FAQs


What do the terms: Carpet area, Built up area and Super built up area mean?

Built-up Area: The entire area of the floor – the carpet area, walls, lobbies, corridors, atrium areas and basement. It is advisable to cross-check with respective builders/agents the specific meaning of these terms, for colloquially the term may include varying components across different cities in India.

Carpet Area: The usable area within the walls – that is , the area in which you can actually lay a carpet.

Super Built up Area: This refers to the entire area of the building which includes the carpet area, lobbies and corridors, walls, lifts, staircases basements, and other atrium and utility areas. It is advisable to cross-check with respective builders/agents the specific meaning of these terms. This is because like the built up area, colloquially, different components make up a super area in different cities across India.

NRIs

Who is a non-resident Indian (NRI)?

An Indian Citizen who stays abroad for employment/ carrying on business or vacation outside India or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a non-resident. (Persons posted in U.N. organizations and officials deputed abroad by Central/ State Government and Public Sector Undertakings on temporary assignments are also treated as non-resident) Non-resident foreign citizens of Indian Origin are treated on par with non-resident Indian citizens.

Who can purchase immovable property in India?

Under the general permission available, the following categories can freely purchase immovable property in India:
i) Non-Resident Indian (NRI)- that is a citizen of India resident outside India
ii) Person of Indian Origin (PIO)- that is an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan), who
1. at any time, held Indian passport, or
2. who or either of whose father or grandfather was a citizen of India  by   virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955).

The general permission, however, covers only purchase  of residential  and commercial property and not for purchase of   agricultural land /  plantation property / farm house in India.

Do non-resident Indian citizens require permission of Reserve Bank to acquire residential/commercial property in India?

No.

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