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Can an NRI / PIO invest in Immovable Property in India?

April 26, 2017immovable India invest NRI PIO Property

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Can an NRI / PIO invest in Immovable Property in India?

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As an NRI, Non Resident Indians are allowed to acquire property in India so long as it is not agricultural / plantation property or a farmhouse. Non Resident Indians may acquire property for the purpose of developing land into buildings / housing complexes. As a PIO, Non Resident Indians can acquire immovable property other than agricultural land / farm house / plantation property in India out of repatriable funds. For Reserve Bank’s frequently asked questions please visit www.rbi.org.