Hi,Foreigners who are residing outside of India cannot acquire an immovable property in India. But if a foreign national resides in India, he/she can acquire immovable property under certain circumstances. So to answer your question, ‘can foreigners buy property in India?’ Yes.Conditions for foreigners to buy property in India
Any foreign citizen residing in India can buy a property in India after completing the continual residency period of 182 days during a financial year.
Those who belong to Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal, or Bhutan and are residing in India can purchase immovable property in India after acquiring permission from the Reserve Bank of India and Government of India.
The payment for buying an immovable property in India must be made via funds remitted from abroad through a banking channel.
A few documents required by foreigners to buy property in India are:
Property registration documents
Declaration to the revenue authority of the district where property is located to inform about sources of funds
Identification cards
Visa and passport
Address proof
I hope now you know the answer to your query ‘Can foreigners buy property in India?’
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Can foreigners buy property in India?
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April 30, 2021
2021-04-30T18:49:06+00:00 2021-04-30T19:23:37+00:00Comment
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