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Guidelines for Acquisition of
                 Property in India by NRIs, PIOs and
                              Foreigners


Brought 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
Non Resident Indians (NRIs), Persons of Indian Origin (PIOs),
and Foreign Nationals of non-Indian Origin (Foreigners) can
acquire Immovable Property as per the laws and legislations
          laid down by the Central Government.
Immovable Property Acquisition by
        NRIs and PIOs:
NRIs and PIOs can acquire Immovable Property (either
         Residential or Commercial) in India by way of
purchase, 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.
A property in India can be acquired
                by:
1. Acquisition by way of Purchase
2. Acquisition by way of Gift
3. Acquisition by way of Inheritance
Acquisition by way of Purchase:
Acquisition by way of
                              Purchase:

  The Reserve Bank of India (RBI) has permitted the following
categories 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:
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 of
India (OCI)
A Non Resident who has established in India a branch office
or other place of business (excluding a liaison) office
Acquisition by way of Gift:
Acquisition by way of
                                  Gift:

General permission is granted to acquire any Immovable
Property (other than agricultural land, plantation or
farmhouse 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 Indian
citizen or foreign citizen of Indian origin.
Acquisition by way of
                                  Gift:


Provided that applicable Gift Tax if any has been paid at the
       time the immovable property is being gifted.
Acquisition by way of Inheritance:
Acquisition by way of
                              Inheritance:

General permission is granted for inheritance of Immovable
Property including agricultural land, plantation or farm-house
property from:

A Person Resident in India, or
A Person Resident outside India who may be an Indian
citizen or Foreign Citizen of Indian Origin provided such
person had acquired the said property in accordance with the
provisions of Foreign Exchange Law in force at the time of
acquisition, i.e., FERA, 1973 or FEMA 1999.
Acquisition by way of
                           Inheritance:


Hence, agricultural land, plantation or farmhouse property
       can be acquired by way of inheritance only.
Immovable Property Acquisition by
Foreign Nationals of Non-Indian Origin
Immovable Property Acquisition
                          by Foreign Nationals of Non-
                                  Indian Origin


The residential status of a foreign national of non-Indian
origin determines the ability to acquire immovable property
in India. Thus, Foreign Nationals of non-Indian origin can be
further divided into:

Foreign Nationals of Non-Indian Origin, Resident Outside
India
Foreign Nationals of Non-Indian Origin, Resident In India
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
                              Foreigners


Brought 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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Property Acquisition Guidelines by NRIs, PIOs and Foreigners

  • 1. Guidelines for Acquisition of Property in India by NRIs, PIOs and Foreigners Brought 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. Non Resident Indians (NRIs), Persons of Indian Origin (PIOs), and Foreign Nationals of non-Indian Origin (Foreigners) can acquire Immovable Property as per the laws and legislations laid down by the Central Government.
  • 3. Immovable Property Acquisition by NRIs and PIOs:
  • 4. NRIs and PIOs can acquire Immovable Property (either Residential or Commercial) in India by way of purchase, 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. A property in India can be acquired by:
  • 6. 1. Acquisition by way of Purchase 2. Acquisition by way of Gift 3. Acquisition by way of Inheritance
  • 7. Acquisition by way of Purchase:
  • 8. Acquisition by way of Purchase: The Reserve Bank of India (RBI) has permitted the following categories 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. 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 of India (OCI) A Non Resident who has established in India a branch office or other place of business (excluding a liaison) office
  • 10. Acquisition by way of Gift:
  • 11. Acquisition by way of Gift: General permission is granted to acquire any Immovable Property (other than agricultural land, plantation or farmhouse 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 Indian citizen or foreign citizen of Indian origin.
  • 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. Acquisition by way of Inheritance:
  • 14. Acquisition by way of Inheritance: General permission is granted for inheritance of Immovable Property including agricultural land, plantation or farm-house property from: A Person Resident in India, or A Person Resident outside India who may be an Indian citizen or Foreign Citizen of Indian Origin provided such person had acquired the said property in accordance with the provisions of Foreign Exchange Law in force at the time of acquisition, i.e., FERA, 1973 or FEMA 1999.
  • 15. Acquisition by way of Inheritance: Hence, agricultural land, plantation or farmhouse property can be acquired by way of inheritance only.
  • 16. Immovable Property Acquisition by Foreign Nationals of Non-Indian Origin
  • 17. Immovable Property Acquisition by Foreign Nationals of Non- Indian Origin The residential status of a foreign national of non-Indian origin determines the ability to acquire immovable property in India. Thus, Foreign Nationals of non-Indian origin can be further divided into: Foreign Nationals of Non-Indian Origin, Resident Outside India Foreign Nationals of Non-Indian Origin, Resident In India
  • 18. Immovable Property Acquisition by Foreign Nationals of Non- Indian Origin
  • 19. Immovable Property Acquisition by Foreign Nationals of Non- Indian Origin
  • 20. Guidelines for Acquisition of Property in India by NRIs, PIOs and Foreigners Brought 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