Can NRI get loan to buy commercial property in India?

Yes, Indian banks do provide loans to NRIs for buying commercial property in India. The Reserve Bank of India (RBI) has permitted all the banks and Non-Banking Finance Companies (NBFCs) to provide such loans to NRI applicants.

Can I get loan to buy commercial property in India?

Those availing a loan for commercial properties get lesser Loan to Value (LTV) ratio than the ones availing housing loans. For residential purposes the funding usually ranges between 75-90\%, but in case of commercial properties it is limited to about 55\%.

Can NRI invest in property in India?

In addition to the purchase of property, an NRI is also allowed to acquire any residential or commercial property by way of gift from any of his NRI, OCI or a resident relative. Though an NRI is not allowed to buy agricultural land etc. in India, he is allowed to inherit the same from any person resident in India.

What is the maximum loan tenure for commercial property?

Loan tenure- The maximum loan tenure for commercial properties is usually restricted to 10 years while the loan tenure offered for residential properties can go up to 25-30 years.

Can a salaried person buy commercial property?

Eligibility – Commercial Property for Salaried. In case your property has more than one owner, it is necessary that both or all the co-owners are co-applicants. This ensures that your property is secure and both owners can benefit from the investment in the property.

Are NRIs eligible for Pradhan Mantri Awas Yojana?

Are NRIs eligible for PMAY? An NRI is eligible for PMAY if his/her annual family income is below Rs. 18 lakhs. The direct family member should not have availed for the PMAY scheme already and should not be the owner of a house anywhere in India.

What is the maximum tenure for NRI home loan?

Loan Tenure: up to 30 years.