NRI's

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Overview

We, at Vaibhavlaxmi, offer world-class homes for a luxurious and contemporary living. We ensure to offer experiences beyond expectations, where every aspect of fine living is foreseen. If you are an NRI who is looking to reap great benefits of buying property in India or have any queries related to property purchase, we are always ready to help you.

Legal Information

If you’re an NRI, the following documents are needed on your end to make the land purchases:
  • Power of attorney in the name of a person residing in India who can carry out legal and financial proceedings on your behalf
  • Your PAN Card
  • A copy of your passport (in case your PAN card is unavailable)
  • An NRE or NRO account to carry out transactions with the builder

Property purchase is one of the best options for NRIs in terms of investment, especially in India. With continuous amendments and revisions in the Land Acquisition Act, relaxation of FDI rules and the Real Estate Regulatory bill, NRIs are benefiting more and more with time in the domain of property purchase. The Reserve Bank of India grants permission to NRIs to purchase or sell land either through foreign exchange (for which any Indian bank can be used as a medium) or through NRE/FCNR accounts. A copy of it has to be submitted to the central office of The Reserve Bank of India within a period of 90 days post the purchase; though no official permission is required to make the purchase and hence the buyer has all the freedom here.

You’re eligible to make purchases if you’re an NRI residing outside at the moment, PIO (Person of Indian Origin) who’s owned an Indian passport at any point, or someone who’s father or grandfather was an Indian citizen according to the Constitution of India or the Citizenship Act, 1955.

Vaibhavlaxmi as a Real Estate Enterprise has built both residential and commercial properties keeping in mind all the technicalities and luxuries as per an NRIs requirement. It has ensured to make your process of investment as convenient as possible, keeping in mind. So come, invest both your money, and trust in us with complete safety.

Enquire Now

Sales Enquiry please call 022 45811369 or fill out the form below

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An NRI (Non Resident Indian) is an Indian citizen who works abroad or carrying vocation outside India for an uncertain duration is a non-resident.

Person of Indian Origin or PIO is a person, who at any time held Indian passport, or he or his parents / grandparents were Indian citizen as per the Constitution of India or Citizenship Act, 1955.

Yes, as per the general permission granted by RBI, an NRI can buy immovable property in India without any obstacles.

Yes, a PIO is eligible to buy property in India.

Any income accumulated from the ownership of the property, either in the form of rent or annual value of the property or the capital earned upon the sale of the property is taxable.

Yes, NRIs are allowed to obtain or give off properties by way of gifts to anyone who may be a citizen of India or a PIO.

A certain institutions like LIC Housing Finance Ltd., HDFC, etc. have been granted general permission to provide housing loans to NRIs.

Yes, properties other than agricultural lands/ plantation property/ farmhouses can be bought by NRIs.