Guidelines for Acquisition of                 Property in India by NRIs, PIOs and                              ForeignersB...
Non Resident Indians (NRIs), Persons of Indian Origin (PIOs),and Foreign Nationals of non-Indian Origin (Foreigners) canac...
Immovable Property Acquisition by        NRIs and PIOs:
NRIs and PIOs can acquire Immovable Property (either         Residential or Commercial) in India by way ofpurchase, gift, ...
A property in India can be acquired                by:
1. Acquisition by way of Purchase2. Acquisition by way of Gift3. Acquisition by way of Inheritance
Acquisition by way of Purchase:
Acquisition by way of                              Purchase:  The Reserve Bank of India (RBI) has permitted the followingc...
Acquisition by way of                              Purchase:A Non Resident who is a citizen of IndiaA Non Resident who i...
Acquisition by way of Gift:
Acquisition by way of                                  Gift:General permission is granted to acquire any ImmovableProperty...
Acquisition by way of                                  Gift:Provided that applicable Gift Tax if any has been paid at the ...
Acquisition by way of Inheritance:
Acquisition by way of                              Inheritance:General permission is granted for inheritance of ImmovableP...
Acquisition by way of                           Inheritance:Hence, agricultural land, plantation or farmhouse property    ...
Immovable Property Acquisition byForeign Nationals of Non-Indian Origin
Immovable Property Acquisition                          by Foreign Nationals of Non-                                  Indi...
Immovable Property Acquisition  by Foreign Nationals of Non-          Indian Origin
Immovable Property Acquisition  by Foreign Nationals of Non-          Indian Origin
Guidelines for Acquisition of                 Property in India by NRIs, PIOs and                              ForeignersB...
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Property Acquisition Guidelines by NRIs, PIOs and Foreigners

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Guidelines for property acquisition by NRIs, PIOs, and Foreigners buying property in India

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Property Acquisition Guidelines by NRIs, PIOs and Foreigners

  1. 1. Guidelines for Acquisition of Property in India by NRIs, PIOs and ForeignersBrought to you by Aukeva, A real estate investment firm focused on India and USA real estate market For more information: 98712.23021, 81306.77471 (India) 925.415.9151 (USA) sales@aukeva.com www.aukeva.com
  2. 2. Non Resident Indians (NRIs), Persons of Indian Origin (PIOs),and Foreign Nationals of non-Indian Origin (Foreigners) canacquire Immovable Property as per the laws and legislations laid down by the Central Government.
  3. 3. Immovable Property Acquisition by NRIs and PIOs:
  4. 4. NRIs and PIOs can acquire Immovable Property (either Residential or Commercial) in India by way ofpurchase, gift, inheritance, or share of joint property received upon partition of family/property, etc. as per the guidelines laid by the Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) Regulations, 2000.
  5. 5. A property in India can be acquired by:
  6. 6. 1. Acquisition by way of Purchase2. Acquisition by way of Gift3. Acquisition by way of Inheritance
  7. 7. Acquisition by way of Purchase:
  8. 8. Acquisition by way of Purchase: The Reserve Bank of India (RBI) has permitted the followingcategories of NRIs/PIOs to acquire Immovable Property (other than agricultural land, plantation or farm-house property) by way of purchase, provided the payment is made out of Foreign Exchange Inward Remittance or any Non Resident Bank Account in India, i.e., (Non Resident External (NR(E)),Foreign Currency Non Resident Account (FCNR(B)) or Ordinary Non Resident Rupee Account a/c (NRO) in connection with acquisition of Immovable Property in India:
  9. 9. Acquisition by way of Purchase:A Non Resident who is a citizen of IndiaA Non Resident who is a Person of Indian Origin (PIO)A Non Resident who has a Overseas Citizenship ofIndia (OCI)A Non Resident who has established in India a branch officeor other place of business (excluding a liaison) office
  10. 10. Acquisition by way of Gift:
  11. 11. Acquisition by way of Gift:General permission is granted to acquire any ImmovableProperty (other than agricultural land, plantation orfarmhouse property) by way of gift from a person (donor)who is:A Person Resident in India, orA Person Resident outside India (NRI) who is an Indiancitizen or foreign citizen of Indian origin.
  12. 12. Acquisition by way of Gift:Provided that applicable Gift Tax if any has been paid at the time the immovable property is being gifted.
  13. 13. Acquisition by way of Inheritance:
  14. 14. Acquisition by way of Inheritance:General permission is granted for inheritance of ImmovableProperty including agricultural land, plantation or farm-houseproperty from:A Person Resident in India, orA Person Resident outside India who may be an Indiancitizen or Foreign Citizen of Indian Origin provided suchperson had acquired the said property in accordance with theprovisions of Foreign Exchange Law in force at the time ofacquisition, i.e., FERA, 1973 or FEMA 1999.
  15. 15. Acquisition by way of Inheritance:Hence, agricultural land, plantation or farmhouse property can be acquired by way of inheritance only.
  16. 16. Immovable Property Acquisition byForeign Nationals of Non-Indian Origin
  17. 17. Immovable Property Acquisition by Foreign Nationals of Non- Indian OriginThe residential status of a foreign national of non-Indianorigin determines the ability to acquire immovable propertyin India. Thus, Foreign Nationals of non-Indian origin can befurther divided into:Foreign Nationals of Non-Indian Origin, Resident OutsideIndiaForeign Nationals of Non-Indian Origin, Resident In India
  18. 18. Immovable Property Acquisition by Foreign Nationals of Non- Indian Origin
  19. 19. Immovable Property Acquisition by Foreign Nationals of Non- Indian Origin
  20. 20. Guidelines for Acquisition of Property in India by NRIs, PIOs and ForeignersBrought to you by Aukeva, A real estate investment firm focused on India and USA real estate market For more information: 98712.23021, 81306.77471 (India) 925.415.9151 (USA) sales@aukeva.com www.aukeva.com

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