An NRI residing outside India has permission to purchase the property in India. He can establish his office and business in any area. However, in such a case a declaration is required to be filed with the Reserve Bank, within 90 days of the acquisition of immovable property. An Indian citizen residing outside India does not need any permission for buying property in India, but in cases of plantation, agricultural, farm house property there are some conditions which are supposed to be followed properly.
An NRI do not need any permission to transfer commercial, residential property legally acquired by him in India by way of gift to a person resident in India or to person resident outside India who is a citizen of India or to an NRI.
A person of Indian origin residing outside India or An NRI does not need any permission to acquire any immovable property in India by way of inheritance from a person resident outside India who had acquired such property in accordance with the provisions of the foreign exchange law in force at the time of acquisition by him or the provisions of these Regulations or from a person resident in India.
In the event of sale of immovable property, not including Plantation property, Agricultural land, Farm house in India by a person resident outside India, who is a person of Indian origin or citizen of India, the authorized dealer may allow repatriation of the sale proceeds outside India, provided All the following conditions are satisfied.
The immovable property was acquired by the seller in accordance with the provisions of the Exchange Control Rules/Regulations/Law in force at the time of acquisition, or the provisions of the Regulations framed under the Foreign Exchange Management Act, 1999. After three years from the date of acquisition the sale takes place of such immovable property or from the date of payment of final installment of consideration for its acquisition, whichever is later.