• M3M Golf Estate M3M Golf estate is spread across 75 acres, it is a concept of having residences over a 9 hole golf course comprising of a spacious 3 & 4 bedroom apartments.
  • DLF King’s Court The most iconic property this city has ever seen. Crafted in the heart of New Delhi, GK-II, W-block.
  • DLF THE BELAIRE The Belaire has some of the finest communities and it promises luxury. Drive pass the splendid DLF Golf Course and reach The Belaire.
  • DLF THE PARK PLACE The Park Place consists of combination of three and four bedroom high rise apartments spread across an area of over 30 acres, in the heart of Gurgaon, with prime access from the Sector road.
  • DLF The Aralias DLF Aralias, the most luxurious residential condominium of Gurgaon gives you a refreshing feel of staying in the middle of Asia’s best Golf Course.
  • IREO SKYON Ireo Skyon a whole new level of living where things happen at the touch of a button of your Blackberry or I-phone whether it is answering the front door, adjusting the curtains, pre-scheduling electrical gadgets, setting safety alerts & much more.
  • JAYPEE SUN COURT Jaypee Sun Court is a set of futuristic 30 storey cylindrical glass tower & every apartment opens out to stunning panoramic view of the 18 hole Greg Norman signature Golf Course.
  • Tata Raisina Residency Tata Raisina Residency offers you an unhindered view of the Aravalli Hill without leaving the city limits. With fluid green landscaping all around and with modern sculptures, murals, carvings and public art spread across the campus.

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NRI Section

 

Trends are changing with many people of Indian origin, even second generation NRIs, opting to purchase vacation homes near their relatives' residence as they want to be independent during their stay in India and not stay with kith and kin. This trend has pushed up the demand for flats in the Metros. Besides residential properties, many NRI industrialists are seeking commercial properties in suitable locations to operate in India .

We very well understand that as an NRI you have a different set of needs with respect to your real estate management and investment requirements and we also understand that it needs special set of services to cater to your requirements. The good news from India is that government has allowed 100% repatriation for NRIs.
Below are some of the points which an NRI should keep in mind while investing in India-

1. All persons, whether resident in India or outside India, who are citizens of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal or Bhutan require prior permission of Reserve Bank for acquiring or transferring any immovable property in India.

2. A person resident outside India, who has been permitted by Reserve Bank to establish a branch, or office, or place of business in India (excluding a Liaison Office), has general permission of Reserve Bank to acquire immovable property in India, which is necessary for, or incidental to, the activity. However, in such cases a declaration, in prescribed form (IPI), is required to be filed wit the Reserve Bank, within 90 days of the acquisition of immovable property.

3. An Indian citizen resident outside India does not require any permission to acquire any immovable property in India other than agricultural/plantation property or a farm house.

4. An Indian citizen resident outside India does not require any permission to transfer any immovable property, to a citizen of India who is resident in India.

5. An Indian citizen resident outside India does not require any permission to transfer any immovable property other than agricultural or plantation property or farm house, to a person who:-
> is a citizen of India resident outside India, or
> is a person of Indian origin resident outside India

6. A person of Indian origin resident outside India does not require any permission to acquire any immovable property other than agricultural land/farm house/plantation property in India by purchase, from out of funds:
> received in India by way of inward remittance through banking channel from any place outside India, or
> held in any non-resident account maintained in accordance with the provisions of the Act and the regulations made by the Reserve Bank under the Act.

7. A person of Indian origin resident outside India does not require any permission to acquire any immovable property in India other than agricultural land/farm house/plantation property by way of gift from a person resident in India or from a person resident outside India who is a citizen of India or from a person of India origin resident outside India.

8. A person of Indian origin resident outside India does not require any permission to 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 the foreign exchange law in force at the time of acquisition by him or the provisions of these Regulations or from a person resident in India.

9. A person of Indian origin resident outside India does not require any permission to transfer any immovable property in India other than agricultural land/farm house/plantation property, by way of sale to a person resident in India.

10. A person of Indian origin resident outside India does not require any permission to transfer agricultural land/farm house/plantation property in India, by way of gift or sale to a person resident in India who is a citizen of India.

11. A person of Indian origin resident outside India does not require any permission to transfer residential or commercial property in India by way of gift to a person resident in India or to person resident outside India who is a citizen of India or to a person of India origin resident outside India.

12. Repatriation outside India, including credit to RFC, NRE or FCNR account, of sale proceeds of any immovable property situated in India, requires prior permission of the Reserve Bank except in circumstances stated in paragraph 13 below.

13. In the event of sale of immovable property, other than agricultural land/farm house/plantation property in India by a person resident outside India, who is a citizen of India, or a person of Indian origin, the authorised dealer may allow repatriation of the sale proceeds outside India, provided All the following conditions are satisfied:-
> the immovable property was acquired by the seller in accordance with the provisions of the Exchange Control Rules/Regulations/Law in force at the time of acquisition, or the provisions of the Regulations framed under the Foreign Exchange Management Act, 1999;
> the sale takes place after three years from the date of acquisition of such immovable property or from the date of payment of final installment of consideration for its acquisition, whichever is later;
> the amount to be repatriated does not exceed
i. the amount paid for acquisition of the immovable property in foreign exchange received through normal banking channels or out of funds held in foreign currency non-resident account or
ii. the foreign currency equivalent, as on the date of payment, of the amount paid where such payment was made from the funds held in non-resident external account for acquisition of the property;
> in the case of residential property, the repatriation of sale proceeds is restricted to not more than two such properties.

14. All requests for acquisition of agricultural land/plantation/property/farm house by any person resident outside India or foreign nationals may be made to the-
Chief General Manager, Reserve Bank of India, Central Office, Exchange Control, Department, Foreign Investment Division (III), Mumbai - 400001.

15. The NRIs/PIOs can freely rent out their immovable property in India without seeking any permission from the Reserve Bank. The rental income being a current account transaction is freely reportable outside India.
P.S- For the purposes of transactions, i.e., transfer, sale, purchase, etc., dealing with immovable property in India, a person of Indian origin is defined as under: "an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan), who at any time, held Indian passport; or who or either of whose father or whose grandfather was a citizen of India by virtue of the constitution of India or the Citizenship Act, 1955 (57 of 1955)."


 
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