Can NRIs invest in distressed properties?

Non-Resident Indians (NRIs) are major investors in Indian real estate, and auctions are no exception.

FEMA Regulations

The Foreign Exchange Management Act (FEMA) allows NRIs to purchase immovable property (residential/commercial) in India. However, they cannot purchase agricultural land, plantation property, or farmhouses.

Payment Mode

All payments for the auction (EMD, 25%, 75%) must come from legitimate banking channels. You should use your NRO (Non-Resident Ordinary) or NRE (Non-Resident External) account. You cannot pay via cash or traveler's cheques. The Sale Certificate will be issued in the name matching the NRE/NRO account holder.