Buying in Gurugram as an NRI — Accounts, Rules and Paperwork

NRIs are a significant share of buyers in Gurugram's ₹6 Cr+ segment, and the process is well established — but it has specific requirements that are easier to satisfy in advance than to fix mid-transaction.

What NRIs can and cannot buy

Under India's foreign exchange framework, an NRI or OCI cardholder may acquire residential and commercial property in India without prior approval. What is not permitted without specific approval is agricultural land, plantation property and farmhouses.

A residential apartment at a project like Godrej Verano falls squarely within the permitted category.

How payment must be routed

This is the requirement most often mishandled. Payment must be made through normal banking channels in Indian rupees — typically:

• From an NRE (Non-Resident External) account, or
• From an NRO (Non-Resident Ordinary) account, or
• By inward remittance through normal banking channels

Payment in foreign currency, in cash, or through travellers' cheques is not permitted. Keep the remittance advice for every instalment — you will need it at repatriation.

Power of attorney

Most NRI buyers cannot attend every signing in person. A specific power of attorney in favour of a trusted family member in India — executed and attested at the Indian consulate in your country of residence, then adjudicated and stamped in India — covers agreement execution, registration and loan formalities.

Use a specific POA listing the exact acts permitted, not a general one. Draft it with an Indian conveyancing lawyer before you need it; consular attestation takes time.

Home loans

Indian lenders offer home loans to NRIs, generally with a shorter maximum tenure than for residents and with repayment required through NRE/NRO accounts or inward remittance. The same pre-registration disbursal constraints apply at a new launch.

Tax and TDS

Two points to plan for:

• On purchase, TDS obligations apply to the buyer on payments to the seller; for a purchase from a developer, this is handled within the transaction structure.
• On eventual sale, capital gains apply, and TDS deducted from an NRI seller is at a higher rate than for residents. Relief mechanisms exist but require advance planning.

Take advice from a chartered accountant familiar with NRI transactions before your first payment, and again before sale.

Documents to prepare

• Passport and visa, or OCI/PIO card
• Overseas address proof
• PAN card — mandatory
• NRE/NRO account details
• Passport-size photographs
• Power of attorney, if you will not attend in person
• For a loan: overseas income proof, employment contract, and overseas credit report where required

Practical sequencing for a new launch

At EOI stage the requirements are light — identity, PAN and payment from a compliant account. The heavier documentation lands at agreement stage, after HRERA registration. Use the intervening period to get POA and banking in order.

FAQs

Can an NRI buy an apartment in Gurugram?

Yes. NRIs and OCI cardholders may acquire residential and commercial property in India without prior approval. Agricultural land, plantation property and farmhouses require specific approval.

How should an NRI pay for property in India?

Through normal banking channels in Indian rupees, from an NRE or NRO account or by inward remittance. Cash and foreign currency payments are not permitted.

Do NRIs need a power of attorney to buy property?

Not mandatory, but a specific power of attorney is practical if you cannot attend signing and registration in person. It must be properly attested and stamped.

Can an NRI get a home loan in India?

Yes. Indian lenders offer NRI home loans, usually with a shorter tenure than resident loans and with repayment through NRE/NRO accounts or inward remittance.