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NRI guide to buying Gaur Plume on the Yamuna Expressway: FEMA, payment and remote process explained

By Vidit Kaushik, Vidastu Advisory · UP-RERA Agent UPRERAAGT000309/01/2026 · Published 15 June 2026

This guide is for general information only and does not constitute legal, tax or investment advice. FEMA, Income Tax and RBI regulations change; always consult a qualified CA and property lawyer for your specific situation.

FEMA eligibility: who can buy, who cannot

Under FEMA (Foreign Exchange Management Act, 1999) and the RBI's master circular on acquisition and transfer of immovable property in India, NRIs and PIOs can acquire residential and commercial property in India without RBI approval, subject to payment through normal banking channels (NRE/NRO accounts or foreign currency remittance).

Who qualifies as an NRI for property purchase?

• Indian citizens residing outside India for more than 182 days in the preceding financial year for employment, business or vocational purposes
• PIOs — persons (and their spouses) who hold or have held an Indian passport at any time, or whose parents/grandparents were Indian citizens
• OCI (Overseas Citizens of India) cardholders — OCI holders have the same rights as PIOs for property purchase

Who needs prior RBI permission?

Citizens of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal and Bhutan need prior permission from the Reserve Bank of India to purchase any immovable property in India. If you hold any of these citizenships, consult an RBI-qualified lawyer before proceeding.

What types of property can NRIs buy?

NRIs can buy residential and commercial property without restriction on numbers. They cannot buy agricultural land, plantation property or farmhouses without prior RBI permission. Gaur Plume is a residential apartment project — this restriction does not apply.

Payment routes: NRE vs NRO

All payments for property purchase by an NRI must flow through regulated banking channels. Cash transactions are prohibited under FEMA. The two main routes are:

NRE (Non-Resident External) Account

• Funded by remittances from abroad in foreign currency
• Fully repatriable — both principal and interest can be freely remitted outside India
• Interest income is exempt from Indian income tax (currently)
• Best for: buyers funding the purchase entirely from overseas income

NRO (Non-Resident Ordinary) Account

• Funded by income earned in India (rent, dividends, pension, etc.) or by converting rupees earned in India
• Repatriation of principal limited to USD 1 million per financial year (subject to FEMA rules and tax clearance)
• Interest income is taxable in India
• Best for: buyers using India-sourced funds or a mix of foreign and India-sourced funds

Home loan for NRIs

Most Indian banks and HFCs (SBI, HDFC, ICICI, Axis, LIC Housing Finance, etc.) offer NRI home loans for under-construction residential properties. Typical loan-to-value for NRIs is 75–80% of the agreement value. The EMI is paid from your NRE/NRO account. Eligibility depends on employment type, income, country of residence and the lender's specific NRI criteria. Approval processes typically require additional KYC versus resident borrowers. Start the pre-approval process early in parallel with the EOI registration.

TDS: what NRI buyers and sellers need to know

There is no TDS deducted when an NRI buys residential property in India from a developer at the pre-launch or booking stage. The relevant TDS provisions kick in when:

• An NRI sells property to a resident Indian buyer — the buyer must deduct TDS at 20% (Long-Term Capital Gains, if held 2+ years) or 30% (Short-Term Capital Gains), plus applicable surcharge and cess, on the total sale price (not just the gain)
• Rental income earned by an NRI from Indian property — the tenant must deduct TDS at 30% on rent paid

For GST: buyers of under-construction residential property pay GST at 5% on the consideration paid to the developer. This applies to NRI buyers equally. It is typically included in the developer's cost sheet. Always confirm this in the Agreement for Sale.

Tax rules change. Consult a qualified CA before any transaction.

Power of Attorney (PoA): buying remotely

Most NRI buyers of Gaur Plume will manage the process remotely. The legal tool that enables this is a registered Power of Attorney (PoA). A PoA authorises a named person in India to act on your behalf for specified purposes — including signing the Agreement for Sale, appearing for property registration and collecting possession.

How to execute a PoA as an NRI

• Option 1 — Indian consulate/embassy: Visit the Indian consulate or High Commission in your country of residence and execute the PoA before a consular officer. This is the most common route. The consulate attests the document, which is then apostilled and sent to India.
• Option 2 — Notary in your country: Some countries allow a notary to attest a PoA, which is then apostilled under the Hague Convention. Check whether India accepts apostilled documents from your country of residence.
• After receiving the PoA in India: Your representative gets it adjudicated (stamp duty paid) and registered at the local sub-registrar's office to make it legally effective for property transactions.

Scope of the PoA

A real-estate PoA for Gaur Plume should specifically authorise your representative to: sign the Agreement for Sale; make payments on your behalf; sign correspondence with the developer; appear at the sub-registrar for conveyance deed registration; and receive possession. A lawyer should draft it — general PoAs are sometimes not accepted at registration.

The step-by-step remote buying process

1. Register interest: Contact Vidit Kaushik at +91 79829 45260 / WhatsApp to register interest and receive the pre-launch price list and floor plans.
2. KYC and documentation: Provide KYC documents — passport copy, overseas address proof, PAN card (or Form 60 if not available), NRE/NRO account details.
3. Await RERA registration: RERA registration of the project is being obtained. No payment or booking is accepted until the project is RERA-registered.
4. Agreement for Sale: Once RERA is obtained, the AFS is signed — either by you in India or by your PoA holder on your behalf. You will receive the AFS draft for review in advance.
5. Construction-linked payments: Payments are made from your NRE/NRO account as construction milestones are reached. Your bank transfers directly to the developer's escrow account (per RERA mandate).
6. Possession: On completion and OC/CC issuance, your PoA holder can receive possession on your behalf and complete the handover process.

Repatriation: getting your money back

When you eventually sell the property, the net sale proceeds (after capital gains tax) can be repatriated from an NRO account subject to: TDS deduction by the buyer, CA certificate in Form 15CA/15CB confirming tax compliance, and the USD 1 million annual repatriation limit from NRO accounts. If the original purchase was funded from an NRE account (fully repatriable funds), the sale proceeds may have a more straightforward repatriation path — confirm with your CA and bank at the time of sale.

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Frequently asked questions

Call/WhatsApp Vidit Kaushik: +91 79829 45260 · wa.me/917982945260