Investing in Indian Real Estate: A Guide for Diasporas
Despite global market fluctuations, the Indian real estate market continues to hold its ground, particularly among the diaspora community looking to invest in commercial and residential properties.
Case in Point: NRI Investment Inquiry
Consider Ganesh, an NRI based in London, UK, who is keen on purchasing property in India. To navigate this process, he requires guidance on the regulatory framework governing NRI investments in Indian real estate.
Regulatory Framework for NRI Investments
- Eligibility: Non-Resident Indians (NRIs) and foreign citizens of Indian Origin (PIO) are legally permitted to acquire immovable properties in India.
- Definition of PIO: This category includes individuals who have held an Indian passport at any point in time or have parents/grandparents who were Indian citizens.
Important Exemption
Restricted Nationalities: Despite fulfilling the above criteria, citizens from the following countries are not allowed to invest in Indian real estate:
- Bhutan
- Afghanistan
- Sri Lanka
- Pakistan
- Nepal
- China
- Bangladesh
- Iran
