NRI Guide: Buying Property in Kochi under FEMA / RBI Rules
A plain-English walkthrough of FEMA, repatriation limits, POA, and how NRIs actually close a purchase in Kochi.
As an NRI, you can buy any residential or commercial property in India — except agricultural land, plantations and farmhouses — without RBI permission. Payments must route through NRE/NRO/FCNR accounts or normal banking channels. Repatriation is capped at USD 1 million per financial year from sale proceeds of up to two residential properties, subject to TDS.
Most NRI buyers use a Special Power of Attorney (SPA) in favour of a trusted relative or the developer's legal desk to sign the sale deed. Ensure the SPA is executed at the Indian consulate or apostilled locally and then adjudicated in India.
At Purva City Kochi we offer end-to-end NRI concierge — video site visits, digital booking, POA drafting assistance, home-loan tie-ups with HDFC / ICICI / SBI, and dedicated repatriation handholding at exit.