NRI Corner - Real Estate Investment in India
Top Residential and Commercial properties for NRIs in India
India is a key player in the global real estate market. Due to increased urbanisation, it has become a hub for high-profile NRIs (Non-Resident Indians) to explore diverse investment options among residential properties as it also ensures lucrative Return on Investment (ROI) possibilities. Adani Realty has etched its name in some of the biggest and most iconic Indian cities. Our vision with #AddressOfGoodness is to create responsible housing where you can experience intelligent living. Apart from building state of art structures with impeccable concept and design we also build spaces that nurture great memories and beautiful moments. We understand how to shape India’s urban areas and it’s been a continuous dedication in shaping the skyline of Mumbai, Pune, Ahmedabad and Gurugram for the past 10+ years. Adani Realty is working towards realising people’s dreams and ensure a sound investment for your #AddressOfGoodness.
Why Adani Realty is an Optimum Choice for Investment
The Indian real estate industry is experiencing staggering growth and is amongst the most substantial wealth creators in the current era. As per reports, it accounts for 6-7 per cent of our country’s GDP and is expected to account for 13 per cent by 2025. This is one of the major reasons that inspire NRIs to buy property in India. Adani Realty’s ingenious efforts to create some of the most sophisticated and state-of-the-art housing spaces will bring the familial warmth and comfort that you seek in a home.
Adani Realty has made copious efforts to bring a paradigm shift in the Indian real estate market. Over the last decade, we have helped more than 7000+ customers find their dream homes in four major Indian cities. To date, we have completed construction on 15 Mn. Sq. Ft. of land, and another 18.8 Mn. Sq. Ft. is currently in development. Our efforts have earned us 40+ awards in various real estate categories.
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Ahmedabad
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- Residential-Projects
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Gurugram
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- Residential-Projects
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- Clubs
Mumbai
Residential-Projects
- Residential-Projects
- Commercial-Projects
NRI/PIO/OCI Real Estate Investment Guidelines
Does Capital Gains Tax (CGT) apply to NRI/PIO/OCI?
Type of asset: Assets like house property, land and building, jewellery, development rights, etc. Rate of Tax Deduction at Source (TDS). Long term – 20.6% < short term – 30.9%.
The exemption is available (only for long-term capital gains). The long-term capital gains arising from the sale of a residential house can be invested in buying/constructing another residential house within the prescribed time.
The exemption is restricted to the number of capital gains or amount invested in a new residential house, whichever is lower. Suppose the amount of capital gains is invested in bonds of the National Highways Authority of India (NHAI) or Rural Electrification Corporation. In that case, the entire capital gain is exempted, or else the proportionate gain is exempted. As per the financial budget 2007-08, a cap of ₹50 lakhs has been imposed on investment that can be made in capital tax saving bonds.
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Frequently Asked Questions
An Indian citizen who stays abroad for employment/business/vocation or under any circumstances indicates an intention of an uncertain duration of stay abroad is a non-resident. (Persons posted in UN organisations and officials deputed abroad by Central/State Governments and Public Sector undertakings on temporary assignments are also treated as non-residents). Non-resident foreign citizens of Indian origin are treated on par with Non-Resident Indian citizens (NRIs).
A Person of Indian origin means an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal, or Bhutan) who holds an Indian passport at any time or whose father or paternal grandfather was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955.
Under the general permission, the following categories can freely purchase immovable property in India:
- Non-Resident Indian (NRI) – that is a citizen of India residing outside India
- Person of Indian Origin (PIO) – that is an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan) who at any time, held an Indian passport or whose father or grandfather was a citizen of India by virtue of the constitution of India or the Citizenship Act, 1955 (57 of 1955).
However, the general permission covers only the purchase of a residential and commercial property.
Non-resident Indians (NRIs) and overseas citizens of India (OCIs) don’t require prior approval for buying or selling immovable properties like houses in the country, according to the Reserve Bank of India (RBI).
Yes, under the general permission granted by the Reserve Bank, property other than agricultural land/farmhouse/plantation property can be acquired by NRIs provided the purchase consideration is met either out of inward remittances in foreign exchange through normal banking channels or out of funds from the purchaser’s NRE/FCNR accounts maintained with the banks in India and a declaration submitted to the Central Office of Reserve Bank in form IPI 7 within a period of 90 days from the date of purchase of the property/final payment of purchase consideration.
No. NRI/PIOs do not have the necessary authorisation to purchase agricultural land, plantation property, or a farmhouse in India. Such projects (proposals) will require specific consent from the Reserve Bank of India. The plans are being studied in consultation with the Indian government.
Just the acquisition of property is not subject to income tax. However, any income derived from ownership of it, whether in the form of rent (if it is rented)/the annual value of the house (if it is not rented and is not the only residential property owned by that person in India), and/or capital gains (short or long term) arising on the sale of this house or a portion of it, is taxable in the hands of the owner.
The Government of India has given general permission for NRI/PIO/OCIs to purchase property in India, and they are not required to pay any taxes while doing so. If they sell this property, however, paying taxes is a must.
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