An NRI is any citizen of India who is not residing in India and has resided in India for less than 182 days in the preceding financial year.
While presenting documents for purchasing property in India, NRIs fall under two categories:
To get a home loan, NRI must furnish all the documents:
- PIO card if you hold a foreign passport
- OCI card if your parents are citizens of India
NRIs need to appoint a power of attorney who can act on their behalf.
In real estate, a POA can: