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Rajdhani Realtors

We introduce ourselves as a conglomerate of Realtors, who deal in the vicinity of NCR (National Capital Region, India) in residential, commercial as well as land transactions.

Due to our office’s strategic location, excellent infrastructure and above all our impeccable reputation (factors which make us arguably the best in the business for the last 15 years) we have a steady and regular flow of buyers, investors and corporate clients who we not only provide rental/sale service for but also provide consultation to its work force for various investment proposals in both residential and commercial options.

Frequently Asked Questions

 

Questions

1. How do I Find Properties
2. Who is a NRI ?
3. Who is a PIO?
4. What are the types of Properties that a NRI/PIO can purchase in India?
5. Do NRI/PIO require permission of The Reserve Bank to acquire residential/ commercial property in India?
6. How should the purchase of residential immovable property be paid for by NRI/ PIO under the general permission?
7. Does a NRI/PIO, requires to have a company in India or abroad or both for purchasing of property?
8. Can NRI/ PIO's acquire or dispose residential property by way of gift?
9. Is there are any Lock in period for such investment?
10. Can NRI/PIO sell their purchased property without the permission of Reserve Bank?
11. Can the sale proceeds of such property (if and when sold) be remitted/repatriated out of India?
12. In case of repatriation is there any tax liability to the Indian Government?
13. Can the properties (residential/commercial) be given on rent if not required for immediate use?
14. Can rental Income be repatriated?
15. Can NRIs and Overseas Corporate Bodies (OCBs) invest in India?
16. Can a person of Indian origin acquire any immovable property in India by way of inheritance?
17. Are NRIs permitted to send remittances outside India out of the assets in India that are inherited by them?
18. What is Foreign Exchange Management Act (FEMA)?
19. Can a person of Indian origin resident outside India gift properties acquired earlier in terms of the provisions of FERA/FEMA?

Answers

1. How do I Find Properties
You can find the properties listed on the bottom end of the page on the right side, The properties you can see by types like:
  • By Area
  • By Type
  • All Properties
  • Properties Which are Popular
2. Who is a NRI ?
A NRI (Non Resident Indian) is a person residing outside India who is either a citizen of India or a person of Indian origin. A NRI is an Indian Citizen who has migrated to another Country.For all official purpose the Government of India considers any Indian National residing outside the country for more than 182 days in a year, as a NRI.
3. Who is a PIO?
A Person of Indian Origin (PIO) means an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan) who:
i) held an Indian Passport at any time, or
ii) who or whose father or paternal grand father was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955.
4. What are the types of Properties that a NRI/PIO can purchase in India?
There are no restrictions on the numbers of Residential/Commercial Properties (other than agricultural land/farm house/plantation) that can be purchased.
5. Do NRI/PIO require permission of The Reserve Bank to acquire residential/ commercial property in India?
No. All Indian citizens are entitled to buy property in India, irrespective of their residential status.
6. How should the purchase of residential immovable property be paid for by NRI/ PIO under the general permission?
The purchase consideration should be met either out of inward remittance in foreign exchange through normal banking channels, or out of funds from NRE/FCNR(B)/NRO accounts maintained with banks in India.
7. Does a NRI/PIO, requires to have a company in India or abroad or both for purchasing of property?
No
8. Can NRI/ PIO's acquire or dispose residential property by way of gift?
Yes, NRIs and PIOs can freely acquire immovable property in India by way of gift either from
(i) person resident in India
(ii) NRI
(iii) PIO
However the property can only be commercial or residential.
Again NRIs and PIOs may gift residential/ commercial property to
(i) person resident in India
(ii) NRI
(iii) PIO
(iv) Foreign national of non Indian origin - with approval of RBI
9. Is there are any Lock in period for such investment?
Currently there is no lock in period.
10. Can NRI/PIO sell their purchased property without the permission of Reserve Bank?

