For NRI investors, the journey of deciding on an investment property located miles away can be quite challenging. That’s why we have set up exclusive conveniences and privileges for our NRI investors to make the process a lot easier. Invest today by availing our select NRI benefits.
A citizen of India who stays abroad for employment or for carrying out any business for an uncertain period of time is considered as a non-resident. People who are posted in U.N. organizations and officials deputed abroad by Central/State Governments and Public Sector undertakings on temporary assignments are also considered as non-residents. Non-resident foreign citizens of Indian Origin are treated on par with NRI's and are offered the same facilities.
The definition of ‘Person of Indian Origin’ is defined under section 2 (b) of Foreign Exchange Management (borrowing and lending in rupees) Regulations, 2000 and under section 2 (xii) of Foreign Exchange Management (Deposit) Regulations, 2000 as given under:- “Person of Indian Origin’ means a citizen of any country other than Bangladesh or Pakistan, if He at any time held an Indian passport; or He or either of his parents or any of his grandparents was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955); or The person is a spouse of an Indian citizen or a person referred to in sub-clause (a) or (b)” Person of Indian Origin (PIO) for the purpose of acquiring immovable property in India as given under:- “Person of Indian origin’ means an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan), who At any time, held an Indian passport; or Who or either of whose father or mother or whose grandfather or grandmother was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955)”
OCB (Overseas Corporate Bodies) are the bodies that are mainly owned by the individuals of Indian nationality or origin resident outside India. OCB includes all the overseas companies, trusts, partnership firms, societies and corporate bodies which are indirectly or directly owed by at least 60% of individuals of Indian nationality or origin resident outside India. However, the ownership interest should be actually held by them and not by the nominees.
Various facilities offered to the NRI's are as follows:
NRI's are not required to take any permission of RBI while acquiring any residential and commercial property in India
Reserve Bank of India has given permission to the foreign citizens of Indian origin to purchase immovable property in India for their residential use. Hence, they do not need to acquire any permission.
While purchasing a residential immovable property in India, the foreign citizens of Indian origin are required to file a declaration in form IPI 7 with Central Office of Reserve Bank at Mumbai within 90 days from the date of purchase of that immovable property. They can also submit a final payment of purchase consideration along with a certified copy of document which is an evidence of transaction and the bank certificate of the consideration paid.
Reserve Bank of India has given permission to foreign citizens of Indian origin to sale a property. However, wherever the property is purchased by them, the funds towards the purchase consideration should be either remitted to India or the paid out of balances in NRE/FCNR accounts.
Reserve Bank of India has given permission to foreign citizens of Indian origin to acquire or dispose of a residential property by way of gift from or to any relative who is a citizen of India or a person of Indian origin (in case he is not the citizen of India) subject to compliance with applicable tax laws.
Reserve Bank of India has given permission to foreign citizens to acquire commercial properties in India other than agricultural land/farmhouse/ plantation property.
Reserve Bank of India has given permission to rent out any immovable residential/commercial property in India. However, the rental income or proceeds of any investment of such income are eligible for repatriation.
Reserve Bank of India has given permission to the Indian companies or firms to grant housing loans to the NRI's. However, there are certain terms and conditions that are needed to be met.
According to the Maharashtra Stamp Act, 1958, stamp duty shall be paid vide impressed stamps or adhesive stamps. Hence the stamp duty on any instrument (including an electronic document) may be paid via adhesive stamps, non-judicial stamp paper, franking machines, labels being affixed and impressed by proper officer or receipt of e-payment of the stamp duty.
In Maharashtra, the Maharashtra Stamp Act, 1958 is applicable to all the documents executed or brought in the state for the purpose of chargeability of the stamp duties. All the instruments chargeable with duty and executed by any person in this state are required to be stamped before or at the time of execution or immediately thereafter or on the next working day following the day of execution.
It is compulsory to pay the stamp duty within three months from the date of receipt in India. You will be required to produce the document before the District Registrar and he will certify the payment.
Note the document on a plain paper or a Rs.2. Document Sheet. You can pay the stamp duty at any authorized bank or at the jurisdictional Sub-Registrar Office.
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© Copyright 2024, Runwal Group. All Rights Reserved.
The plans, specifications, images and other details herein are only indicative and subject to approval of the concerned authorities. The Group / Owner reserves the right to change any or all of these in the interest of the development, without prior notice or obligation. Artist’s impressions are used to illustrate amenities, specifications, images and other details and these may be applicable to select apartments only. Tolerance of +/- 3% is possible in the unit areas on account of design and construction variances. All brands stated are subject to final decision of the project architect. This printed material does not constitute an offer and/or contract of any type between the Group / Owner and the recipient. No booking or allotment shall be deemed to have been made on the basis of this printed material. Any Purchaser / Lessee of this development shall be governed by the terms and conditions of the agreement for sale / lease entered into between the parties, and no details mentioned in this printed material shall in any way govern such transactions unless as may be otherwise expressly provided in the agreement for sale/lease by the Group / Owner. The Group / Owner does not warrant or assume any liability or responsibility for the accuracy or completeness of any information contained herein.
Runwal Avenue
The project has been registered via MahaRERA registration no.: Runwal Avenue: Wing I: P51800048234 , Wing-J: P51800026860, Wing-K: P51800028811, Wing-L: P51800031895, Wing-M: P51800033514, Wing-N: P51800047714. Available on website https://maharera.mahaonline.gov.in under registered projects.
Disclaimer: Project Runwal Avenue Towers I to N are financed by HDFC Ltd. The property has been mortgaged in favour of HDFC Ltd. and the buyer will be required to obtain a no-objection certificate prior to entering into Agreement for the sale of any unit in the project. This material does not constitute an offer and/or contract of any type between the owner/developer and the recipient. Any purchaser/lessee of this development shall be governed by the terms and conditions of the agreement for sale/lease to be entered into between the parties and no details mentioned in this printed material shall in any way govern such transactions. The Allottee must refer to the agreement for sale for actual details.
