By Jaiprime Research Desk · Reviewed by Rishabh GargUpdated NRIs most often ask whether they can buy farmland (no), plots (yes), how to pay (NRE/NRO/FCNR or remittance), whether they must travel (no, with a specific POA), and how to repatriate sale proceeds (up to USD 1 million a year from NRO, with tax paid). The answers are below.
Yes: flats, houses, residential and commercial plots, shops. No limit on number.
No. NRIs and OCIs cannot buy agricultural land, plantation property or farmhouses. You can inherit them.
From NRE, NRO or FCNR accounts, or by inward remittance. Not in foreign cash.
No, if you give a specific power of attorney. How.
Yes, from Indian banks for residential property, repaid from your NRE/NRO account.
You can buy in your name and let them live there, or they can buy with your help. Take tax advice.
Broadly the same rules as NRIs for property.
Capital gains tax, with TDS deducted by the buyer. Rates depend on holding period; take current advice.
Up to USD 1 million per financial year from NRO balances, with Forms 15CA/15CB. Residential sale proceeds are repatriable for up to two properties.
Video site visits, document checks, POA guidance, registration and rental management. NRI guide.
Video site visits, document checks and registration by power of attorney, handled end to end.
This page is general information, not legal or financial advice. Rules and rates change: confirm with the relevant office before you transact.