NRI benefits from investment and also the organisation varied experience in the development industry.
|On a property valued at Rs. 50 lacs||Save up to $15000|
|On a property valued at Rs. 100 lacs||Save up to $30000|
|On a property valued at Rs. 200 lacs||Save up to $60000|
*Approximate savings at US $=Rs.58.6,as compared to US $=Rs.62
An Indian citizen who stays abroad for employment/carrying on business or vocation outside India or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a non-resident. (Persons posted in U.N. organisations and officials deputed abroad by Central/State Governments and Public Sector undertakings on temporary assignments are also treated as non-temporary assignments are also treated as non-residents). Non-resident foreign citizens of Indian origin are treated on par with non- resident Indian citizens (NRIs).
A person of Indian origin means an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan) who:
NRIs/OCB's are granted the following facilities:
Under the general permission available, the following categories can freely purchase immovable property in India:
The general permission, however, covers only purchase of residential and commercial property.
Yes, the Reserve Bank has granted general permission to NRIs to acquire or dispose of NRI India Properties by way of gift from or to a relative who may be an Indian citizen or a person of Indian origin (PIO) whether resident in India or not.