In some of the Middle East nations as well as places like Malaysia and Singapore the domicile restrictions are forcing NRIs working there to secure a home back in India when the going is good.
The RBI and FEMA regulations have categorically specified the kinds of investment that is permitted for NRIs in the real estate segment.
A NRI has the permission to carry out the following with regard to Real Estate in India:
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Acquire any immovable property other than agricultural land, plantation property and farm house in India.
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Acquire any immovable property as described above by way of gift from a resident Indian, citizen of India residing outside or Person of Indian Origin.
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Acquire property by means of inheritance.
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Transfer by means of sale of immovable property described above by means of a sale to a person residing in India.
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Transfer agricultural property, plantation land or farm house by way of gift to Indian citizen who is residing in India.
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Transfer by way of gift residential or commercial property by means of gift to any person who is a citizen of India whether residing within or abroad or a Person of Indian Origin.
Great post! NRI Indians look at India’s land not only for investment but also a security for their families and also a holiday retreat.