NRI Corner

NRIs can acquire any immovable property(other than agricultural land, plantation or farm-house property) by way of purchase, provided the payment is made out of foreign exchange inward remittance or any Non Resident bank account in India, i.e. Non Resident External Account – NR (E), Foreign currency Non Resident Account – FCNR or Non Resident Ordinary Account – NRO account. Although immovable property is not defined, the same will include:

• Residential property being house property, bungalow, apartment, villas and all other kinds of residential properties
• Commercial property being shops, offices and show rooms
• Industrial property being factory premises and godowns
• Land for construction of any of the above properties,

Acquisition can be made by way of
• purchase
• receiving the property as a gift
• inheritance, and
• share of joint property received upon partition of family or property.

Transfer: Although transfer is not defined under the Regulations, but the definition of FEMA, 99 [Sec. 2(ze) of F.E.M.A. 1999] will apply & include:
• sale for consideration
• exchange of property
• gift of property
• relinquishment of right in a joint property.

Repatriation of Sale proceeds: An NRI being an Indian citizen or a foreign citizen of Indian origin is allowed to repatriate the sale proceeds of an immovable property subject to the following conditions:
• the acquisition should be in accordance with the existing Foreign Exchange Laws (i.e. FERA, ’73 or FEMA ’99).
• the purchase price was met out of Foreign Exchange Inward Remittance or NRE / FCNR (B) account, and
• In case of residential properties, repatriation is restricted to a maximum of two properties.

The NRIs who are staying abroad may enter into an agreement through their relatives by executing the Power of Attorney in their favor if it is not possible for them to be present for completing the formalities of purchase (negotiating with the builder or developer, drafting and signing of agreements and taking possession). Rental income cannot be remitted abroad and will have to be credited to the ordinary non-resident rupee account of the owner of the property.

About Us

We are a PROFESSIONAL Real Estate Services provider with a wide range of solutions catering to every conceivable need. With an invaluable experience of about 10 years in this field, we are dealing in flats, bunglows, offices, residential and commercial projects, hotels. we provide expert end-to-end services for all Real Estate and allied services.

Contact Us


Smart Deal & Investment Pvt. Ltd.,
001, Kenwood Apartments,
Near High Point Restaurant,
Lokhandwala Complex,
Andheri (West), Mumbai – 400053.
Maharashtra, India.

Email: smartdealandinvestment@gmail.com

Contact: +91 – 98331 88536
+91-022-40065656

Testimonials

The effort made by SmartDeal to close the deal is really appreciable. It was almost a lost deal which you made it possible with your convincing skills and personal relation. The continuous endeavour & never give up trait of yours is amazing and will take you to a great height in your path to success.
- Dr. M. K. Shah, Hinduja Hospital

I am very much pleased with the service of SmartDeals. SmartDeals has best trained staff. I was new in Pune but SmartDeals helped me to buy my Dream home. Definitely I will recommend SmartDeals to my friends. Thanks a lot SmartDeals Team.
- Mr. Chandrakant Mathurkar

I would personally like to thank your SmartDeals team for being very professional in handling my deal with Ramprastha Rise project. I would like to have a word of praise for your Gurgaon team for their preseverense and showing utmost care in dealing with me.

- Miss Priya Tekchandani

I am satisfied with the services and the facilities provided to me by SmartDeals. It felt great dealing with them as they were highly professional. They were transparent and handled my query with care.
- Mr. Subramanium Pillai

Buying a house through SmartDeals has been a refreshing experience. The whole process was very transparent. All my questions were patiently answered. At no time was I put under any pressure to rush into my deal.

- Mr. N. Rastogi, Reliance Energy

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