Yes, foreign nationals of Indian origin, whether resident in India or abroad, have general permission to purchase immovable property in India.

Payment should be made via inward remittances in foreign exchange through normal banking channels or out of funds in NRE/FCNR accounts maintained with banks in India.

No special permission is required to transfer property (except agricultural, plantation, or farmhouse) to another NRI or PIO.

NRIs/PIOs can repatriate sale proceeds of property purchased with foreign exchange up to the amount paid for the property. Repatriation of residential property is limited to two properties. Capital gains may be credited to an NRO account and remitted up to $1 million per financial year, subject to tax compliance.

NRIs/PIOs can avail housing loans in rupees from banks or housing finance institutions in India for purchase, repair, or renovation of residential property, subject to FEMA guidelines.

Yes, NRIs can rent out their property without RBI approval. Rent can be credited to NRE/NRO accounts or remitted abroad, after applicable taxes are paid.

No, NRIs don’t need RBI permission to buy immovable property in India, except agricultural, plantation, or farmhouse land.

Refunds of purchase consideration (and interest, if any) on cancellation of bookings can be credited to an NRE/FCNR account if the original payment was made from the same account or via remittance from abroad, subject to bank verification.

For queries or approvals, contact: The Chief General Manager, RBI Central Office, Exchange Control Dept., Foreign Investment Division (III), Mumbai – 400001.

No, NRIs don’t need special permission to transfer immovable property in India to a resident Indian.