NRI · 9 min read
NRI Guide to Buying Property in Amritsar
Punjab's diaspora buys more Amritsar property than any other single group. Here is the account structure, the paperwork and the management plan that makes it work from abroad.
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What You Are Permitted To Buy
NRIs and OCI cardholders may buy residential and commercial property in India without RBI approval. Agricultural land, plantations and farmhouses cannot be purchased, though they may be inherited. Payment must move through normal banking channels — NRE, NRO or FCNR accounts, or inward remittance — never in cash or through a third party.
Getting The Account Structure Right First
Fund the purchase from an NRE account if you intend to repatriate sale proceeds later, because repatriation is cleanest when the source of funds is documented as foreign. Keep every remittance advice and bank statement; at sale, your chartered accountant will need them for the Form 15CA and 15CB filings.
- NRE — repatriable, funded from foreign earnings
- NRO — for India-sourced income such as rent, repatriation capped annually
- FCNR — foreign currency deposit, useful against exchange-rate risk
Power Of Attorney
If you cannot be present for registration, execute a specific power of attorney in favour of a trusted family member, apostilled or attested at the Indian consulate and then adjudicated in India. Write it narrowly — for this transaction, this property, these acts. A general power of attorney over all your Indian assets is an unnecessary risk.
Tax And Repatriation
Rental income from Indian property is taxable in India, with TDS deducted by the tenant where applicable. On sale, the buyer must deduct TDS at the NRI rate on the full consideration, and you can apply for a lower deduction certificate where the actual capital gain is smaller. Repatriation of sale proceeds is permitted up to prescribed limits per financial year with the correct filings.Update Soon.
Managing It From Abroad
A managed, gated address is materially easier to own remotely than a standalone house: a single facility team handles security, upkeep and utilities, and a lock-and-leave apartment does not deteriorate over a two-year absence. Ask what the estate's facility management arrangement will be after handover before you buy — it matters more to an overseas owner than any amenity in the brochure.
