For NRIs & OCIs
NRI Guide to Property in Chennai
Buying, selling or investing in Chennai property from abroad? Everything you need — documents, home loans, power of attorney, taxes and repatriation — explained clearly. Browse live listings and connect directly with owners and agents on FIVES.
NRI property guides
Useful tools for NRI buyers
NRI property — frequently asked questions
Can NRIs buy property in India?
Yes. NRIs and OCIs can freely buy residential and commercial property in India (but not agricultural land, plantations or farmhouses). Payments must be made through normal banking channels using NRE, NRO or FCNR accounts.
Do NRIs need to be in India to buy property?
No. An NRI can complete a purchase remotely by giving a registered Power of Attorney to a trusted person in India, executed and attested at the Indian Embassy/Consulate abroad and adjudicated in India.
Can NRIs get a home loan in India?
Yes. Most Indian banks and housing finance companies offer home loans to NRIs, repayable through NRE/NRO accounts. Eligibility, tenure and documentation differ slightly from resident loans.
What tax applies when an NRI sells property in India?
Capital gains tax applies, and the buyer must deduct TDS on the sale. Long-term and short-term gains are taxed differently, and rules changed in Budget 2024 — an NRI can apply for a lower/nil TDS certificate. Always consult a chartered accountant.
Can NRIs repatriate the money from selling property?
Yes, within FEMA limits — generally up to USD 1 million per financial year from an NRO account, for up to two residential properties, with Forms 15CA/15CB filed. Conditions apply; consult your bank/CA.
General information only, not legal or tax advice. NRI property rules (FEMA, income tax, TDS) change and depend on your situation — please consult a qualified chartered accountant or lawyer before transacting.