If you are an NRI and wish to buy property in India, there are certain norms and conditions which are laid down by the RBI and it is necessary to follow them. If these are not followed you may not be liable to make any kind of purchase or sell your property in India.
- The NRI has the permission to sell as well as buy any property in India and there is no requirement of producing the document from RBI
- In order to make the payment, the NRIs have to send the remittance through the banking channel which is the only mode.
- If in case the NRI wishes to give their property on their own, they have the whole sole right to do the same
- The NRI can take the help of the agents to buy and sell the property in India but will have to sign the Power of Attorney in the respective name so that the things can proceed as the legal owner cannot be present at the time of buying or selling their property.