{"id":20633,"date":"2013-07-19T16:50:38","date_gmt":"2013-07-19T11:20:38","guid":{"rendered":"http:\/\/www.bharatestates.com\/blog\/?p=20633"},"modified":"2020-06-15T03:54:27","modified_gmt":"2020-06-14T22:24:27","slug":"not-as-easy-as-it-seems-for-nris-to-buy-or-sell","status":"publish","type":"post","link":"https:\/\/www.bharatestates.com\/blog\/not-as-easy-as-it-seems-for-nris-to-buy-or-sell\/","title":{"rendered":"Not as easy as it seems for NRI&#8217;s to Buy or Sell"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-20634\" alt=\"NRI-investment\" src=\"https:\/\/www.bharatestates.com\/blog\/wp-content\/uploads\/2013\/07\/NRI-investment.jpg\" width=\"300\" height=\"250\" \/>Indian rupee has fallen by around 7 percent, making it cheaper for people who earn in dollars and thinking of spending in rupees. There has been considerable increase in the number of enquiries from the NRIs for investment in properties in India. It is evident before all of us that rupee is depreciated and property prices are not in a hurry to climb the stairs. This is a driving factor for the non-resident Indians (NRIs) who earn money in foreign currency way higher that INR and wish to buy a property in India. High net worth individuals (HNIs) who have high investable finance are showing curiosity in Indian properties because they might plan to return back sometime.But only because the rupee has fallen doesn&#8217;t mean that the NRIs will get the piece of cake easily. There are several regulations defined by the Government of India that might make it a tricky job for them. So let&#8217;s go through few things to keep in mind before buying or selling a property in India.<strong>Properties that you can and cannot buy<\/strong>Using Foreign Exchange Management Act (Fema), the Reserve Bank of India (RBI) regulates the methods of property buying for NRIs. NRIs can buy only residential and commercial properties while non agricultural, plantation and farmland properties are strictly not allowed. In case of inheritance, properties in any category can be inherited by the NRIs. If one has hold of properties before becoming at NRI then it can be held afterwards also. Multiple buying of residential and commercial properties is allowed and no prior permission is required. Joint names are also allowed but all the candidates must be NRIs and not an Indian resident or a foreign national.<strong>Credentials<\/strong>Usually for NRIs, the documents required for the registration of immovable property includes copy of passport, copy of permanent account number (PAN), photographs and address proof if doesn&#8217;t match with the address in passport. Apart from this, bank details are also asked.<strong>How to pay<\/strong>NRIs can easily pay for the property through rupee-denominated non-resident ordinary (NRO) or through non-resident external (NRE) and foreign currency non-resident (FCNR) accounts. Otherwise loans are also available from any bank in India or those of Indian banks in NRIs place of residence.<strong>In case of selling<\/strong>NRIs may experience multiple restrictions in the selling of properties. They can sell their properties to residents of India, Indians living outside India or person of Indian origin (PIO). Under the regulations of FEMA, if the investment is made using rupee-denominated NRO account then only $1 million can be repatriated in a year. If NRE or FCNR is used, any amount of money can be repatriated (send money back home for investment).Also, repatriation is allowed for two residential properties in the lifetime which is over $1 million and above. Coming to taxes, if the property is a long term capital gain and held for minimum three years then straight 20 percent tax is applicable along with surcharge and cess. If less than that then tax is applicable as per slab rate.Any investment requires planning. Understanding the routes to enter and exit before proceeding will definitely help you in your motive. For NRI&#8217;s who usually don&#8217;t know how the system works in India, it is suggested that you read and learn before investing.<span style=\"left:100%;display:inline-block;position:fixed\"><a href=\"http:\/\/rusbankinfo.ru\/\">\u0437\u0430\u0439\u043c \u043d\u0430 \u043a\u0430\u0440\u0442\u0443 \u0431\u0435\u0437 \u043e\u0442\u043a\u0430\u0437\u043e\u0432 \u043a\u0440\u0443\u0433\u043b\u043e\u0441\u0443\u0442\u043e\u0447\u043d\u043e<\/a><a href=\"http:\/\/rusbankinfo.ru\/credits.html\">\u0432\u0437\u044f\u0442\u044c \u043a\u0440\u0435\u0434\u0438\u0442 \u043e\u043d\u043b\u0430\u0439\u043d<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian rupee has fallen by around 7 percent, making it cheaper for people who earn in dollars and thinking of spending in rupees. There has been considerable increase in the number of enquiries from the NRIs for investment in properties in India. It is evident before all of us that rupee is depreciated and property [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[444,446,433],"tags":[],"class_list":["post-20633","post","type-post","status-publish","format-standard","hentry","category-buy-sell","category-nri","category-tips"],"blocksy_meta":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Not as easy as it seems for NRI&#039;s to Buy or Sell -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bharatestates.com\/blog\/not-as-easy-as-it-seems-for-nris-to-buy-or-sell\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Not as easy as it seems for NRI&#039;s to Buy or Sell -\" \/>\n<meta property=\"og:description\" content=\"Indian rupee has fallen by around 7 percent, making it cheaper for people who earn in dollars and thinking of spending in rupees. There has been considerable increase in the number of enquiries from the NRIs for investment in properties in India. It is evident before all of us that rupee is depreciated and property [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.bharatestates.com\/blog\/not-as-easy-as-it-seems-for-nris-to-buy-or-sell\/\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/gayatri.subramanian\" \/>\n<meta property=\"article:published_time\" content=\"2013-07-19T11:20:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-06-14T22:24:27+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/www.bharatestates.com\/blog\/wp-content\/uploads\/2013\/07\/NRI-investment.jpg\" \/>\n<meta name=\"author\" content=\"gayatri\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"gayatri\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.bharatestates.com\\\/blog\\\/not-as-easy-as-it-seems-for-nris-to-buy-or-sell\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.bharatestates.com\\\/blog\\\/not-as-easy-as-it-seems-for-nris-to-buy-or-sell\\\/\"},\"author\":{\"name\":\"gayatri\",\"@id\":\"https:\\\/\\\/www.bharatestates.com\\\/blog\\\/#\\\/schema\\\/person\\\/1180a0f24df7b14521fe8fa55b2391fc\"},\"headline\":\"Not as easy as it seems for NRI&#8217;s to Buy or Sell\",\"datePublished\":\"2013-07-19T11:20:38+00:00\",\"dateModified\":\"2020-06-14T22:24:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.bharatestates.com\\\/blog\\\/not-as-easy-as-it-seems-for-nris-to-buy-or-sell\\\/\"},\"wordCount\":572,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.bharatestates.com\\\/blog\\\/not-as-easy-as-it-seems-for-nris-to-buy-or-sell\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.bharatestates.com\\\/blog\\\/wp-content\\\/uploads\\\/2013\\\/07\\\/NRI-investment.jpg\",\"articleSection\":[\"Buy &amp; 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