Yes. Reserve Bank of India has granted general permission for sale of such property to the following categories:-

a) To a NRI
b) To a PIO (If the seller is a PIO, then a prior approval is required from RBI)
c) To a Resident of India

11. Can the sale proceeds of such property (if and when sold) be remitted/repatriated out of India?
Yes the sale proceeds can be remitted/repatriated out of India
In the event property acquired out of foreign exchange source i.e. remittance through normal banking channels/ debit to NRE/ FCNR(B) accounts, the amounts to be repatriated should not exceed the amount paid for such property from such source. However, repatriation of sale proceeds purchased out of foreign exchange is restricted to not more that two residential properties, in a block of one year, with a facility of crediting the Capital gain to the NRO account.
Again in the event the property was acquired out of Rupee source, an amount not exceeding USD one million, per financial year, subject to tax compliance, out of balance held in NRO account, may be remitted/repatriated.
12. In case of repatriation is there any tax liability to the Indian Government?
Yes, during repatriation Capital Gains (Long Term/Short Term) as applicable will be attracted.
Long Term Capital Gains: For properties held for 36 months or more are termed as
Long Term Capital Assets, and currently attracts a rate of 22.6%
(Fin. Year: 2007-08)
Short Term Capital Gains: For properties held for less than 36 months are termed as
Short Term Capital Assets, and currently attracts a rate of 33.9%
13. Can the properties (residential/commercial) be given on rent if not required for immediate use?
Yes.The Reserve Bank has granted general permission for letting out any immovable property in India.
14. Can rental Income be repatriated?
Repatriation of income derived out of letting of immovable property is permissible. NRI/PIO can rent out the property without approval of Reserve Bank. Rent received can be credited to NRO/NRE account or remitted abroad. Powers have been delegated to the Authorised Dealers to allow repatriation of current income like rent, interest, dividend etc. of NRI/PIO who do not maintain an NRO account in based on an appropriate certification by Chartered Accountant, certifying that the amount proposed to be remitted is eligible for remittance and that applicable taxes have been paid/ provided for.
15. Can NRIs and Overseas Corporate Bodies (OCBs) invest in India?
  • Investments by NRIs and OCBs are allowed, both, through the RBI route and also through the Government route, i.e., through the Foreign Investment Promotion Board (FIPB).
  • NRIs and OCBs are permitted to invest up to 100% equity in real estate development activity and civil aviation sectors.
  • Investment, made by the NRIs and OCBs, are fully repatriable, except in the case of real estate, which has a 3 year lock-in period on original investment and, 16% cap on dividend repatriation.
  • For those proposals that do not qualify under the automatic route, Government approval is granted through FIPB.
16. Can a person of Indian origin acquire any immovable property in India by way of inheritance?
A person of Indian origin, resident outside India, may acquire any immovable property in India by way of inheritance from a person, resident outside India, who had acquired such property in accordance with the provisions of foreign exchange law in force at the time of acquisition by him or the provisions of Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) Regulations, 2000. Immovable property, by way of inheritance, can also be acquired by a person of Indian origin resident outside from a person resident in India.  
17. Are NRIs permitted to send remittances outside India out of the assets in India that are inherited by them?
Yes. RBI will consider application from NRIs for remittance of assets, inherited by them in India. Such remittance may be permitted up to US$ 100,000 per year.
18. What is Foreign Exchange Management Act (FEMA)?
Residential status and nature of transaction i.e. capital account transaction (e.g. purchase/ sale of shares, property) or current account transaction (e.g. remittance of income on shares, property) are the cornerstones of FEMA. Under FEMA, certain types of transactions do not require RBI permission while others either require prior approval of RBI/ Government or it is mandatory to inform RBI of the same.
19. Can a person of Indian origin resident outside India gift properties acquired earlier in terms of the provisions of FERA/FEMA?
Yes. A person of Indian origin resident outside India may transfer residential or commercial property in India by way of gift to a person resident in India or to a person resident outside India who is a citizen of India or to a person of Indian origin resident outside India. A Person of Indian origin resident outside India may also transfer by way of gift agriculture land/farm house/plantation property in India to a person resident in India who is a citizen of India.

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