How can an NRI invest?
• Buying immovable property – Any Indian citizen who’s a resident outside India does not require any permission from the Reserve Bank of India for purchasing an immovable property, residential or commercial. Incase of NRIs holding foreign passport (Person of Indian Origin), the filing of relevant documents and declarations has to be done with the Reserve Bank of India. • Renting of immovable property – An NRI can earn by renting out his/her property in India. However, the proceeds out of this lease are taxable. • Foreign Direct Investment – No foreign investment is permitted in the Real Estate Sector, except for the development of integrated townships and settlements where FDI up to 100% is permitted with prior Government approval. NRIs are allowed, subjected to certain conditions to invest in the following activities: Development of serviced plots and construction of built up residential premises. • Entry norms – The foreign investor should have a Joint venture (JV) with Indian partne
