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Can NRIs obtain loans for acquisition of a house / flat for residential purpose from financial institutions providing housing finance?

April 26, 2017acquisition financial institutions flat House Loans NRIs obtain providing purpose Residential

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Can NRIs obtain loans for acquisition of a house / flat for residential purpose from financial institutions providing housing finance?

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Ans. Reserve Bank has granted general permission to certain financial institutions providing housing finance e.g. HDFC, LIC, Housing Finance Ltd., etc. To grant housing loans to non-resident Indian nationals for acquisition of a house / flat for self-occupation subject to certain conditions.

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Yes. NRIs can obtain loans from banks / housing finance institutions for acquiring house / flat for residential purpose. Top • Can authorized dealer grant loans to NRIs for acquisition of a flat / house for residential purposes? Authorised Dealers (banks) can also grant loans to NRIs for acquisition of a flat / house, for residential purpose, subject to the terms and conditions specified under Regulation 8 of Notification No. FEMA 4 /2000 RB dated 3rd May 2000.