The acquisition of Indian real estate by individuals who are not citizens of India is subject to specific regulations and restrictions. Generally, non-citizens resident in India are permitted to purchase immovable property, excluding agricultural land, farmhouses, and plantation properties. A person of Indian origin (PIO) or an Overseas Citizen of India (OCI) cardholder enjoys similar rights as resident non-citizens. Foreign nationals of non-Indian origin residing outside India are generally prohibited from directly acquiring immovable property unless it is through inheritance or as a gift.
Enabling foreign nationals to invest in property can stimulate economic growth by attracting foreign capital and boosting the real estate sector. Clear regulations surrounding these transactions provide a framework for secure investment and contribute to a more stable and transparent property market. Historically, restrictions on foreign property ownership stemmed from concerns over national security and land speculation. Evolving economic policies have led to more liberalized approaches, recognizing the potential benefits of foreign investment.
