NRI Property Investment in Kolkata

NRIs need the following documents: (1) Valid Indian passport or OCI card, (2) PAN card (Permanent Account Number), (3) NRE or NRO bank account statement showing fund availability, (4) Passport-size photographs, (5) Proof of overseas address (utility bill, employment letter, or bank statement), (6) Power of Attorney (if purchasing through a representative in India). Your banker or channel partner can help you compile these before the booking.

Yes. SBI, HDFC, ICICI, Axis Bank, and most major lenders offer home loans to NRIs. The interest rate is typically 0.25% to 0.50% higher than resident Indian rates. Maximum LTV (loan-to-value) is 75-80%. The loan must be repaid through NRE/NRO account credits or inward remittances. The loan tenure is usually 10-30 years, subject to your age at maturity (typically max 60-65 years). Use our Loan Eligibility Calculator to check your maximum loan amount.

NRIs face these tax obligations: (1) TDS at 1% when the property value is Rs.50 lakh or more, under Section 194-IA (deducted at source by the buyer from the payment to the developer), (2) Stamp duty and registration (6-7% in West Bengal, same as residents), (3) Capital gains tax on sale - short-term (held under 2 years, taxed at income slab rate) or long-term (held over 2 years, taxed at 12.5% without indexation for sales on or after 23 July 2024; the buyer deducts this as TDS under Section 195), (4) Form 15CA/15CB required for repatriating sale proceeds. Consult a CA who handles NRI taxation.

NRIs can repatriate up to USD 1 million per financial year from the sale of property (originally purchased from foreign funds or NRE account). Documentation required: (1) Form 15CA (self-declaration from the seller), (2) Form 15CB (certificate from a Chartered Accountant), (3) Sale deed copy, (4) Proof of original purchase (to establish capital gains), (5) Bank account closure documents. The process takes 2-4 weeks through your NRE/NRO bank. Your bank handles the filing with the RBI.

No. NRIs can complete the entire purchase process without visiting India by granting a Specific Power of Attorney (POA) to a trusted representative in India (family member, lawyer, or channel partner like Vision Realtors). The POA must be notarized at the Indian Embassy in your country of residence and then adjudicated in India within 3 months. Vision Realtors offers video site visits and remote documentation assistance for NRI buyers who cannot travel.

Yes. NRIs and OCIs can buy commercial property (office space, retail shops, warehouses) with the same rights as residential property under FEMA. No RBI approval is required. Commercial property in Kolkata (especially Sector V, Salt Lake, and New Town IT corridors) offers rental yields of 5-7%, which are higher than residential yields (3-5%). Use our Commercial Property Yield Calculator to evaluate commercial ROI.

A Power of Attorney (POA) is a legal document that authorizes a representative in India to act on your behalf for the property purchase. For NRI buyers, a Specific POA (limited to one property transaction) is recommended over a General POA. The POA must be: (1) Drafted on stamp paper, (2) Notarized at the Indian Embassy/Consulate in your country, (3) Adjudicated by the Sub-Registrar in India within 3 months of issue. The POA authorizes your representative to sign documents, make payments, and register the property in your name.

For NRI investment, the top Kolkata localities are: (1) New Town - Rs.8,343/sqft avg, IT corridor, metro connectivity, 3.5-4.5% rental yield, (2) Rajarhat - Rs.7,500/sqft avg, fastest appreciation (10-15% YoY), IT corridor, 4-5% yield, (3) EM Bypass - Rs.9,200/sqft avg, premium riverside addresses, 3-3.5% yield, (4) Salt Lake Sector V - Rs.12,000/sqft avg, commercial IT hub, 5-7% commercial yield. New Town and Rajarhat offer the best combination of appreciation and rental demand for NRI investors.

RealtyIQ provides these NRI-specific services: (1) Video site visits - our team conducts live video walkthroughs of projects so you can evaluate from abroad, (2) RERA-verified project data - every project we list has a verified WBRERA registration number, (3) 22 free calculators including NRI Cost Calculator (stamp duty, TDS, FEMA compliance), (4) Loan Eligibility Calculator for NRI home loans, (5) Documentation assistance - we help you compile and verify all documents, (6) Power of Attorney drafting support, (7) Connect you with CAs who handle NRI taxation and repatriation. We are a WBRERA Registered Channel Partner (WBRERA/RA/NOR/2026/000189) and operate under formal agreements with all major Kolkata developers.