FAQ

Persons of Indian Origin do not need any approval by the Government of India to buy immovable properties.
NRE/NRO Accounts
Non Resident Indian need to have an operational NRE and NRO (NRO Non resident Ordinary Rupee Account) Bank accounts set up. NRE accounts are used for pay outs whereas the NRO accounts can be used for depositing funds which can be transferred to the NRE for repatriation as required.
Home Buying Processes for NRIs
If you are an NRI, while conducting property buying transactions for, it is advisable to remit funds from your bank in your country of residence to the Indian bank where the NRE account is set up. If you buy the property through the NRE account, then the source of funds is not required to be disclosed usually to any one as this is your inwards remittance. It is also advisable to remit a certain percentage of the property amount in your Indian bank account prior to leaving India, which can be a down payment with the builder or property owner.
Documents needed to be submitted by salaried Non Resident Indian for home loans
Loan application form duly filled and signed
Two photographs of both the applicant and the co-applicant with signature on front and back
Copy of passport - Along with latest visa stamp and date of entry stamp
Proof of residence in India - Electricity bill, Telephone bill, Ration card, Driving License etc
Copy of credit card - Last six months bank statements of all the NRE / NRO account in India
Last six months bank statements of bank account held abroad where salary is credited - Copy of Contract / Employment Certificate Copy of Annual Salary Certificate specifying the mode of payment (If payment is fully or partly received in cash) Salary Slips for the immediately past 6 months.