Every year several Indians leave the shores of their native land in search of better prospects and a better life. However, the one common strain amongst those who left long ago and those who left even yesterday is that they continue to retain their ties with the homeland. As an investment or as a retirement home, Indian real estate has always held immense interest for the NRI.
Lets look at the rules and regulations as applicable to the real estate sector. Property investment in India, almost regardless of geography has been an immensely profitable avenue. A vast majority of NRIs are keenly interested in the real estate space — either they are looking to buy property in India or sell property that they owned (before becoming NRIs) or inherited during the time that they were abroad.
Buy as many properties as you wish
There is a perception amongst some NRIs that they can buy a maximum of two houses in India. There is absolutely NO restriction on the number of houses that an NRI or even a Person of Indian Origin (PIO) can buy or sell — only agricultural land remains out of bounds.
More : moneycontrol.com
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