Who qualifies as an NRI for property investment in India?
Any Indian citizen residing outside India for more than 182 days in a financial year is classified as an NRI.
Can NRIs buy any type of property in India?
NRIs can buy residential and commercial properties freely. However, agricultural land, farmhouses, and plantation properties are not permitted unless inherited.
Can an NRI jointly own property with a resident Indian?
Yes, provided both are legally eligible. An NRI can also co-own with another NRI/OCI/PIO.
Can NRIs buy property in India in the name of their children or parents?
Yes, as long as the child/parent is an NRI, OCI, or resident Indian.