At Akshara Group it is our constant endeavour to resolve all doubts and any concern that you may have. We strive hard to make all the resources available to you to enable you to take better decisions. Here, we have compiled the basic legal information to help you buy a house in India. After having gone through the following points, if you still have queries, feel free to get in touch with us.
Non-resident Indians holding Indian passports do not require any permission from RBI to acquire immovable properties for bonafide residential purposes.
Regarding the payment, NRIs holding Indian passports may pay the purchase amount either by remittance of funds from abroad through normal banking channels or out of NRO/ NRE/ FCNR account.
As an NRI,you will need to obtain a copy of the title report by the solicitor of the property. Do ensure that there are no conditions written in fine print with any kind of specific reservations by the state government.
Scrutinize for specific clearance reports. The purpose is to ensure that you do not get involved with a property that is associated with any sort of disputes. Moreover in the absence of clearance of title, you will also not be able to procure home loans.