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Showing posts with the label NRI Investment On Real Estate

Real Estate India: Can a Non Resident Indian Buy Property In India?

Question asked by Mr Subedar from UK: As a British citizen but born in India /Gujarat can i buy a property in Mumbai if yes then please show me some new properties in Mumbai in a good locality. Thank you for your information Mr. H. Subedar. Uk Vatsala Answers: If you are 1) a person of Indian origin (father, grandfather or great grandfather should have been an Indian) or 2) if you have held an Indian passport, then you can purchase an immovable property in India. You cannot purchase immovable property in India simply because you were born here, as it does not confer citizenship. For more information, kindly visit at Real Estate India or Online Real Estate Video .

Real Estate India: Can a NRI buy a large plot of land and make a farmhouse?

Question asked by oci (canadian citizen of indian origin): I am oci (canadian citizen of indian origin) holding oci status. can we buy a large plot of land and make a farmhouse? can we buy waste land that is not being used for agriculture and turn it fertile? I basically want to return to india & live I can invest up to 400,000$ thanks for your inputs. Vatsala Answers: A person who is not a resident of India cannot purchase farm lands anywhere in India according to the Foreign Exchange Management Act. A resident is a person who resides in India for at least 182 days a year. An overseas citizen of India is no exception to this rule.However as a person of Indian origin, you can purchase other lands in India that are not agricultural lands. For more information, kindly visit at Real Estate India or Online Real Estate Video .