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NRI Corner

Overview

Global Developers has been building insightful life spaces since last two decades. So far, we have undertaken 3 residential projects spanning over 3.2 million sq ft of developed space in Bangalore and Pune. This includes budget & luxury apartments, villaments, and multi-storey houses. All the residential spaces are built using our proprietary design concept called PLUS homes. Timely completion with great attention to detail has always been the hallmark of Global Developers.

We have a dedicated team of experts to help our NRI clients with all real-estate related know-how and procedures. Help us with your requirement and we will certainly get back to you with the best solution.

As an NRI you need following documents to buy a property in India:

  • Power of attorney in the name of someone in India who can carry out legal & financial proceedings on your behalf.
  • Your PAN Card.
  • In case your PAN card is not available, then a copy of your passport.
  • An NRE or NRO account via which you can transact with the builder.

FAQs

A Non Resident Indian (NRI) as per India’s Foreign Exchange Management Act 1999 (FEMA), is an Indian citizen or Foreign National of Indian Origin resident outside India for purposes of employment, carrying on business or vocation in circumstances as would indicate an intention to stay outside India for an indefinite period. An individual will also be considered NRI if his stay in India is less than 182 days during the preceding financial year.

A person who is not a citizen of India is deemed to be of Indian origin if he is not a citizen of Pakistan or Bangladesh and if • he at any time held an Indian passport; or • he or either of his parents or any of his grandparents was a citizen of India by virtue of the Constitution of India or Citizenship Act, 1955. A spouse (not being a citizen of Pakistan or Bangladesh) of an Indian citizen or of a Person of Indian Origin is also treated as a Person of Indian Origin for the purpose of NRI deposits if the accounts are held jointly with the NRI/PIO spouse. PIOs are extended the same facilities for bank account maintenance in India as NRIs and are also, for such purposes, called by the generic name as NRIs.

NRIs/OCB's are granted the following facilities:

  1. Maintenance of bank accounts in India.
  2. Investments in securities/shares of, and deposits with, Indian firms/companies.
  3. Investments in immovable properties in India.

Under the general permission available, the following categories can freely purchase immovable property in India:

  1. Non-Resident Indian (NRI) - that is a citizen of India resident outside India
  2. Person of Indian Origin (PIO) - that is an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan), who:
    1. At any time, held Indian passport, or
    2. Who or either of whose father or grandfather was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955). The general permission, however, covers only purchase of residential and commercial property.