If you’re an NRI, the following documents are needed on your end to make the land purchases:
Power of attorney in the name of a person residing in India who can carry out legal and financial proceedings on your behalf
Your PAN Card
A copy of your passport (in case you’re PAN card is unavailable)
An NRE or NRO account to carry out transactions with the builder
Property purchase is one of the best options for NRIs in terms of investment, especially in India. With continuous amendments and revisions in the Land Acquisition Act, relaxation of FDI rules and the Real Estate Regulatory bill, NRIs are benefiting more and more with time in the domain of property purchase. The Reserve Bank of India grants permission to NRIs to purchase or sell land either through foreign exchange (for which any Indian bank can be used as a medium) or through NRE/FCNR accounts. A copy of it has to be submitted to the central office of The Reserve Bank of India within a period of 90 days post the purchase; though no official permission is required to make the purchase and hence the buyer has all the freedom here
You’re eligible to make purchases if you’re an NRI residing outside at the moment, PIO (Person of Indian Origin) who’s owned an Indian passport at any point, or someone who’s father or grandfather was an Indian citizen according to the Constitution of India or the Citizenship Act, 1955.
Puravankara as a Real Estate Enterprise has built both residential and commercial properties keeping in mind all the technicalities and luxuries as per an NRIs requirement. It has ensured to make your process of investment as convenient as possible, keeping in mind. So come, invest both your money, and trust in us with complete safety.
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