NRIs: Buying a home in India made easy

In recent years, India has been witnessing unprecedented growth in the real estate sector fueled by the increased business activity.

Real estate development in India is estimated at $12 billion and growing at 30% every year. Though all segments of real estate business such as corporate, retail and residential have been driving this growth, NRI investment in residential property itself constitutes 80% of this sector.

Non-Resident Indians (NRIs) are one of the key contributors to the growth of the real estate industry and considering the immense potential in India, they are likely to step-up the investment in future.

In this article, senior tax professionals with Ernst & Young -- Gaurav Taneja and Rajesh S -- provide an overview of the key exchange control and tax implications that should be considered by NRIs while investing in house property in India.
Exchange control