Own Your Dream Homein India from Abroad

Yes, NRIs can buy residential and commercial properties in India except agricultural land, farmhouses, and plantation properties. The property purchase must comply with FEMA regulations. You can buy property in any city or state, including metro cities like Mumbai, Delhi, Bangalore, and tier-2 cities.

NRE loans are funded from NRE accounts using foreign income, while NRO loans use income generated in India. NRE loans offer better repatriation benefits - you can freely transfer the principal and interest abroad. NRO loans have restrictions on repatriation and are suitable if you have rental income or other earnings in India.

With MoneyKarma's digital process, you get in-principle approval within 48 hours. The complete loan disbursement typically takes 7-10 working days after all documents are submitted and property verification is complete. This is significantly faster than traditional bank processes that can take 15-30 days.

Yes, recent NRIs can apply for home loans. Most banks require a minimum of 6 months of overseas employment. You'll need to provide your employment contract, work visa, and proof of income from your overseas job. Some banks may have specific requirements based on your destination country.

NRIs can get home loans up to ₹5 crores, subject to income eligibility. The loan-to-value (LTV) ratio is typically 80% of the property value. This means for a property worth ₹1 crore, you can get a loan of up to ₹80 lakhs. The exact amount depends on your income, credit history, and the bank's policies.

No, you don't need to visit India. The entire process can be completed online through our digital platform. You can give Power of Attorney to a trusted person in India for property registration. We also provide doorstep service in India for document collection and verification.

NRIs can claim tax deductions under Section 80C (up to ₹1.5 lakhs on principal repayment) and Section 24 (up to ₹2 lakhs on interest payment) of the Income Tax Act. If the property is rented out, the entire interest amount can be claimed as a deduction. These benefits apply if you file tax returns in India.

Yes, you can have co-applicants who are resident Indians. Typically, spouse, parents, or siblings can be co-applicants. Having a co-applicant who is an earning member can increase your loan eligibility. Some banks mandate having at least one co-applicant who is a resident Indian.