Buying Property in India, Simplified

For Non-Resident Indians looking to invest back home, buying property in Mumbai or Thane from abroad can feel complicated — different rules, remote paperwork, and the worry of getting it wrong. Verentra Homes has helped NRI families navigate this process for over a decade, working directly with developers to make it straightforward.

Can NRIs legally buy property in India?

Yes. Under the Foreign Exchange Management Act (FEMA), 1999, NRIs and OCI cardholders can freely purchase residential and commercial property in India without prior RBI approval. The only restriction is on agricultural land, plantation property, and farmhouses, which can only be acquired through inheritance.

Documents you'll need

• Valid passport
• PAN card (mandatory for property registration in India)
• OCI or PIO card, if applicable
• Overseas address proof
• Passport-size photographs

How payments work

All payments must be made through proper banking channels — an NRE, NRO, or FCNR account, or via direct inward remittance. Cash payments and foreign currency notes are not permitted under FEMA.

Buying remotely with a Power of Attorney

Most NRIs cannot be physically present for every step of a purchase. A Power of Attorney (PoA), properly attested at an Indian consulate or embassy and adjudicated in India, allows a trusted representative to sign documents on your behalf. We help coordinate this process with your lawyer.

Repatriating your money later

If you decide to sell, NRIs can typically repatriate sale proceeds up to USD 1 million per financial year through an NRO account, or the full amount if the property was originally funded through an NRE account or direct foreign remittance, subject to RBI conditions and tax compliance at the time.

Taxes to keep in mind

TDS applies when an NRI sells property in India, and rates depend on the holding period and applicable surcharge and cess. Rental income earned in India is also taxable here. Tax rules change with each Union Budget, so we always recommend confirming your exact liability with a chartered accountant before you buy or sell.

How Verentra Homes helps

• Virtual property tours and video walkthroughs
• Direct coordination with developers on your behalf
• Help verifying a project's MahaRERA registration and status
• Introductions to trusted legal and tax professionals for documentation

This page is for general informational purposes only and does not constitute legal, tax, or financial advice. FEMA, RBI, and tax rules can change; please consult a qualified chartered accountant and lawyer for advice specific to your situation, and verify current regulations on the RBI's official website.