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Key rules NRIs must know before purchasing residential property in India

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Non-Resident Indians are permitted to purchase residential property in India, provided all payments are made through official banking channels, with cash transactions strictly prohibited. Banks extend home loans to NRIs under conditions largely similar to those offered to resident Indian buyers. However, NRIs are not directly eligible for benefits under the Pradhan Mantri Awas Yojana housing subsidy scheme. Despite this limitation, affordable housing options are increasingly becoming available across multiple Indian cities. NRIs considering a property purchase should be aware of these financial and regulatory guidelines before proceeding.

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Key rules NRIs must know before purchasing residential property in India · ShortSingh