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NRI Investments
Acquisition of Properties


  • NRIs can purchase Properties in India other than:
    • Agricultural Land
    • Plantation Properties
    • Farm Houses
  • Such properties can be transferred to another NRI / PIO or any Resident without any restrictions
  • NRIs can acquire Properties by way of :
    • A Gift from a Resident / NRI / PIO
    • Purchase through Inward Remittance or debit of NRE / FCNR / NRO account
    • Through Inheritance
  • Repatriation is permitted in respect of a maximum of 2 Residential Properties subject to payment of Tax
  • Repatriation is restricted to the amount paid in equivalent of Foreign Currency at the time of acquisition
  • Realization beyond investment in Foreign Currency can, however, be repatriable through NRO account subject to a cap of $ One Million per financial year
  • Properties purchased out of Rupee funds:
    • Repatriation is permitted from NRO a/c subject to a max. of $ One million per financial year


It has been a great pleasure to be a client of Union Bank of India NRI branch, Mumbai In the beginning most of the Indian banks were lacking service
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