How a Foreign National Can Buy Real Estate in Gurgaon

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• How a Foreign National Can Buy Real Estate in
  Gurgaon

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• With the passage of time, everything has been
  done digitally. To buy or sell anything, you
  dont need to be physically present at the
  location of the transaction happening. The same
  goes for the real estate business. A buyer
  doesnt look for a property by visiting one place
  or other. Firstly, they do their research online
  by scrolling, through numerous websites developed
  by the agents. After doing so they meet the real
  estate agents.

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• Through these websites, one can find real estate
  according to their preference sitting anywhere.
  Even foreigners can buy Real Estate in Gurgaon
  from anywhere.
• Only foreign national that is resident in India
  can buy land in India. To buy real estate, they
  require RBI approval. Also, the payment cant be
  done in their currency. Payment has to be done in
  Indian currency under the Foreign Exchange
  Management Act (FEMA) or the Reserve Bank of
  Indias regulations.

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• For the acquisition and transfer of immovable
  property, the ministry of external affairs has
  stated certain conditions. Only after the
  completion of these conditions property can be
  transferred. foreign embassies, Diplomats, or
  Consulate Generals in India can purchase a
  property in India excluding agricultural land,
  plantation property, and farmhouse.

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• Conditions to be followed are
• An individual should have permission from the
  Government of India and The Ministry of External
  Affairs.
• The payment for buying must be made via funds
  remitted from abroad through a banking channel.

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• Nature of property that foreign nationals can
  look for are
• Residential projects
• Commercial Projects in Dwarka Expressway
• SCO