These categories are eligible for the free purchase of immovable property in India under the general permission offered:

Non-Resident Indian (NRI): An Indian national who lives outside of India Persons of Indian origin (PIOs) are people who are not citizens of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal, or Bhutan.

1. at any time possessed an Indian passport; or
2. whose father or grandfather was an Indian citizen under the terms of the Citizenship Act of 1955 or the Indian Constitution (57 of 1955).

The general licence, however, does not apply to the purchase of farmland, plantation property, or residential or commercial real estate in India.

Carpet Area: The region inside the walls that is truly useful, or where a carpet can be actually laid.

Built-up Area: The entire floor, including the carpet, walls, hallways, atriums, and basement. It is recommended to double-check the precise meaning of these terms with the relevant builders/agents because, depending on the city in India, the term may be used to refer to a variety of things.

Super Built-up Area: This term describes the total area of the building, including the atrium and utility rooms as well as the carpeted sections in the lobbies and hallways, walls, elevators, and stairs. It is advisable to double-check the precise meaning of these terms with the relevant builders/agents. This is due to the fact that similar to the built-up area, many parts collectively define a super area in various Indian cities.

Yes. The selling of such property is now generally permitted by the Reserve Bank. However, money for the purchase consideration should either be sent to India or deducted from the balance in NRE/FCNR accounts when the property is bought by another foreign national of Indian descent.

A gift deed must be made by a licenced attorney whenever a property is gifted. Along with the necessary registration fees, stamp duty on the property's market value is also due.

In typically, 75 to 85 per cent of the cost of the purchased property is covered by banking financial institutions. The down payment, which is the amount left over, is paid in full upfront.

The tax you pay on your property paperwork when you sell or transfer the property is known as stamp duty.

Based on the larger of the property's agreed value or market value, stamp duty is computed.

Legally, a person's actual ownership area is used to determine how much maintenance fees for a property should be.