Real Estate FAQ

As you buy a new home, these questions will answer all common queries about buying and owing a property in India. Use this guide to acquaint yourself with rules, laws and important information.

Q. Does a foreign citizen of non-Indian origin require permission from the Reserve Bank of India (RBI) for acquisition of immovable property?

Yes. The RBI may grant permission to a foreign cizen of non-Indian origin/foreign companies if the property is purchased for residential use and the consideration is paid by way of foreign exchange.

NRIs can be defined as:

  • Indian citizens who stay in a foreign country for employment
  • Indian citizens carrying on their businesses or vacations
  • Indian citizens abroad for any other purpose in the circumstances Indicating a definite
  • Indian citizens working abroad on assignment with foreign governments or

NRIs can also be:

  • Indians who have settled abroad permanently or gone abroad immigration Non-resident Indians become residents of India once they come back to India to engage in employment, for carrying on any business or vacation, or
  • for any other purpose indicating a definite intention to stay in India for an indefinite period

By registering the transaction of an immovable property, it becomes permanent public record. Title or interest can be acquired only if the deed is registered.

There is no prescribed norm for determining the market rent rate though it can be easily found out by approaching individuals such as brokers, registration authority, etc.

Buying Tips

Parameter Question to be asked
Location Of Site While choosing the location ,you need to keep the following parameters in mind like proximity to the main road,bus stop,railway lines, and transportation services,civic amenities like educational institution, park, police station, temples, community hall, hospitals, and auditorium within reach.
Affordability Does the location fit your budget?
Place of work How far is the office from the desired location?
Market place Where is the nearest market?
School Where is the nearest school?
Public Transport Are buses/trains easily available from the location?
Builder Does the builder have a good reputation in the market?
Availability of water and electricity Is there a steady supply of both ?
Highways Nearby Are the highways near to the Locality ?

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