As the government continues to push reforms (in Land Acquisition Act, the real estate Regulatory bill, relaxation of FDI rules etc) property continues to be the best option for NRI looking to invest in India.

Pune is becoming India’s most popular investment location as it boasts of educational hub, health care along with the fastest growing IT & Manufacturing industries. According to a McKinsey report on urbanization in India, Pune will be a megacity by the year 2025.

Also Pune’s infrastructure is in the process of getting a huge upgrade with plans of ring road, metro & a new International Airport. Also the future project “Hyper loop” in collaboration with the Japanese is the fastest bullet train which will connect Mumbai & Pune within 15 minutes. The proximity of Pune getting closer first with the expressway and now with future projects makes Pune among the country’s top cities to invest.

At Oxford no project is executed without the help of the finest architects, designers, contractors in order to ensure the end result is always spectacular. We are one of the city’s pioneers in developing affordable, premium & luxury real estate hence catering to all requirements and also diversified into commercial spaces, luxury hotels & Oxford Golf Resort which is India’s best golf destination and a paradise for Nri investment with residential & villa projects.


As per India’s Foreign Exchange Management Act (FEMA) 1999, an NRI or Non-Resident Indian is a citizen of India, or a foreign national of Indian origin, living outside India for employment, business or any other vocation, which would indicate his intension to stay outside India for an indefinite period. An Indian would also be termed as an NRI if his stay in India less than 182 days during the previous financial year (April-March)

A PIO is an individual (not a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal or Bhutan) who has at any time held an Indian Passport. Or, one whose either/both parents/grandparents were citizens of India, according to the Indian Constitution or the Citizenship Act, 1955.

As per India’s Foreign Exchange Management Act (FEMA) 1999, a person resident in India is a person residing in India for more than 182 days during the previous financial year (April-March) and who has come to, or stays in India either for employment, business or for any other vocation.

No, NRIs don’t require consent from the RBI to buy an immovable property in India, provided the property is residential or commercial in nature.

No tax benefits are available for NRI’s, unless you file your returns, and subsequently become eligible to avail them.

NRI’s are required to submit a few additional documents for home loans: –

-A copy of the passport

-A copy of their works contract or the labour card

-A Power of Attorney (POA) as the borrower is not based in India.

-The housing loan needs to be paid upfront for the entire tenure of the loan, by way of direct remittances from abroad through normal banking channels, or from other financial accounts as may be permitted by RBI.

-Generally, payments are done through NRO, NRE, NRNR and FCNR accounts. These allowed accounts may change as per RBI regulations.

The eligibility is calculated in the same way as it is done for residents Indians with special emphasis on:

-Qualifications – Graduate (minimum)

-Current job- profile and work experience

-Chances of continuing working abroad for the duration of the loan’s tenure

-Chances of servicing the loan with an extended tenure, in case the applicant needs to return to India

-A house, which is either ready to move in, under construction or bought from another owner, an NRI is eligible to apply for home loans.

-For construction of a property on a plot of land by self

-To purchase a plot allotted by a society/development authority

-To renovate or improve upon an existing property in India

-In case of residential properties, the repatriation of sale-proceeds is restricted to not more than two properties, and only if the property was purchased from funds held in an NRE Account

-Additionally, the amount repatriated out of India should not exceed the amount paid for acquisition of the immovable property in the foreign exchange received through normal banking channels, or from the funds held in FCNR or NRE Account

Yes, the RBI has granted general permission for the sale of the property. However, where another foreign citizen of Indian origin purchases the property, funds towards the purchase consideration should either be remitted to India or paid out of balances in non-resident accounts maintained with banks in India.

Under the general permissions available, an NRI/PIO may purchase residential/commercial property in India out of funds remitted to India through normal banking channels, or through funds held in his NRW/FCNR (B)/NRO account. No amount for the purchase can be paid outside of India.

With specific approval from the RBI, a resident outside India may hold an immovable property in India acquired through inheritance from a person resident outside India, provided the owner had acquired such property in accordance with the regulations of the foreign exchange law in force at the time of acquisition, or in accordance with FEMA guidelines.

Yes.  A person resident outside India can hold immovable property acquired by way of inheritance from a person resident in India, as per the provisions of Section 6(5) of the Foreign Exchange Management Act, 1999.

Yes. Under the general RBI guidelines, NRI/PIO may acquire residential/commercial property by the way of gift from a person resident inIndia or an NRI or a PIO.

Yes. A Foreign National of non-Indian origin, including a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, iran, Nepal or Bhutan, can acquire residential properties on lease in India. Provided the lease does not exceed five years, he/she does not require any prior permission from the RBI.

No, an NRI or a PIO cannot buy a property in India jointly with a foreign citizen.

No. A person resident outside India cannot acquire by way of purchase agricultural land/plantation property/farmhouse in India.

No. There is no limit placed on the number of residential properties an NRI can buy in India.