Your home in India,
from anywhere.
A clear guide for NRIs and OCI cardholders on buying, financing and selling property in India — accounts, payments, documents, taxes and repatriation.
Buying property in India.
Owning a home in India from overseas is more straightforward than many expect — the rules are clear and the process can largely be handled remotely.
For many NRIs, a home in India is both a connection to family and a long-term asset. Under FEMA, NRIs and OCI cardholders do not need RBI permission to buy residential or commercial property — the process is much the same as for resident Indians.
The main differences are how you pay (through banking channels and specific NRI accounts), how you finance (NRI home loans), and how you eventually take money back abroad (repatriation rules).
This page explains each step. Our team can walk you through Skytech projects by video, coordinate with family in India and help you understand the paperwork.
NRI, OCI or foreign national?
Your rights depend on your status — here's a plain-language summary.
NRI — Non-Resident Indian
An Indian citizen who lives outside India — for example, for work or business. NRIs hold an Indian passport.
OCI — Overseas Citizen of India
A foreign citizen of Indian origin who holds an OCI card. Older PIO cards were merged into OCI in 2015.
Foreign Nationals
Foreign citizens who are not OCI cardholders generally cannot buy property in India, except through inheritance or with specific approval.
NRE, NRO or FCNR — which one?
The account you use decides what you can pay from, how interest is taxed and what you can repatriate.
NRE — Non-Resident External
The most useful account for property purchases. It holds foreign earnings converted to rupees, and both principal and interest are freely repatriable.
Paying for your property from NRE funds (or by direct inward remittance) creates the documented trail you'll need to repatriate sale proceeds later.
Interest on NRE deposits is currently exempt from Indian income tax for eligible NRIs.
NRO — Non-Resident Ordinary
For managing India-sourced income — such as rent from your property, dividends or pension.
Repatriation is restricted: up to USD 1 million per financial year, after applicable taxes and with the required bank forms and CA certificate.
Interest on NRO deposits is taxable in India, with TDS deducted by the bank. Treaty (DTAA) benefits may lower this depending on your country of residence.
FCNR (B) — Foreign Currency Deposit
A term deposit kept in a foreign currency such as USD, GBP or EUR — which protects your savings from rupee movements.
Principal and interest are fully repatriable, and the funds can be used towards a property purchase in India.
Deposits typically run for 1 to 5 years, and interest is currently exempt from Indian tax for eligible NRIs.
*Interest exemption applies to NRIs as per current tax rules; it may not apply if you become a resident.
Five steps to owning a home in India.
Much of the process can be completed while you're overseas.
Choose Your Home
Explore Skytech projects with our team — through video calls, walkthroughs or a site visit by family in India.
Check Loan Eligibility
If you need a loan, compare NRI home-loan offers from lenders and get your eligibility assessed.
Book & Sign
Pay the booking amount by inward remittance or from your NRE/FCNR account. Agreements can be signed in person or through a Power of Attorney.
Make Payments
Pay instalments through banking channels — never in cash — and keep every receipt for future repatriation.
Register & Take Possession
Register the property at the sub-registrar's office, in person or through your POA holder, and take possession.
Documents you'll need.
Keep these ready before you book or apply for a loan. Lenders may ask for more based on your profile and country.
Identity & Status
- Indian passport (NRIs)
- OCI card and foreign passport (OCIs)
- Visa / overseas residence proof
- Overseas address proof
- PAN card
- Aadhaar card (if available)
Income & Banking
- Overseas bank statements (6 months)
- Recent salary slips
- Employment contract or letter
- Indian ITRs (if filed)
- NRE / NRO / FCNR statements
- Credit report (India / overseas)
Property Papers
- Allotment letter from Skytech
- Builder–buyer agreement
- RERA registration details
- Payment receipts
- Bank remittance certificates
- Any other papers your lender asks for
Power of Attorney
- POA drafted for the specific property
- Signed before an Indian consulate, or notarised and apostilled abroad
- Stamped (adjudicated) in India within the required time
- POA holder's ID and address proof
- Relationship proof, if family
- Registered where required
Tax on Indian property.
NRIs pay broadly the same taxes as residents, but TDS works differently — and tax treaties may reduce what you finally owe.
When you sell, the buyer must deduct TDS before paying you. If your actual tax is lower, apply for a lower-deduction certificate before the sale. Rental income is taxable in India after a 30% standard deduction. India has tax treaties (DTAAs) with many countries that can help avoid double taxation.
| Item | Rate | Notes |
|---|---|---|
| Stamp duty (UP) | About 7% | Concession for women buyers up to a value limit |
| Registration fee (UP) | About 1% | Of property value |
| Rental income | Slab rates | 30% standard deduction; tenant usually deducts TDS |
| Long-term gains (held >24 months) | 12.5% | No indexation; plus surcharge & cess |
| Short-term gains | Slab rates | TDS by buyer generally at 30% plus surcharge & cess |
| Lower TDS on sale | Certificate | Apply to the tax department before the sale |
| Principal · Sec 80C | Up to ₹1.5 L | Old regime; against India-taxable income |
| Interest · Sec 24(b) | Up to ₹2 L | Self-occupied, old regime; no cap if let out |
NRI property questions, answered.
Common questions from NRIs and OCI cardholders.
Ready to own your
home in India?
Speak to our team — wherever you are — about Skytech projects, video walkthroughs and the buying process.
This page is general information based on our understanding of FEMA and Indian tax rules as of 2026, and is not legal or tax advice. Rules change and depend on your circumstances — please consult a qualified professional and your bank before acting.