian Citizen and one of our parents in Indian then you are required to have OCI card which can be acquired from the Indian Embassy.

Pan Card: You need to be a PAN (Permanent Account Number) cardholder as you shall be required to file income tax returns for making investments in India. Moreover, PAN card is considered as a necessary document if an NRI wants to buy property in India.

As per the regulations of RBI, NRIs are allowed to invest in two types of property which include the following:

Residential property: Realtors sell property online free which includes residential property such as individual houses, apartments, housing complexes, etc. This type of property is generally purchased by the NRI buyers for living in India with family or for becoming a landlord.

Commercial property: NRI buyers can also buy commercial property such as hotels, office buildings, malls, farmland, retail stores, medical centres, garages, warehouses, multi-family housing buildings, etc. These types of commercial properties are considered to generate high profit or income for the NRIs.

Conclusion: Hence, NRIs can buy property online including commercial and residential property if they have important documents such as PAN card and OCI as discussed above.

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Aida Vroman
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