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Author Topic: Can residential or commercial property be mortgaged by NRI?  (Read 3258 times)

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Offline advkartik

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Can residential or commercial property be mortgaged by NRI?
« on: March 02, 2012, 09:08:05 PM »
Yes NRI / PIO can mortgage a residential / commercial property.

They can mortgage their immovable property to the following only:
(a) an Authorised Dealer / the housing finance institution in India without the approval of Reserve Bank

(b) a bank abroad, with the prior approval of the Reserve Bank.

ii) A foreign national of non-Indian origin can mortgage a residential / commercial property only with prior approval of the Reserve Bank.

iii) A foreign company which has established a Branch Office or other place of business in accordance with FERA/FEMA regulations has general permission to mortgage the property with an Authorised Dealer in India.

Offline MarguriteSiacca

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Re: Can residential or commercial property be mortgaged by NRI?
« Reply #1 on: June 17, 2014, 07:36:48 PM »
Even the residential can be mortgage just like the commercial property. If you caught yourself in a very hard situation paying off your debt, lessen now your worry because some Californian business pushing their ideas of refinancing through the local governments eminent domain. This idea would “condemn” the underwater home loans and drive a refinance. Get a cash advance to help pay your bill this month.


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