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Can NRIs/PIOs rent out their commercial property in India?

April 26, 2017Commercial India NRIs Property rent

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Can NRIs/PIOs rent out their commercial property in India?

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Yes. NRIs/PIOs can freely rent out their property in India without seeking any permission from the Reserve Bank. The rental income being a current account transaction can be repatriated outside India. 14. What about refund of purchase consideration on account of non-allotment of office space/cancellation of bookings/deals in respect of commercial property purchased by NRIs / PIOs in India. With a view to allow credit to NRE/FCNR account of refund of purchase consideration by seller on account of cancellation of bookings/deals for purchase of commercial property, the RBI has sorted out a few clarifications.