NRI Buying Property in Gurgaon: FEMA Rules, Payments, Loans and Repatriation

An NRI buying property in Gurgaon needs no RBI permission to buy a flat, an office or a shop, and there is no limit on the number of homes. The same rules cover OCI cardholders. What NRIs and OCIs cannot buy is agricultural land, a farmhouse or plantation property. Payment must be made in rupees through Indian banking channels, either as an inward remittance or from an NRE, NRO or FCNR account.

FEMA Rules for NRI Property

The rules come from the Foreign Exchange Management Act and the non-debt instrument rules made under it. They allow a residential or commercial purchase by an NRI or OCI under general permission, so the buyer deals only with the developer, the bank and the sub-registrar.

The restricted categories can still come to an NRI through inheritance, but not through purchase. If a property marketed as a farmhouse or built on agricultural land is offered to you, the restriction applies whatever the brochure calls it.

NRE Account Property Payment and Other Channels

Every payment, from the EOI to the last instalment, should be traceable to these channels, with the bank's record kept safely. Cash, traveller's cheques and foreign currency notes cannot be used.

The choice of account matters years later. Money paid from an NRE or FCNR account, or remitted from abroad, counts as foreign exchange brought into India, and that figure decides how much of the sale price you can send back when you sell. Money paid from an NRO account does not count the same way.

For a new launch such as Godrej Verano on Golf Course Extension Road, where the EOI is ₹10 lakhs, that means sending even the first token from the account you plan to use for the whole purchase.

NRI Home Loan Rules

Indian banks and housing finance companies lend to NRIs for residential property, in rupees. RBI loan-to-value limits are the same as for residents, so a flat above ₹75 lakhs can be financed up to 75 percent of its value. EMIs are paid from an NRE or NRO account or by inward remittance.

Lenders usually ask for a passport with a visa or work permit, overseas salary slips and bank statements. Overseas documents take time to collect and attest, so start the NRI home loan application when you book, not when the first demand letter arrives.

Power of Attorney for NRI Buyers

Most steps can be handled from abroad, but registering the agreement for sale and the conveyance deed needs the buyer or an authorised person at the sub-registrar's office. A specific power of attorney, limited to the named property and the named acts, is safer than a general authority over all your affairs.

A power of attorney for an NRI signed outside India must be attested at an Indian embassy or consulate, or apostilled in a country that follows The Hague Convention, and then stamped in India within 3 months of arriving here.

TDS When an NRI Buys from a Developer

Residency does not change the buyer's duty to deduct tax. When the price is ₹50 lakh or more and the seller is a resident developer, the NRI buyer deducts 1 percent from each payment and files Form 141, which replaced Form 26QB from 1 April 2026.

The rules change when the seller is also an NRI, as in many resale deals. The buyer then deducts tax on the seller's capital gains at the rates for non-residents, which is far higher, and needs a TAN to do it. Ask whether the seller holds a lower deduction certificate before paying.

Documents NRIs Need to Buy Property

Keep a set of these ready in both scanned and printed form: passport, visa or OCI card, PAN card, overseas address proof, recent photographs, and statements of the NRE or NRO account used for payments.

If an attorney signs for you, add the attested and stamped power of attorney and the attorney's own identity proof. Developers and lenders ask for these documents at several stages, so a single folder avoids repeated requests.

Gifted or Inherited Property for NRIs

Under FEMA and OCI property rules, an NRI or OCI can also receive a flat or office as a gift from a relative, whether the relative lives in India or abroad, and can inherit property of any kind from a person who held it lawfully. The repatriation limits that apply on a later sale are different for gifted and inherited property, so keep the gift deed or succession papers with the title documents.

NRI Rental Income from a Gurgaon Flat

Rent from a flat in India is taxable in India and is credited to an NRO account. A tenant paying rent to a non-resident owner must deduct tax at source before paying, which many tenants do not expect, so put it in the rent agreement. After tax, NRI rental income can be sent abroad from the NRO account.

Repatriation of Sale Proceeds

When you sell, the money is first credited to an NRO account. For a property bought as an NRI, you can send abroad only the foreign exchange you brought in to buy it, and this applies to no more than 2 residential properties.

Any balance falls within the general NRO limit of USD 1 million per financial year, after tax, with your chartered accountant's Form 15CB and your own Form 15CA filed through the bank.

NRI Investment in Gurgaon Under Construction Projects

NRI investment in Gurgaon under-construction projects works best when you read the project's RERA page yourself, since it shows approvals, conditions, and progress without relying on phone updates. Plan for 2 visits or a power of attorney: the first to sign the purchase agreement and the second for possession and registration, listed for March 2031 at the project above.

Track every demand letter closely. A missed construction-linked payment can attract interest under the agreement, and transfers from abroad can take a few working days to clear, so keep the next instalment ready in your Indian account ahead of time.

Exchange Rates and Timing for NRI Buyers

An under-construction purchase is paid in rupees over several years, so the cost in dollars, dirhams or pounds moves with the exchange rate at each instalment. Some buyers move a larger sum into their NRE account when the rate suits them and pay later from that balance, avoiding the delay caused by a transfer that takes days to clear.

The same logic applies at the other end. Rent and sale proceeds are earned in rupees, so the return measured in your home currency depends on the rate when you send money back, not only on how the property's price moves.

NRI Property Purchase in India: Step by Step

1. Open or confirm your NRE and NRO accounts and apply for a PAN if needed.
2. Check the project's RERA registration and shortlist units from the price list.
3. Pay the EOI and booking amount from the account you will use throughout.
4. Sign and register the purchase agreement in person or through your attorney.
5. Arrange the home loan, if any, and pay each instalment with TDS deducted.
6. Register the conveyance deed at possession and keep every bank record for resale.

Frequently Asked Questions

Can an NRI buy property jointly with a resident relative?

Yes. An NRI can co-own a flat with a resident Indian or another NRI. Keep each person's payments clear in bank records, since repatriation limits and tax are worked out on each owner's own contribution to the purchase.

Does an NRI pay higher stamp duty in Haryana?

No. Haryana stamp duty depends on the owner's gender and whether the property is inside municipal limits, not on residency, so an NRI pays the same rate as a resident buyer in the same position.

Does an NRI need a PAN to buy property in India?

In practice, yes. The buyer needs a PAN to deposit the tax deducted on the purchase, and an NRI who earns rent or a capital gain in India needs it to file an Indian income tax return.

Points to Settle with Your Chartered Accountant

Foreign exchange and tax rules in this guide are those in force in October 2026. Tax on rent and capital gains also depends on the treaty between India and your country of residence.

For the price list, payment plan and RERA details of the project mentioned here, use the enquiry form on this site.