NRI Corner

Everything an NRI needs to know about owning property back home.

We offer you a better understanding of documents, checklists and laws in India that will make your purchase an
easier one.

For Indians abroad, owning property in India is a dream. One that comes with many questions. Our team understands the specific requirements and needs of NRIs, and are here to guide you to the perfect home. If, after reading this section, you have queries, please feel free to reach out to us.


Reserve Bank of India (RBI) Guidelines on NRI Investment in properties in India

aPermission for purchase of residential property / Commercial property

NRIs holding Indian passports—No permission required

NRIs holding foreign passports—Intimation to RBI via form IPI - 7 within 90 days of purchase of property or final payment of consideration. Funds through NRE/NRO accounts.


Property held by NRIs in India can be sold. No permission is required from the Reserve Bank of India.


Repatriation of proceeds from sale of residential property purchased on or after 26th May 1993 is allowed.

The RBI will consider repatriation of the consideration amount remitted in foreign exchange for the acquisition of 2 properties. The sale has to have taken place after 3 years from the date of final purchase deed or from the date of final payment.

Application of repatriation (IPI-8) has to be done within 90 days of the sale of the property.


NRIs can let out immovable property in India. The rental income from the investment has to be credited to the NRO account.
i. Subject to changes from time to time ii .E. & O.E

Definition of PIO

A Person of Indian Origin (PIO), a foreign citizen (except a national of Pakistan, Afghanistan Bangladesh, China, Iran, Bhutan, Sri Lanka and Nepal) who at any time held an Indian passport.

Who has either of their parents/ grand-parents/ great grand-parents born and permanently residing in India as defined in Government of India Act, 1935 and other territories that became part of India thereafter provided neither was at any time a citizen of any of the aforesaid countries
(as referred above);

Who is a spouse of a citizen of India or a PIO.


1 Duly filled NRI home loan application form with photograph of the applicant and co-applicant. Note – Sign the photo across so that half the signature is on the application, and the other half on the form.
2 Copies of valid passport, valid Visa copies, overseas residential address proof and driving license. All to be self-attested and notarised.
3 Copy of all pages of passport – self-attested.
4 Latest 6 months bank statements showing salary credit – self-attested.
5 Latest 6 months NRE/NRO account bank statements – self-attested.
6 Latest 6 months salary slips– self-attested.
7 3 years employment continuity proof.
8 Latest (3 years) Income Tax related documents.
9 OCI/PIO Card copy for applicant and co-applicant – self-attested and notarised.
10 Work permit/ Contract copies.
11 Power Of Attorney in Bank Format by applicant and co-applicant to be executed in the current residing country and to be notarised.
12 Address proof, ID proof, 3 passport size photographs and signature proof of GPA holder.
13 Cheque from NRE account or NRO account Admin Fee (CTS 2010 cheque).
14 Repayment track record, if any loans exists.
15 Credit report with credit score for applicant and co-applicant. (For US and Europe).
Post Sanction: (From the Builder)
1 Sale Agreement and Construction Agreement from the Builder.
3 Cost Break-up Letter
4 Receipt of Own contribution
Post Sanction: (From the Customer)
1 6 Cheques (CTS2010) from NRE / NRO account, undated security cheques. No corrections or over writings permitted on the cheques.
2 ECS/ACH/NACH Form in Bank/HFC Format. Auto debit in case of repayment from NRE/NRO account.
Note: All documents should be self-attested by the applicant and co-applicant respectively.