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Big Reasons to Buy

India’s real estate landscape is evolving steadily, unlocking new and exciting investment opportunities. As global property markets appreciate, India stands out as a prime destination for investors. Non-Resident Indians (NRIs) seeking to reconnect with their roots now have a wealth of options to explore. At Radiant Assets, we bring you a curated selection of premium homes across South India, offering exceptional investment prospects and the chance to own your dream home. Discover radiant opportunities with us today!

Thriving Real Estate Market

High Returns on Investment

Tax Advantages

Diverse Investment Options

Flexible Financing Solutions

onvenient Down Payment Plans

Frequenty Asked Questions

Who is an NRI?

An NRI (Non-Resident Indian) is an Indian citizen who resides outside India for employment, business, education, or any other purpose for an extended period. NRIs maintain Indian citizenship but are classified differently for taxation and legal purposes based on their duration of stay in India.

A PIO (Person of Indian Origin) is an individual of Indian ancestry who is not a citizen of India but has roots in the country. The PIO status was previously granted to foreign nationals of Indian descent, allowing them certain benefits in India. However, in 2015, the PIO card scheme was merged with the OCI (Overseas Citizen of India) card, making OCI the primary status for persons of Indian origin residing abroad.
In India, property can be purchased by Indian citizens, Non-Resident Indians (NRIs), and Overseas Citizens of India (OCIs). Foreign nationals generally cannot buy property, except in specific cases like inheritance. NRIs and OCIs can invest in residential and commercial properties but are restricted from purchasing agricultural land, plantation properties, or farmhouses.
An OCI (Overseas Citizen of India) is a foreign national of Indian origin who holds an OCI card, granting them lifelong visa-free travel and residency in India. While they do not have full citizenship rights, they can work, own property, and participate in economic activities, but they cannot vote or hold government positions.
NRIs (Non-Resident Indians) can buy residential and commercial properties in India without any restrictions. However, they cannot purchase agricultural land, plantation property, or farmhouses unless inherited or gifted. All transactions must comply with FEMA (Foreign Exchange Management Act) regulations, and payments should be made through Indian banking channels using NRI accounts.
  • Salary Slips – Usually for the last 3–6 months to verify income.
  • Bank Statements – Recent 3–6 months’ statements to confirm salary credits.
  • Form 16 – Issued by the employer for income tax proof.
  • Income Tax Returns (ITR) – Filed returns for the last 2–3 years.
  • Identity Proof – Aadhaar, PAN card, passport, or driving license.
  • Address Proof – Utility bill, rental agreement, or Aadhaar card.
  • Employment Proof – Offer letter or employment certificate.
NRIs need essential documents like a valid passport, PAN card, OCI/PIO card (if applicable), proof of address, a power of attorney (if buying remotely), and bank account details (NRE/NRO account) to purchase property in India.
  • General PoA – Grants broad powers to the agent to act on behalf of the principal in legal, financial, and business matters.
  • Special/Specific PoA – Limits authority to specific tasks or transactions, such as selling property or managing a bank account.
  • Durable PoA – Remains valid even if the principal becomes incapacitated.
  • Non-Durable PoA – Becomes invalid if the principal is incapacitated.
  • Medical PoA – Allows the agent to make healthcare decisions on behalf of the principal.
  • Springing PoA – Becomes effective only under certain conditions, usually upon the principal’s incapacitation.
A Power of Attorney (POA) is a legal document that allows one person (the principal) to grant another person (the agent or attorney-in-fact) the authority to act on their behalf in legal, financial, or medical matters. The POA can be general, covering broad powers, or specific, limited to certain tasks. It can also be durable, remaining valid even if the principal becomes incapacitated.
A Power of Attorney (PoA) allows an appointed person (agent) to act on behalf of another (principal) in legal, financial, or medical matters. The agent can perform tasks such as managing bank accounts, signing documents, handling real estate transactions, making healthcare decisions, and representing the principal in legal proceedings, depending on the type and scope of the PoA.

NRIs applying for a home loan must meet specific guidelines, including eligibility criteria such as minimum age (typically 21-60 years), employment stability, and income proof from a recognized foreign employer or business. Most banks require a valid passport, visa, overseas address proof, and salary slips or income tax returns. Loan tenure is usually up to 20-30 years, with interest rates slightly higher than resident loans. Repayment must be made through NRE/NRO accounts via inward remittances. A Power of Attorney (PoA) in favor of a local representative is often required for documentation and property dealings.

