Please contact your nearest local representative on the following numbers:

• Middle East: +9714 3689797 (Dubai office) or toll free 800 447 266
• United States: +1 484 885 9910
• London: + 44 207 127 4601

General Guidelines

• We encourage you to obtain informed regulatory and financial advice before entering into any financial commitments. Further detailed information can also be found on the web site of the Reserve Bank of India. To be able to freely purchase immovable property in India under the general permission, you must be either a NRI or a PIO as defined below:

Definitions

NRI (Non Resident Indian)

1. An Indian citizen who stays abroad for employment/carrying on business or vocation outside India or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad as a non-resident. (Persons posted in UN organisations and officials deputed abroad by Central/state governments and public sector undertakings on temporary assignments are also  treated as non-residents).

PIO (Person of Indian Origin)

1. You have held and Indian passport at any time
2. Your father or paternal grandfather was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1995 (57 of 1995)
3. You are not a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal or Bhutan.

The General Permission allows NRI's and PIO's to:

1. Purchase residential and commercial property in India without restrictions on the number of properties that can be purchased.
2. Acquire commercial or residential property in India by gift from residents of India and other NRIs and PIOs.
3. Sell or gift your property to a person resident in India, an NRI or a PIO.
4. Mortgage your property to:
   • An authorised dealer or housing finance institution in India.
   • A party abroad, with the prior approval of the Reserve Bank
5. Rent out your property without restriction. Rental income received can be   credited to NRO/NRE account or remitted abroad. You should ensure that any applicable taxes are paid or provided for.
6. Regulations concerning Fund transfers

Payments for your property can only be made from:

1. Funds remitted to India through normal banking channels
2. Funds held in NRE/FCNR(B)/NRO accounts maintained in India
3. Provided the funds used to buy your property have originated from NRE/FCNR(B)/NRO accounts, you can repatriate the sales proceeds (up to the amount for which the property was purchased) outside India in foreign exchange to accounts denominated in a foreign currency.
4. If you used Rupee resources to buy your property and/or the loan is being repaid by close relatives in India (as defined in Section 6 of the Companies Act 1956) then you can credit the funds to your NRO account.
5. You can repatriate up to one million US dollars each financial year from your NRO account, subject to tax compliance.
6. Capital gains, if any, may be credited to the NRO account.

Foreign Nationals of non-Indian origin

1. Foreign Nationals resident outside India cannot purchase any immovable property in India nor can they be a joint holder with an NRI or PIO of immovable property.
2. Foreign Nationals resident in India may be able to invest in immovable property    subject to obtaining approvals, and fulfilling any requirements required by other authorities, such as the relevant State Government, etc.
3. If you are a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal or Bhutan you will require prior approval of the RBI.