NRI CORNER

Welcome to the NRI Zone of RRR Group

We hold the pride to share that RRR Group are preferred for NRI Real Estate Investment in South India. Our in-depth understanding of your needs has helped us to offer the best products and services that suit your requirements and satisfy your needs.

Buying a property for a non-resident Indians (NRI) is easier than ever before. Anyone with an Indian passport can invest in Indian real estate, given that the property is not an agricultural land, plantation property or a farmhouse. One of the most important considerations for an NRI investing in Indian real estate is understanding of the financial landscape.

Legal Information

  • Sale: Reserve Bank of India has given permission for foreign citizens of Indian origin to sell a property. Wherever the property has purchased the funds towards the purchase consideration should be either remitted to India or paid out of balances in NRE/FCNR accounts.
  • Renting: Reserve Bank of India permits you to rent out any immovable residential/commercial property in India. The rental income or proceeds of any investment of such income are eligible for repatriation.
  • Finance: You can either pay through rupee-denominated NRO or NRE and FCNR accounts. Loans are readily available and can be taken from any Indian bank within India or from a branch of an Indian bank in your country of residence
  • Formalities: Within 90 days from the date of purchase, you need to file a declaration in form IPI 7 with Central Office of Reserve Bank at Mumbai. You should submit a final payment of purchase consideration along with a certified copy of document evidence of transaction and the bank certificate of the consideration paid.
  • Documentation: Passport, proof of residence & PAN card.