NRIs: Plan on purchasing or selling real estate in India? Save on these taxes
NRIs can buy all sorts of properties in India except an agricultural land, farm house or a plantation property. However, to either of those exempted property types in India, they have to get approval from the Reserve Bank of India (RBI) and the government.
The RBI has given a general permission to banks and housing finance companies registered with the National Housing Bank to provide loans to NRIs for buying residential property in India. Sanctioned in Indian currency, the loan has to be repaid using the same currency.
