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 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.