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NRI Section

Home is the place where you figure out to laugh, share, live and forgive. NRIs or Non Resident Indians feel the same way too. It can be cumbersome and tedious for NRIs to locate and research real estate premises from abroad. Satyamev Group understands these needs deeply and assists NRIs in buying/leasing/selling commercial as well as residential premises in their home country.

Having served over Too many home-seekers in a short span of time, Satyamev Group is the ideal partner when it comes to dealing with real estate projects. With the Dollar prices on a high roll, the time is right for property investments and partnering with Satyamev Group will empower you to identify, check, shortlist, negotiate and finally purchase real estate premises which are best suited to your needs. In other words, Satyamev Group covers the whole spectrum of property purchase expertly and efficiently.

Complete with a strong brand reputation and professional know-how, Satyamev Group is a standout amongst the most looked for after organizations with regards to giving lavish ways of life to NRIs. We comprehend that NRIs are all around voyaged individuals with panache and clean and consequently, we investigate every possibility with regards to offering them with only the best. With Satyamev Group extensive network and reach, NRI client assistance is fast becoming our new area of expertise.

Why Satyamev Group for NRI Investment in the Real Estate Market:

Satyamev Group is constantly working making more up to date benchmarks of structural magnificence in the global environment. The projects developed by Satyamev Group stand apart as apotheosis of class and stature unmatched by any other constructions around it.

It is hence, that Satyamev Group is the preferred partner for NRIs investing here. The Indian government has played a major role in supporting the growth of the real estate sector by allowing NRI investment and Foreign Direct Investment [FDI] in real estate. With an exceptionally good return on investment, the real estate sector has become the preferred choice for most of the foreign investors.

Indian real estate industry is witnessing a surge in the NRI and PIO (Person of Indian Origin) investments. This is due to the fact that real estate companies in India are not only matching, but surpassing the standards of quality and value found abroad. Moreover, NRIs want to make the most of the opportunities offered by the growing real estate market in India.

  • Who is a non-resident Indian (NRI)?

    An Indian Citizen who stays abroad for employment/carrying on business or vocation outside India or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a non-resident. (Persons posted in U.N. organisations and officials deputed abroad by Central/State Governments and Public Sector undertakings on temporary assignments are also treated as non-residents). Non-resident foreign citizens of Indian Origin are treated on par with non-resident Indian citizens (NRIs) for the purpose of certain facilities.

  • Who is a PIO?

    A person who is not a citizen of India is deemed to be of Indian origin if he is not a citizen of Pakistan or Bangladesh and if • he at any time held an Indian passport; or • he or either of his parents or any of his grandparents was a citizen of India by virtue of the Constitution of India or Citizenship Act, 1955. A spouse (not being a citizen of Pakistan or Bangladesh) of an Indian citizen or of a Person of Indian Origin is also treated as a Person of Indian Origin for the purpose of NRI deposits if the accounts are held jointly with the NRI/PIO spouse. PIOs are extended the same facilities for bank account maintenance in India as NRIs and are also, for such purposes, called by the generic name as NRIs.

  • Do Non-Resident Indian nationals require permission of the Reserve Bank of India to acquire residential/commercial property in India?

    No permission is required by non-resident Indian nationals to acquire immovable property in India.

  • Do foreign citizens of Indian origin require permission of Reserve Bank to purchase immovable property in India for their residential use?

    Yes, foreign nationals of Indian origin, whether resident in India or abroad, have been granted general permission to purchase immovable property in India. However, this general permission is only available for the purchase of immovable property in India for their bonafide residential purpose.

  • What should be the method of payment for purchasing residential immovable property in India by foreign nationals of Indian origin under the general permission?

    Yes. The Reserve Bank of India has granted general permission for sale of such property. However, where the property is purchased by another foreign citizen of Indian origin, funds towards the purchase consideration should either be remitted to India or paid out of balances in NRE/FCNR accounts.

  • Can such property be sold without the permission of the Reserve Bank of India?

    Yes. The Reserve Bank of India has granted general permission for sale of such property. However, where the property is purchased by another foreign citizen of Indian origin, funds towards the purchase consideration should either be remitted to India or paid out of balances in NRE/FCNR accounts.

  • Can foreign citizens of Indian origin acquire commercial properties in India?

    Yes. Under the general permission granted by Reserve Bank properties other than agricultural land/farm house/plantation property can be acquired by foreign citizens of Indian origin provided the purchase consideration is met either out of inward remittances in foreign exchange through normal banking channels or out of funds from the purchasers’ NRE/FCNR accounts maintained with banks in India and a declaration is submitted to the Central Office of Reserve Bank in form IPI 7 within a period of 90 days from the date of purchase of the property/final payment of purchase consideration.

  • Can the properties (residential/commercial) be given on rent if not required for immediate use?

    Yes. The Reserve Bank of India has granted general permission for letting out any immovable property in India. The rental income or proceeds of any investment of such income has to be credited to NRO account.

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