Avaasa - Luxurious projects in perfect locations for valuable real estate.
Our quality-conscious approach delivers beyond your expectations. As an NRI, we believe in maximizing every advantage of investing in your motherland, and support your every query related to property purchase. Our staff is always ready to help.
Documents Needed for NRIs to Purchase Land:
- Power of attorney in the name of a person residing in India.
- Your PAN Card
- Passport copy (In case PAN card is unavailable)
- An NRE or NRO account to carry out transactions
India is a fertile ground for property investment, for domestic and international investors. The Land Acquisition act, relaxation in FDI rules and Real Estate Regulatory Bill have made it so that NRIs benefit more and more in the domain of property purchase. The RBI grants permission to NRIs to trade land through foreign exchange through Indian Banks, or through NRE/FCNR accounts. A copy of purchase documents must be submitted to the RBI central office within a period of 90 days post the purchase. No official permissions are required for the purchase, making it an easy affair.
Eligibility Criteria:
Any NRI residing outside of India at the moment, PIO (Person of Indian Origin) who has held an Indian passport at any point, or someone whose father or grandfather was an Indian citizen according to the Constitution of India or the Citizenship Act 1955.
Avaasa One builds prime residential and commercial projects, with a focus on making them lucrative investment options for NRIs. We have ensured to make your purchase journey as friendly and efficient as possible.
Enquire NowFAQ's
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Who is an NRI?
An NRI (Non Resident Indian) is an Indian citizen who works abroad or carrying vocation outside India for an uncertain duration is a non-resident. -
Who is a PIO?
Person of Indian Origin or PIO is a person, who at any time held Indian passport, or he or his parents / grandparents were Indian citizen as per the Constitution of India or Citizenship Act, 1955. -
Can an NRI buy immovable property in India?
Yes, as per the general permission granted by RBI, an NRI can buy immovable property in India without any obstacles. -
Can a PIO buy immovable property in India?
Yes, a PIO is eligible to buy property in India. -
What are the taxes applicable for the income generated from the property?
Any income accumulated from the ownership of the property, either in the form of rent or annual value of the property or the capital earned upon the sale of the property is taxable. -
Can an NRI sell his property in India without the RBI’s permission?
No, NRIs cannot do so. -
Can an NRI obtain or give off residential properties by means of gift?
Yes, NRIs are allowed to obtain or give off properties by way of gifts to anyone who may be a citizen of India or a PIO. -
Can an NRI get loan for purchasing a property in India?
A certain institutions like LIC Housing Finance Ltd., HDFC, etc. have been granted general permission to provide housing loans to NRIs. -
Can an NRI buy commercial property in India?
Yes, properties other than agricultural lands/ plantation property/ farmhouses can be bought by NRIs.
Ease of Buying
We utilize a highly streamlined process that makes investing in property a breeze.
Customer Satisfaction
Highly lucrative properties await your investment, with satisfaction guaranteed.
Accessible Support
Our team is readily available at your convenience, clearing any hurdles in your way.