Buying property in India as an NRI involves a specific legal framework under FEMA (Foreign Exchange Management Act). Get it right and coastal Karnataka offers some of the best risk-adjusted returns available to Indian diaspora investors.
What NRIs can buy
NRIs can freely purchase residential and commercial property in India. Agricultural land, plantation property, and farmhouses require special RBI permission. On the Karavali coast, most investment-grade opportunities — plots, holiday homes, managed villas — fall within the freely purchasable category.
How to fund the purchase
NRIs can pay from NRE or NRO accounts, or through inward remittances in foreign currency. Payment must be through proper banking channels. Repatriation of sale proceeds is permitted from NRE accounts; NRO account repatriation is subject to annual limits.
Documentation required
- Passport copy (valid)
- PAN card
- OCI / PIO card if applicable
- Proof of NRI status — employment visa or residence permit
- NRE / NRO bank account details
- Power of Attorney if purchasing through a representative in India
The Power of Attorney advantage
Most NRI buyers purchase through a Power of Attorney given to a trusted representative in India. This allows the entire transaction to be completed without the NRI travelling to India for registration — particularly valuable for buyers based in the Gulf or further afield.
SSV Realty conducts full due diligence on every property we represent and provides complete NRI documentation support. Read our full NRI guide or schedule a free consultation.