OCIs are permitted to invest in both residential and commercial properties in India. However, agricultural land, plantation properties, and farmhouses are generally off-limits unless inherited.
Research: Identify cities with high growth potential like Delhi, Mumbai, Bangalore, Chandigarh ect. Type of Property: Decide between residential, commercial, or mixed-use properties based on investment goals.
OCI Card: Ensure you have a valid OCI card. PAN Card: Obtain a Permanent Account Number (PAN) for tax purposes. Documentation: Prepare essential documents such as passport, proof of address, and OCI card.
Funding: Use NRE/NRO accounts for transactions. Home loans are available for OCIs from Indian banks. Taxation: Understand the tax implications, including capital gains tax and rental income tax.
Consult Real Estate Developer: Engage a reputable real estate developer familiar with OCI investments. Legal Assistance: Consult a lawyer for due diligence and to verify property titles. Register the Property: Complete the registration process, ensuring all legalities are followed.