Here is the list of things that NRIs should keep in mind while investing in real estate in India.
- NRIs have no restrictions on how many commercial or residential properties they can own in India. However, repatriation of sale proceeds can only be done for two units.
- NRIs can invest in real estate through normal banking channels, or by investing in funds in NRE, NRO and FCNR accounts
- NRIs can mortgage residential property in India with an Indian financial institution without any approval from the central bank
- NRIs can rent their residential property without prior approval of the RBI and rent can be credited to their NRO/NRE account.
[via - firstpost - NRIs, here’s how to invest in real estate in India ]
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