How FEMA Rules Affect NRIs Buying Property in India: Payments, Documents, Taxes, Loans and Common Mistakes
NRIs can purchase properties in India under the Foreign Exchange Management Act (FEMA), but only of certain types. NRI and OCI cardholders can purchase residential and commercial properties in India without prior permission from the Reserve Bank of India. FEMA does not allow NRIs to purchase agricultural land, plantations or farm buildings. In most cases, … Read more