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5 Key Things NRIs Should Know Before Investing in Indian Real Estate
Non-Resident Indians (NRIs) are increasingly looking at non-agricultural (NA) plots in India as a stable and high-growth investment. These lands are legally approved for residential or commercial use, making them far more accessible to NRIs than agricultural properties.
But what exactly can an NRI buy? What rules apply? And how can you safely complete the purchase from abroad?
Here’s a simple guide.
1. NRIs Can Buy NA (Non-Agricultural) Land Without Special Permission
NRIs are allowed to buy non-agricultural land in India.
No special approval from the Reserve Bank of India (RBI) is required.
This includes:
- Residential NA plots
- Commercial NA plots
- Approved layouts in township or plotting projects
NA land is fully legal for NRI purchase and is treated the same as buying residential/commercial property.
2. Payment Rules for NRIs Buying NA Plots
NRIs must follow banking rules under FEMA. Payments can be made only through:
- Inward remittance from abroad
- NRE account
- NRO account
- FCNR account
- Cash payments are not allowed.
This creates transparency and helps with future repatriation of funds.
3. Properties NRIs Cannot Buy
NRIs are restricted from buying:
- Agricultural land
- Farmhouses
- Plantation land
These can only be owned if the NRI inherits them or receives them as a gift.
So, for new purchases, only NA land is allowed.
4. Power of Attorney (POA) Helps If You’re Abroad
If the NRI is not in India during the transaction, they can give a Power of Attorney to a trusted relative, friend or a professional representative.
The POA holder can legally carry out tasks like signing agreements, completing paperwork, and handling registration formalities.
5. Legal Due Diligence: The Most Important Step
Before buying any NA plot, NRIs must confirm that the land is officially converted from agricultural to non-agricultural by the authorities.
✔ Title and Ownership
Check title deeds to ensure the seller has the legal right to sell.
✔ Encumbrance Certificate (EC) for 30 Years
This confirms the land is free from legal disputes or loans.
✔ Approvals & NOCs
Look for:
- Layout approval
- Local authority permissions
- Tax receipts
- Completion certificates (if applicable)
- A clean plot saves you from trouble later.
6. Repatriation Rules: What Happens When You Sell?
When an NRI sells an NA plot:
- If purchased using NRE funds
- The original investment amount can be repatriated abroad in foreign currency.
- If capital gains are earned
- The profit must first be credited to an NRO account.
- Repatriation is allowed but within RBI limits.
- If purchased using NRO funds
Repatriation is limited to USD 1 million per financial year, including all assets and income.
7. How Non-Resident Indians Purchase a NA Plot in India
Step 1: Verify that the land is NA
Step 2: Designate a POA (useful but optional)
A general power of attorney facilitates the process.
Step 3: Conduct exhaustive due diligence
To verify documents, approvals, and land history, speak with a legal professional.
Step 4: Put a Sale Contract into Action
This needs to be signed and stamped by the POA holder or both parties.
Step 5: Transfer money through approved channels.
Use NRE/NRO/FCNR accounts or inward remittances.
Step 6: Register the sale deed
To complete ownership, pay stamp duty and registration charges.
Conclusion
Buying NA plots is one of the simplest and safest real estate investments that NRIs can make in India. With no need for special RBI approval and clear guidelines under FEMA, NA land offers strong potential for appreciation, development, and future returns.
As long as you verify the land status, ensure clean paperwork, and follow proper banking channels, purchasing an NA plot becomes a smooth and secure process for any NRI.
When you are planning to buy a property or land, you may need a loan to help you with the payment. There are two types of loans you can choose from: a home loan and a land loan. While both can help you buy property, they are different in certain ways. Let’s explore these differences and similarities in simple terms.
Similarities Between Home Loan and Land Loan
- Approval Process: The way lenders check your eligibility is the same for both home loans and land loans. They will check your income, credit score, and other factors before they approve the loan.
