Property is one of the most sought after investments in India. But it is very difficult for people who are living outside the country and are keen to invest in Indian properties.

Below are the rules that allow a foreign national to buy a property in India.

1. FEMA: Acquisition of land in India by foreign national is regulated by Section 6(3)(i) of Foreign Exchange management Act. This regulation is about the acquisition and transfer of property in India. According to this act, a foreign national is eligible for holding property in India if it was purchased while he was residing in India or if it is inherited from an Indian resident. If a person is not residing in India or if he does not have an Indian origin, he cannot hold a property in India.
2. Residency Requirement: Buy Association requires that a person be residing in India for a period 183 days prior to purchasing a land in India. It is a challenging requirement as tourist visa lasts only for 180 days. If a foreign national buys a property in India as a joint owner, it is illegal.
3. NRIs and PIOs: Non residents Indians and persons of Indian Origin c are eligible to hold land in India. This is because the NRIs have an Indian passport, even if they are not residing in India. Similarly, PIO status is valid for four generations allowing a person to buy land in India. The government of India has recently introduced Overseas Citizenship of India, OCI, that permits dual nationality to NRIs and PIOs.

Related posts:

1. How To Obtain A Visa For India
2. How To Find A Job In India
3. How to Get Birth Certificate in India
4. How to Apply for Online Patent in India