A Complete Home Buying Guide for NRI's

Don't let your hard earned money go in vain. Know all about real estate investments and things to take care as an NRI.

A Non-Resident Indian or you can say an NRI can buy property without any hassle. It is not time-consuming or complex or any rocket science as it used to be in the earlier days. Those endless tax reforms and norms of the government in the sector have opened the doors of the real estate market, thus making it lucrative for NRIs. Taking care of the topic, we are pretty much sure that you must have gone through dozen guides stating the process to buy a home, Right? Each one of it more confusing! However, investing in Indian real estate department is nowhere near as complex as you may think it is. Still confused, take a tour of a complete home buying guide for NRIs put together by the best builders in Palakkad. You can thank us later.

Documents required to a real estate purchase?

Once you are on the go to invest in Indian real estate, you're all set to give it a start into the whole procedure for NRI buying property. Make sure you have all the legal documents so that the process goes smoothly. Having proper documentation prevents any furthermore property disputes. A list of documents:
  • Overseas Citizen of India (OCI) Cards OR Indian Passport

  • PAN Card

  • Power of Attorney Certificate

Is it possible that an NRI is physically present in India to purchase a property?

Travelling within a country can be thoughtful, but travelling back and forth from a different country is certainly impossible for NRI buyers. This is the reason, there have been some provisions that can make the process easy; One of the provisions is the Power of Attorney.

Types of real estate properties and the pros of investing in them?

According to RBI regulations, NRIs are allowed to purchase only two types of real estate investment(s) in India: Commercial and Residential. After you have decided to invest in property in India, the possibility is that you might be in a dilemma over which of the two mentioned options will prove more profitable. Before delving into the advantages and disadvantages of each, it is mandatory to understand which property classify commercial real estate and residential.

Commercial Real Estate: factories, industrial units, offices, hotels, retail stores, medical centers, garages, and warehouses, etc.

Residential Real Estate: Gated communities, independent villas, apartments, co-operative units, etc.

Payment options for NRIs?

Home Loan Eligibility: NRI will be allowed to buy a property if the CIBIL score according to their country's standard are good enough. Salaried NRIs need to show their minimum amount to apply for a loan. Also, they need to be present in India for some time; but they can apply for the loan either online or offline. If they fail to do so, they can ask their General Power of Attorney (GPA) to apply on their behalf. The documents need to be signed at the Indian consulate.

Let your dream home be in Kochi, or Trivandrum, or Kottayam, or anywhere in Kerala, buying your home from Skyline Builders, one of the best home builders in Kerala,who is partnered with famous banks like HDFC, SBI, Axis, ICICI, Canara Bank, Federal, and Corporation Bank will help you get convenient and easy approval for your loans.

Documents required: 1 passport size photograph duly signed, copies of passport, copies of Visa, address proof in the country of residence, PAN card, and power of attorney document.

Documents of salaried individuals: Copy of appointment letter, last 3 months salary slips, bank statement for the last six month, copies of previous appointment letters (if, there).

Documents for self-employed individuals: Income proof, a copy of incorporation of business, partnership deed, bank statement for the last 6 months in company's name, bank statement for the last 6 months in applicant's name, and Office address proof.

Maximum amount and loan tenure: The RBI has restricted a maximum loan to 85% subject to the applicant's monthly income. Loan amounts might vary from 4-5 lochs to 4-5 crores (depending on the bank). When it's about tenure - Five to fifteen years to repay the amount.

Method of re-payment: They can re-pay the loan using their NRO, FCNR or NRE accounts. They can also re-pay through EMI.

Any pre-possession checklist for the home?


  • Approved Plan Layouts

  • Building Completion Certificate

  • Original registration deed and other documents

  • Occupation Certificate


  • Windows and Doors

  • Ceiling and Walls

  • Tiling and Floor

  • AC Ducts and Switches

Any Tax implications of selling a property?

The factors that contribute to the amount as tax payable:

  • Charges liable to the society

  • The capital gains determined by the date of sale

  • The value of the agreement based on the profit gained

  • Other pending loans.

On That Note: If you are looking for Home builders in Palakkad, get in touch with an expert team of OMG Properties which is certainly one of the most trustworthy builders in Palakkad. With a span of 8 years, they have been providing comfortable and opulent residences at easygoing prices across Palakkad, Kerala. Robust engineering, on-time delivery, superlative building materials, customer-centric approach, and transparency in all phase of business conduct have made them one of the most preferred real estate companies in Palakkad, Kerala. Not to miss, they tend to give value to every square foot you think of investing. So, think no further. If you have any question regarding the NRI buying property guide. You have the answer - OMG Properties. You can either email them or ping. Good Luck!


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