MAI ensures to offer avant-garde commitment. Where clients experience beyond expectations, where every aspect of fine living is foreseen. If you are an NRI who is looking to garner the great benefits of buying property in India or if you have any queries related to property purchase, we are always ready to help you.

LEGAL INFORMATION

Power of attorney must be provided in the name of a person, who is residing in India, for him to carry out all the legal and financial proceedings on your behalf. A copy of your passport (in case your PAN card is unavailable) An NRE or NRO account is needed to carry out transactions with the builder.

After the implementation of the Real Estate Regulation and Development Act (RERA) and the Goods and Services Tax (GST), property purchase is one of the best options for NRIs in terms of investment, especially in India.

With the incessant and ceaseless amendments and continuous revisions and emendation in the Land Acquisition Act, relaxation of FDI rules and the Real Estate Regulatory Bill, NRIs are benefiting more in the domain of property purchase.

The Reserve Bank of India has acknowledged and permitted NRIs to purchase or sell land either through foreign exchange (for which any Indian bank can be used as a medium) or through NRE/FCNR accounts.

A facsimile copy of it has to be submitted to the central office of The Reserve Bank of India within a period of 90 days post the purchase. However, no official permission is required to make the purchase and consequently, the buyer has all the freedom here

As an NRI, you are entitled to purchase properties in India. If you’re an NRI, PIO residing outside India at the moment, but who’s owned an Indian passport at any point of time, or someone whose father or grandfather was an Indian citizen according to the Constitution of India or the Citizenship Act, 1955 is eligible to purchase properties in India.