Runwal Bliss
The project has been registered via MahaRERA registration no.: Wing A: P51800001670, Wing B: P51800005684, Wing C: P51800001903, Wing D: P51800001296, Wing E: P51800001477, Wing F: P51800032824, Wing G: P51800035134, Wing H: P51800050459. Available at website: http://maharera.mahaonline.gov.in under registered projects.
DISCLAIMER: Project Runwal Bliss Towers A to H are financed by HDFC Ltd. The property has been mortgaged in favour of HDFC Ltd. and the buyer will be required to obtain a no-objection certificate prior to entering into any agreement for the same of any in the project. This printed material does not constitute an offer and/or contract of any type between the owner/developer and the recipient. Images, specifications & details mentioned herein are indicative and subject to change. Any purchase/lessee of this development shall be governed by the terms and conditions of the agreement for sale/lease to be entered into between the parties and no details mentioned in this printed material shall in any way govern such transactions. The Allottee must refer to the agreement for sale for actual details.
Runwal Forests
The project has been registered via MahaRERA registration no: T1-T4: P51800000818, T5-T8:
P51800001838, T9-T11: P51800001137. Available on website: http://maharera.mahaonline.gov.in
under registered projects.
Disclaimer: Images shown herein are for representational purpose only. Runwal Forests is
financed by and mortgaged to HDFC Ltd. and NOC / permission of HDFC Ltd. will be required prior
to entering into Agreement of Sale of any Flat in the project.
Information on this website does not constitute an offer and/or contract of any type between the
owner/developer and the recipient. Any purchaser/lessee of this development shall be governed by
the terms and conditions of the agreement for sale/lease to be entered into between the parties
and no details mentioned on this website shall in any way govern such transactions. The Allottee
must refer to the agreement for sale for actual details.
Runwal Pinnacle
The project has been registered via MahaRERA registration no.: P51800021322. Available on
https://maharera.mahaonline.gov.in under registered projects.
Disclaimer: Runwal Pinnacle project financed by IndusInd Bank Ltd. The property has been
mortgaged in favour of IDBI Trusteeship Services Ltd. and the buyer will be required to obtain a
no-objection certificate prior to entering into any agreement for the sale of any unit in the
project.
The images and other details herein are only indicative and the developer/owner reserves the
right to change any or all of these in the interest of the development as per applicable rules &
regulations. Any purchaser/ lessee of this development shall be governed by the terms and
conditions of the agreement for sale/ lease to be entered into between the parties.
Runwal Gardens
RERA - The project “Runwal Gardens” is being developed in a phase-wise manner and the various phases have been registered with MahaRERA bearing registration numbers as follows: Runwal Gardens Phase 1 - P51700022699, Runwal Gardens Phase 2 Bldg no 13-17 - P51700025677, Runwal Gardens Phase 2 Bldg no 18-23 - P51700024154, Runwal Gardens Phase 3 Bldg no 24-26 - P51700026228, Runwal Gardens Phase 3 Bldg no 27-28 - P51700026927, Runwal Gardens Phase 3 Bldg no 29-30 - P51700028344, Runwal Gardens Phase 4 Bldg no. 31-32 - P51700029155, Runwal Gardens Phase 4 Bldg no. 33-34 - P51700030533, Runwal Gardens Phase 4 Bldg no. 35-36 - P51700031319, Runwal Gardens Phase 4 Bldg No. 37 - P51700033206, Runwal Gardens Phase 4 Bldg No. 38 - P51700046550, Runwal Gardens Phase 5 Bldg no. 39-42 - P51700031609, Runwal Gardens Phase 6A Bldg No.53-54 - P51700051346, Runwal Gardens Phase 8 Bldg No.44 - P51700047512 and the details pertaining to the project are available on the website https://maharera.mahaonline.gov.in under registered projects.
Disclaimer - The images and other details shown in the ad herein are only indicative and the developer/owner reserves the right to change any or all of these in the interest of the development as per applicable rules & regulations. Induslnd Bank is providing project finance for the development of the project “Runwal Gardens”.No-objection certificate of IndusInd Bank Ltd. will be required to be obtained prior to entering into any agreement for the sale of any unit in Phase I, Phase II, Phase III, Phase IV, Phase V, Phase VI, Phase VIII and Shopping Arcade. Further, Runwal Gardens is a brand name for the larger project and the information given herein also pertains to the larger project. We will be registering separate real estate projects, from time to time. Any purchaser/lessee of this development shall be governed by the terms and conditions of the agreement for sale/lease to be entered into between the parties.
Runwal Commerz
Project Runwal Commerz - Tower 1 is financed by HDFC Ltd. The property has been mortgaged in favour of HDFC Ltd. and the buyer will be required to obtain a no-objection certificate prior to entering into Agreement for the sale of any unit in the project. Runwal City Centre is the brand name for an entire land parcel of approximately 36 acres in Kanjurmarg East. The layout comprises of projects - Runwal Bliss, Runwal Avenue, Runwal Commerz and all future development on this land parcel. Any transactions entered into in this layout shall be with the respective SPV of the given project and as per its respective RERA registration. This print/audio/video material does not constitute an offer and/or contract of any type between the owner/developer and the recipient. Images, specifications & details mentioned herein are indicative and subject to change. Any purchase/lease/leave & license at this development shall be governed by the terms and conditions of the agreement for sale/lease/leave & license to be entered into between the parties and no details mentioned in this printed material shall in any way govern such transactions. The allottee/purchaser/lessee/licensee must refer to the agreement for sale/lease deed/leave & license agreement for actual details.
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