Overview
How to Buy
FEMA Rules
Taxation
Currency Calc
NRI FAQ
✓ NRIs CAN invest in Mohali Aerotropolis. GMADA LOIs and developed plots are eligible for NRI purchase under FEMA. Payment through NRE/NRO accounts. Repatriation permitted subject to RBI rules.
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Australia
~220K Punjabis
🇸🇬
Singapore
~40K Punjabis
Why Aerotropolis for NRIs?
✈️ <3km from Chandigarh airport — easy to visit
🏛️ GMADA = Government developer — lower default risk
📄 Transferable LOI — can sell without waiting for possession
💰 20% annual appreciation — strong historical returns
🌐 FEMA compliant — legal, transparent, repatriable
Recommended pockets for NRIs
Pocket A — Prestige, embassy zone, NRI favourite. ₹52,000/sqyd. Higher entry, higher ceiling.
Pocket B — Best risk-adjusted for NRIs. ₹41,500/sqyd. Clean title, active roads.
nri enquiry trend — mohali aerotropolis
Key point: As an NRI, you cannot be physically present for every step. A registered Power of Attorney (POA) in India handles registration on your behalf.
1
Identify the plot
Search listings on mohaliaerotropolis.com/listings. Shortlist by pocket, size, and budget. Verify the LOI number with GMADA.
📋 Needed: LOI copy, GMADA verification
2
Appoint a POA in India
Register a Power of Attorney with a trusted person in India (family/lawyer). Must be registered at Sub-Registrar office. Notarize abroad and apostille if signing outside India.
📋 Documents: Passport copy, visa, address proof, photos — attested by Indian Embassy
3
Get an NRE/NRO account
Open an NRE (Non-Resident External) or NRO (Non-Resident Ordinary) account with any Indian bank. Fund it via international wire transfer.
📋 NRE preferred — funds and interest fully repatriable
4
Transfer funds to India
Wire the purchase amount + 8-10% extra for stamp duty, fees, legal costs. Keep FIRC (Foreign Inward Remittance Certificate) — needed for repatriation later.
📋 Keep all FIRC documents safely
5
Execute the sale deed
Your POA signs the sale agreement and gets it registered at Sub-Registrar office in Mohali. Pay stamp duty (6-7% of sale value).
📋 Registration done at Sub-Registrar, SAS Nagar
6
Apply for GMADA transfer
POA submits transfer application to GMADA with all documents. Processing: 30-60 days. New LOI issued in your name.
📋 GMADA Transfer fee: ~₹10,000
7
Await possession
GMADA develops the pocket. You receive a possession letter when the plot is ready. Target: 2027-28 for active pockets.
📋 You do not need to be in India for this step
FEMA (Foreign Exchange Management Act) allows NRIs to buy residential and commercial real estate in India — including GMADA plots and LOIs — with no limit on the number of properties.
⚠ NRIs CANNOT buy: Agricultural land · Plantation property · Farmhouse (without RBI special permission). LOIs and developed plots in Aerotropolis are permitted.
NRE Account
✓ Can buy with NRE funds
✓ Both principal AND interest repatriable
✓ Interest tax-free in India
✓ Best for LOI purchase if funds from abroad
Open at: SBI, HDFC, ICICI, Axis — any major Indian bank
NRO Account
✓ Can buy with NRO funds
⚠ Repatriation capped at USD 1 million/year
✓ Use for income earned in India (rent, etc.)
Note: Keep FIRC (remittance certificate) for every wire transfer — required to prove funds came from abroad for repatriation.
power of attorney for nri purchases
If you are outside India:
1. Draft the POA with a lawyer in India
2. Sign before Indian Embassy or Notary in your country
3. Get it apostilled (countries under Hague Convention) or attested by Indian Embassy
4. Send original to India — register at Sub-Registrar office
Who can be POA: Family member, trusted friend, or registered property lawyer. The POA can sign all documents on your behalf.
joint purchase with resident indian
NRI can purchase jointly with a resident Indian. The resident Indian can be the first or second holder. This simplifies the buying process — the resident Indian handles paperwork without needing POA.
| Tax type | Rate | Condition | Notes |
|---|
| Stamp duty (buying) | 6-7% | On purchase | 6% women, 7% men, of sale value |
| Registration fee | 1% | On purchase | Of sale value, paid at Sub-Registrar |
| LTCG (Long-term CG) | 12.5% | Held ≥ 2 years | Without indexation (new rule 2024) |
| STCG (Short-term CG) | Slab rate | Held < 2 years | Added to income, taxed at your slab |
| TDS on purchase | 1% | If seller is resident | Buyer deducts, deposits with IT dept |
| TDS (NRI seller) | 20-30% | If seller is NRI | Apply for lower deduction certificate |
| Wealth tax | Abolished | — | No wealth tax in India since 2016 |
| Rental income tax | 30% TDS | If property rented | 30% TDS, NRI files return to claim refund |
DTAA benefit
India has Double Taxation Avoidance Agreements with Canada, UK, UAE, USA, Australia and 90+ countries.
This means you won't be taxed twice on the same income. The capital gain is taxed in India — you get a credit for this in your home country.
Repatriation
Sale proceeds can be repatriated abroad:
✓ Up to USD 1 million per year (NRO account)
✓ Unlimited (if originally paid from NRE account)
Required: CA certificate (Form 15CA/15CB), FIRC, sale deed, tax payment proof.
Currency → INR Converter
Live rates approximate — verify with your bank before transfer
What can I buy with my budget?
Can I buy an Aerotropolis LOI from Canada/UK without coming to India?
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Yes. You need a registered Power of Attorney in India. You sign the POA in Canada/UK before a Notary, get it apostilled, and send the original to India. Your POA handles registration, GMADA transfer, and all paperwork.
Can I use my NRI bank account to pay for the plot?
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Yes. Pay from NRE or NRO account. Keep the FIRC (Foreign Inward Remittance Certificate) for every transfer — needed for repatriation later. Never pay in cash.
My wife is an Indian citizen and I am an NRI — can she buy?
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Yes. Indian citizens can buy freely. She can also buy jointly with you. In fact this may simplify the process as no POA is needed for her portion.
Is it safe to invest in a GMADA property from abroad?
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GMADA is a Punjab government body, making their schemes safer than private developers. LOIs are legal documents. Risk: possession timeline delays and the specific court case on Pocket A (927 acres). Do proper due diligence on the specific plot.
What happens if I sell the LOI before possession?
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You can transfer (sell) the LOI any time. The process is the same as buying — both parties execute a sale deed, pay stamp duty (6-7%), and apply to GMADA for name transfer. Capital gains tax applies.
Can I get a home loan from India to buy the LOI?
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Most Indian banks do not finance LOIs — they require a registered sale deed and possession. You can get financing once the plot is developed and demarcated. For now, LOI purchase is typically self-funded.
Will I need to come to India at any point?
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Not necessarily if you have a registered POA. However, visiting once is recommended to see the site, meet GMADA, and verify documents in person. The airport is directly adjacent to Aerotropolis.
How do I bring the profit back to my country?
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Once you sell, instruct your bank to remit the sale proceeds. You need: CA certificate (15CA/15CB), FIRC, TDS challan, sale deed. Repatriation from NRE accounts is unlimited. From NRO: up to USD 1 million/year.