  • Choose an Agent – Select a trusted person to act on your behalf.
  • Determine the Type of PoA – Decide between general, specific, durable, or medical PoA based on your needs.
  • Draft the Document – Prepare a legally valid PoA document outlining the agent’s powers.
  • Sign and Notarize – Sign the document in the presence of a notary and witnesses (if required by law).
  • Register (if required) – In some cases, PoA must be registered with the appropriate authority.
  • Share Copies – Provide copies to relevant parties like banks or legal institutions.
  • Revoke if Necessary – The PoA can be revoked anytime with a written notice.
Individuals, businesses, and entities earning taxable income above the exemption limit set by the government must file an income tax return. This includes salaried employees, self-employed professionals, freelancers, companies, and those with capital gains, rental income, or foreign earnings.
NRIs need essential documents for a home loan, including a valid passport, visa, proof of overseas employment, salary slips, bank statements, NRE/NRO account details, property documents, and a power of attorney (if required). Lenders may also request credit reports and tax returns for loan approval.
NRIs can file income tax returns in India online through the Income Tax Department’s e-filing portal. They must determine their taxable income, choose the appropriate ITR form (usually ITR-2 or ITR-3), and ensure compliance with tax deductions and exemptions. Filing can be done using their PAN, Aadhaar (if applicable), and digital signature or electronic verification methods like OTP or net banking. The deadline for filing is typically July 31st, unless extended.
Individuals exempted from filing income tax include those whose total income is below the basic exemption limit set by the government, senior citizens meeting specific criteria, individuals with only tax-exempt income, and certain categories like agricultural income earners. Specific exemptions also apply to diplomatic personnel and other notified entities.
Capital Gains Tax for NRIs is calculated based on the type and duration of the asset held. Short-term capital gains (STCG) on listed equities (if sold within 12 months) are taxed at 15%, while other assets are taxed as per the applicable income tax slab. Long-term capital gains (LTCG) on equities (above ₹1 lakh) are taxed at 10% without indexation, while other assets like real estate are taxed at 20% with indexation benefits. Tax is deducted at source (TDS) when an NRI sells property in India. However, tax liability can be reduced through exemptions under Sections 54 and 54EC.
The Reserve Bank of India (RBI) has laid down guidelines for the repatriation of funds by Non-Resident Indians (NRIs) and foreign investors to ensure smooth and regulated transactions. Key provisions include:
  • NRE & FCNR Accounts –Funds in Non-Resident External (NRE) and Foreign Currency Non-Resident (FCNR) accounts are fully repatriable.
  • NRO Accounts – Repatriation from Non-Resident Ordinary (NRO) accounts is restricted to $1 million per financial year, subject to tax compliance.
  • Property Sale Proceeds – NRIs can repatriate up to $1 million per year from property sales, provided taxes are cleared.
  • Investment Earnings –Dividends, interest, and capital gains from Indian investments are generally repatriable under FEMA rules.
  • Approval & Documentation – Certain transactions require RBI approval, and proper documentation such as Form 15CA/15CB is needed for tax compliance.
Capital Gains Tax (CGT) exemptions vary by country but generally include exemptions for primary residences, certain small business assets, inherited assets, and specific investment vehicles like retirement funds. Some jurisdictions also offer exemptions for gains below a certain threshold or for reinvestment in similar assets.
Yes, rental income earned in India by NRIs (Non-Resident Indians) and OCIs (Overseas Citizens of India) can be repatriated, subject to certain conditions. As per RBI regulations, up to $1 million per financial year can be repatriated, provided applicable taxes are paid, and a certificate from a Chartered Accountant (Form 15CA & 15CB) is obtained.
The Reserve Bank of India (RBI) has laid down guidelines for the repatriation of funds to ensure compliance with the Foreign Exchange Management Act (FEMA). Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) can repatriate funds from their Non-Resident External (NRE) and Foreign Currency Non-Resident (FCNR) accounts freely. For Non-Resident Ordinary (NRO) accounts, repatriation is limited to $1 million per financial year, subject to tax compliance. Sale proceeds of immovable property can be repatriated under specific conditions. Documentation and adherence to RBI norms are essential for smooth fund transfers.
Income from selling or renting property in India is taxable for NRIs under the Income Tax Act. Rental income is subject to a 30% TDS deduction, while capital gains tax applies to property sales—20% for long-term gains (property held for over two years) and as per the income slab for short-term gains. NRIs can claim deductions under sections like 80C and 54 for exemptions or reductions.