Yes, a Non-Resident Indian (NRI) / Person of Indian Origin (PIO/OCI) can purchase Residential property in India. In case the Applicant is an NRI or non-resident/foreign national of Indian origin / foreign nationals / foreign companies then all remittances, acquisition/transfer of the Said Space, any refund, transfer of security etc., shall be made in accordance with the provisions of Foreign Exchange Management Act, 1999 or statutory enactments or amendments thereof and the rules and regulations of the Reserve Bank of India or any other applicable law and it shall be the sole responsibility of non-resident / foreign national of Indian origin / foreign nationals / foreign companies to abide by the same.
Check-list Of Documents:
- For Foreign Nationals of Indian Origin: Foreign Inward Remittance from the account of the Applicant(s) / NRE/ FCNR A/c of the Applicant(s) / IPI-7/ Passport Photocopy
- For NRI: Copy of Passport / Foreign Inward Remittance from the account of the Applicant(s) / NRE / NRO A/c of the Applicant(s).