NRI Corner
Parkview is one of the top real estate developer in Ahmedabad, offering comprehensive office and residential space solutions in a variety of real estate categories, with its main office in Ahmedabad.
The group's strong brand and execution capabilities have drawn top financial investors from all over the world. The business has continuously delivered luxurious living through unique solutions—not just by building structures, but also by building better lives.
About NRI-Corner
Parkview works with the leading vendors and professionals in the facilities management field to provide excellence in every aspect of development. We offer real estate solutions that satisfy our NRI clients' expectations as we are aware of their needs. Please contact us for additional details.
FAQ
An Indian Citizen is considered a non-resident if they travel abroad for work/business, or vocation outside under circumstances indicating an intention for an uncertain duration of stay.
A person of Indian origin is defined as someone (who is not a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal, or Bhutan) who:
- 1. Owned an Indian passport at any point in time; or
- 2. Whose father or paternal grandfather was an Indian citizen under the Citizenship Act of 1955 or the Indian Constitution.
The following groups can freely purchase real estate in India under the general authorization that is available:
- Non-Resident Indian (NRI)
- Person of Indian Origin (PIO)
The general authorization, however, covers only the purchase of residential and commercial property.
yes
Non-resident individuals can engage in the purchase or sale of residential property through gifts. The Reserve Bank grants general permission to non-resident Indians (NRIs), allowing them to buy or sell NRI properties as gifts to or from a relative, who can be an Indian citizen or a person of Indian origin (PIO), regardless of their residence in India.
Yes, non-resident Indians (NRIs) are permitted to purchase commercial real estate other than agricultural land, farmhouses, or plantation properties under the general permission granted by the Reserve Bank as long as the purchase consideration is satisfied by either inward foreign exchange remittances made through regular banking channels or by funds from the purchaser's NRE/FCNR accounts held with Indian banks, and a declaration is made to the Reserve Bank's Central Office in form IPI 7 within 90 days from the date of the property acquisition/final payment of purchase consideration.
The Reserve Bank has granted general permission to certain housing finance institutions, such as HDFC, LIC Housing Finance Ltd., and authorized dealers to grant housing loans to NRI nationals for the purchase of an NRI house/flat for self-occupation, subject to certain conditions.
The loan's purpose, margin requirements, and loan amount will all be subject to the same standards as those that apply to Indian residents. The loan must be repaid within a maximum of 15 years, either with money from the investors' NRE/FCNR/NRO accounts or by inward remittances made through banking channels.