NRI Services

Kumar Linkers NRI Services

On the demand of market Kumar Linkers has given an Opportunity for NRI (Non Residential Indian) Customer to Invest in Real Estate. We provide Customers satisfaction services to their NRI customers. NRI can buy commercial & Residential property in India.

Kumar Linkers has Collection of unique Residential & Commercial Properties. Our 21 years of experienced team worked on 24X7 formats to providing an identical property. We have index of property in different location of Delhi/NCR.

Today, the real estate sector highly disorganized in India is becoming a self-organized as India has a huge market potential in the real estate sector. Indigenous real estate is growing rapidly as a desirable destination for investment, by NRI. Your privilege lies in the fact that in spite of what they earn in foreign currency, which can invest back home in Indian rupees (INR) and a sinking in value of the currency. In general, the NRI investors tend to be of two types - those who want to earn good (ROI) return on their investment and those who buy his family's property or of their own future than live in India.

NRI'S has Best Option to Invest in Property

NRI FAQ - Property In India - Buy/Sell/Rent/Lease

(Q). Who all can buy property in India ?

Only a Resident Indian, NRI (Non Resident Indian), PIO (Person of Indian Origin), OCI (Overseas Citizen of India) can buy property in India.

Indian Resident :- Indian citizen is ordinarily residing in India and holds an Indian passport. For all official purpose the Government of India considers Indian National who stays for more than 182 days in a year in India as an Indian Resident.

NRI:- A Non Resident Indian (NRI) is a person of Indian origin but not residing in India.

PIO:- Person of Indian Origin (PIO) origin' means an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan) who fulfils any of the conditions given below.

  • He has held an Indian passport
  • He or either of his parents or any of his grand-parents was a citizen of India by virtue of the Constitution of India or the
        Citizenship Act, 1955 (57 of 1955).
  • The person is a spouse of an Indian citizen or a person referred to in sub-clause (a) or (b)

OCB:- Overseas corporate body means

  • To the extent of at least 60% by individuals of Indian nationality or origin resident outside India as also overseas trusts in which at
         least 60% of the beneficial
        interest is irrevocably held by such persons.
  • Companies, partnership firms, societies and other corporate bodies
  • Owned, directly or indirectly,

(Q). Does NRI/PIO/OCI require permission of the Reserve Bank to acquire residential/commercial property in India ?

No , Permission is not required by anyone.

(Q). What are the Types of property a NRI/PIO/OCI can buy in India ?

NRI/OCI/PIO can buy any residential of commercial property in India: however they cannot buy agriculture land in India.

(Q). Are there any restrictions on numbers of properties that can be bought and sold by NRI/ PIO/OCI ?

There are no restrictions in terms of numbers of properties that can be bought by NRI/PIO/OCI; however they can sell only two properties in a financial year.

(Q). How are the payments made by the NRI/PIO/OCI ?

It is mandatory for NRI/PIO/OCI to make payments only from the below options for buying Property in India

NRE Account : - Known as Non Residential External account, these are special kind of accounts for NRI's. This account can be opened with any private or nationalized bank of India.

NRO Account :- Known as Non Residential Ordinary account, these are special kind of accounts for NRI's. This account can be opened with any private or nationalized bank of India.

FCNR Account :- Known as Foreign Currency National Rupee Account, these are special kind of accounts for NRI's .This account can be opened with any private or nationalized bank of India . It's a kind of fixed deposit account and one can maintain account in a choice of 6 currencies: - USD,GBP,EUR,JPY,CAD and AUD.

Wire Transfer :- it means transfer of payment directly from the Foreign Bank to the desired Indian bank account. Is this case a wire transfer remittance receipt is issued by the foreign bank confirming the amount transferred in Indian bank account. Foreign bank charges a wire transfer fee which is around 25$ minimum or is some cases a percentage of the amount to be transferred whichever is higher.

(Q). Can NRI/PIO/OCI acquire or dispose residential property by way of gift ?

Yes, NRI/PIO/OCI can freely acquire immovable property in India by way of gift either from

  • Resident Indian
Again NRI/PIO/OCI may gift residential/commercial property to
  • Resident Indian
  • OCI-with approval of RBI

(Q). Can NRI/PIO/OCI sell their purchased property without the permission of Reserve Bank ?

Yes, Reserve Bank of "India has granted general permission for sale of such property to the following categories

  • Resident Indian
  • PIO –with approval of RBI.
  • OCI- with approval of RBI.

(Q). Can the sale proceeds of such property (if and when sold) be remitted/repatriated out of India ?

Yes, the sale proceeds can be remitted/repatriated out of India, In the event property acquired out of foreign exchange source i.e. remittance through normal banking channels NRE/NRO/FCNR/Wire Transfer accounts.

(Q). What are the documentation required by NRI / PIO / OCI for buying property ?

Documents required for buying property

  • Pan card (Permanent account number)
  • OCI/PIO card (In case of OCI/PIO)
  • Passport (In case of NRI)
  • Passport size photographs
  • Address proof