- EMI Options: For both home and land loans, EMIS applicable. You can also apply for a co-applicant if needed, and the rules for this are similar for both types of loans.
Differences Between Home Loans and Land Loans
1.Purpose and Location:
- Home Loan: This loan is for buying a ready-to-move-in property, a property under construction, or one that you plan to build yourself.
- Land Loan : This one is for the purchase of a plot of land, which will be used strictly for residential purposes.
2.Loan-to-Value Ratio (LTV):
Home Loan: You can get up to 75-90% of the value of the property. So, you pay just 10-25% in a down payment for the property.
Land Loan The maximum loan will be 75-80% of the land's value. Hence, one needs a bigger down payment, at least 20-25%.
3.Loan Tenure:
Home Loan: A home loan is paid out over a very long-time period, normally up to 30 years.
Land Loan: The repayment period of the land loan is up to 15 years, as the repayment period for the loan is quite short.
Tax benefits:
Home Loan: Tax benefit is available on the interest as well as principal repayment of a home loan.
Land Loan: No tax benefits can be availed with the land loan. But if you build a house on that land after getting some construction loan then tax benefits can be availed on that construction loan.
|
Aspect |
Home Loan |
Land Loan |
|
Purpose |
Ready property, under-construction, or self-built homes |
Plot of land for residential use |
|
Loan-to-Value Ratio |
75-90% |
75-80% |
|
Loan Tenure |
Up to 30 years |
Up to 15 years |
|
Tax Benefits |
Available on principal and interest payments |
Only available on construction loan |
|
Approval Process |
Same for both types of loans |
Same for both types of loans |
|
EMI Options |
Same for both types of loans |
Same for both types of loans |
Before you buy a piece of land in Maharashtra, it is pretty important that you ensure its title is clear. This process keeps away the legal issues. Here's how you can investigate a land title in simple steps.
Title Search
Go to the land registry in that area to obtain information about its history. Find the records that state the previous owners and loans or claims on the property by showing the 7/12 extract.
Abstract of Title
An abstract of the title would give you a summary of the legal history, reflecting the change in ownership and the issues relating to the property.
Property Deeds
Check the property deeds to ensure who owns the land today. Also, these records will outline any restrictions, such as who may use the land.
Measure the Land
Hire a surveyor to survey the land. This will help one to know what actually is the boundary of that land and where the neighbors are using parts of the land.
Search Court Records
Look up court records to see if the property is involved in any lawsuits. For example, there could be a question over who owns the land.
Tax Records
Verify property taxes and that there are not other issues, like unpaid taxes or tax liens that have not been discharged.
Local Laws
Look into local zoning laws that may be able to keep you from doing certain things on the land. Some areas will not allow building or any kind of development.
Talk to Neighbors
Talk to people living nearby to know the history of the land. They might be aware of problems like boundary disputes.
Hire Legal Help
Always take the services of an attorney or a land expert like Genuine Plots, who will guide you appropriately as you analyze this land.
By taking these measures, you will have all the information concerning the title of this property and will not have any issues concerning the title in the future.
7 Essential Documents You Need When Buying Commercial Property in India
It is quite thrilling to ride in commercial real estate, and as such, it's very important that you get the paperwork right so that the transaction goes through; below is a quick guide to the seven key documents you will need when purchasing commercial property in India:
Title Deed This is the golden ticket. What it does is confirm ownership by a seller and prove that the property is free from any form of lawful and legitimate disputes; thus, it forms a cornerstone of your purchase.
Sales Agreement It can be said to be that document acting as your roadmap. The sale agreement provides an indication of all the terms regarding the sale, that is, the price and time frame when the payment should be made, both parties getting to the same page.
Not missing the registration process: Registration of property should be done with the sub-registrar of the local authority. You will need to pay stamp duty and registration fees, of course!
Encumbrance Certificate: An encumbrance certificate is your safeguard for various reasons. An encumbrance certificate states that there are no legal liabilities or outstanding dues against the property.
