NRI Guides
NRI Guide to Buying Property in GIFT City
Organise the legal, banking and on-ground work before reserving a residence, and use current professional advice for rules that depend on your status.
Shivalik Presente publishes these guides to support clearer, unit-specific decisions in GIFT City.
Confirm eligibility and ownership structure first
RBI guidance says NRIs and OCIs can generally purchase residential or commercial immovable property in India, while agricultural land, farmhouses and plantation property are treated differently. Citizenship, residency, co-ownership and funding facts matter, so obtain current legal and tax advice for your case.
Verify the project and the exact unit
Check the project registration and current disclosures on Gujarat RERA. Request the exact tower, floor, residence number, sanctioned plan, area statement, specifications, parking, payment schedule, approvals, draft agreement and expected completion information. Appoint an independent property lawyer rather than relying only on sales material.
Keep payments inside permitted banking routes
RBI guidance requires property payments to move through banking channels and allows eligible funds in NRE, FCNR(B) or NRO accounts, subject to applicable rules. Keep a clean file of remittance advice, account statements, invoices, tax deductions and receipts.
Treat the home loan as a separate diligence track
Ask banks for current NRI eligibility, loan-to-value, income-document requirements, power-of-attorney process, rate reset terms, prepayment rules and permitted repayment accounts. Compare the sanction against the developer payment schedule before committing.
Plan repatriation before the eventual sale
Repatriation depends on how the property was acquired, the source of funds, taxes, documentary evidence and limits or conditions applicable at the time. Preserve the purchase agreement and full payment trail, and take advice from an authorised dealer bank and tax professional before any future remittance.
Build an on-ground handover team
Arrange a trusted representative or appropriately drafted power of attorney, independent snagging, registration support, insurance, furnishing, utility setup and ongoing property management. Remote ownership works best when responsibilities and document custody are explicit.