Can NRIs/PIOs rent out the properties (residential/commercial) if not required for immediate use?
Yes. Reserve Bank has granted general permission for letting out any immovable property in India. The rental income or proceeds of any investment of such income is eligible for repatriation • Can NRIs obtain loans for acquisition of a house/flat for residential purpose from financial institutions providing housing finance? 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 NRI’s for acquisition of a house/flat for self occupation subject to certain conditions. The purpose of loan margin money and the quantum of loan will be at par with those applicable to housing loans to residents. Repayment of loan should be made within a period not exceeding 15 years out of inward remittances or out of funds held in the investor’s NRE / FCNR / NRO Accounts. • Can authorised dealer grant loans to NRIs for acquisition of a flat/house for residential purposes? Authorised dealers hav
A lease agreement can be reached in either of two ways, depending upon each case: • In cases where the lease contract is from year-to-year / exceeding one year’s rent / reserving yearly rent, then a registered instrument can be created, which both the lessor and the lessee must execute. • In cases other than the above, an oral agreement followed by delivery of possession is considered enough.
Related Questions
- Can the properties (residential / commercial) owned by NRIs be given on rent if not required for immediate use?
- Can NRIs/PIOs rent out the properties (residential/ commercial) if not required for immediate use?
- Can NRIs/PIOs rent out the properties (residential/commercial) if not required for immediate use?