No Objection Certificates (NOCs): Depending upon the type of property, you would need a set of diversified NOCs from local authorities. NOCs merely confirm that there are no legal matters or objections towards the property.
Building Approval Plan: You would be planning any kind of renovation. Well, if that's indeed the case, you will require a building approval plan from the local municipalities to ascertain that the modifications done are within the zoning laws and regulations.
Tax Receipts: Let Your Records Keep Tidy! Up-to-date property tax receipts are important documentation to ensure that there are no pending dues in relation to the property and that it is free from hassles.
Incorporation of such important papers in your purchase will make the transaction smooth as well as a prudent investor. To ascertain that the purchase has been successful, you can employ real estate experts or the legal counsel of Genuine Plots to guide you through the papers.
When it comes to property transactions, several factors need to be considered; each comes with specific rules and paperwork. Here's a simple guide to help you understand them:
Types of Property Transactions
Sale Deed
A sale deed is a document that records a property's ownership.It proves the buyer owns the property and has legal rights to it. The property should be free from legal disputes or issues.
Gift Deed
A gift deed transfers property ownership as a gift, with no money involved. The recipient becomes the owner, and the giver gives up all rights to the property. The giver must own the property and must give it voluntarily, without pressure.
Mortgage Deed
It is used when a property is provided as security for a loan. The borrower must own the property and agree to the mortgage terms.
Rights and Responsibilities of Buyers and Sellers
Buyers
Rights: Buyers have the right to know the property details, which include clear titles and accurate condition details. They also have the right to know the legal status of the property and its registration under their name.
Responsibilities: The buyers are responsible for verifying the seller's ownership and legal status of the property.
Sellers
Rights:
Sellers are entitled to receive the agreed payment for the property and can expect the buyer to meet their responsibilities as outlined in the sale deed.
Responsibilities
Sellers are responsible for providing accurate information about the property, including disclosing any encumbrances, ensuring a clear title, and coordinating with buyers on registration requirements.
For more insights and updates, follow us to stay informed and ahead in your property journey.
How to Get an Encumbrance Certificate (EC) in Maharashtra: A Simple Guide
 in Maharashtra A Simple Guide.png)
If you need an Encumbrance Certificate (EC) for a property in Maharashtra, here’s a simple step-by-step guide to help you:
Steps to Get an EC in Maharashtra
- Visit the Sub Registrar's Office:
- Go to your local Sub Registrar's office. This is where you will apply for the EC.
- Get the Application Form:
- Ask for Form 22, which is the application form for the EC. You can get this form at the Sub Registrar office.
- Fill Out the Form:
- Complete the form with all the required details about the property and yourself.
- Submit the Form:
- Submit the filled form along with:
- Non-judicial stamp paper
- Required documents
- The reason for needing the EC
- Pay the Fees:
- Pay the fees for the EC as mentioned at the time of submission. The fee depends on where you apply.
- Receive an Acknowledgement Receipt:
- After submission, you will get an acknowledgment receipt with an ID number. Keep this receipt safe as it is proof of your application.
Documents You Need
To apply for an EC, you will need the following documents:
- Proof of your residence
- Identity cards like Aadhaar, PAN card, and ration card
- Address and details of the property
- Copy of the sales deed (any deed related to the land, whether recent or old)
- Purpose of the EC request
- Period for which you need the EC
- Copy of the power of attorney if someone else is applying on your behalf
Eligibility Criteria
To apply for an EC in Maharashtra, you should meet these conditions:
- You must own the land or property for which you are applying.
- If someone else is applying on your behalf, they must hold a valid power of attorney.
Important Notes
- Processing Time: The EC usually takes between 15 to 30 days to be issued after you apply.
- Language: The EC is issued in the regional language. If you need it in English, there will be an extra fee for translation.
You can obtain your Encumbrance Certificate easily by following these steps
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