Overview NRI

Overview NRI


Buying a property in India is always a dream and emotional decision for every Indian, irrespective of where they are currently located in the world. Below are five rock solid reasons to make that move now;

  1. Simplification of Laws

    Indian laws have also become more accommodating, making the entire process fairly easy.

  2. Depreciating Rupee

    Non-resident Indians (NRIs) buying property in India today can easily save up to 15 per cent on their investment due to a weakened Rupee

  3. Rental and resale value

    Sustainable demand and consistent real estate market has ensured high rate of returns on rent & resale

  4. Futuristic Township

    Ultra-modern integrated and self-sustained townships offering –a better way of living

  5. Lifestyle

    Most prominent cities now offer international standard educational institutes, malls, restaurants and cinemas

The Reserve Bank of India governs an NRI’s property investment transactions and they come under the authority of FEMA (the Foreign Exchange Management Act).

Classification of Expatriate/Overseas Indian

Classification of Expatriate/Overseas Indian

NRI

A non-resident Indian (NRI) is a citizen of India holding an Indian passport, who has temporarily immigrated to another country (for six months or more) for education, work, residence, or any other purpose.

PIO

A person of Indian origin (or ancestry) either was, or had ancestors who were born in India or other nations of Indian ancestry. A PIO is not an Indian citizen, and is the citizen of another country. He/she was probably once a citizen of India, and later became the citizen of another country

OCI

A foreign national might have been eligible to become a citizen of India on 26th January 1950, or belonged to a territory that became part of India after 15th August 1947. This foreign national’s children and grand children are eligible for registration as OCI. But they will not be eligible for OCI status if the applicant had ever been a citizen of Pakistan or Bangladesh.