NRI investment in real estate

The government has liberalised investment norms for NRIs to invest in real estate in India. At the same time ther is a nedd of adhering to ground realities before plunging into investment. some of the important information includes there are no restrictions on the number of residential or commercial properties that can be purchased under the general permission. A foriegn natioanl of indian origin residing outside india cannot purchase any immovable property in india. But, he may take residential accomodation on lease provided the period of lease does not exceed five years. In such cases, there is no requirment of taking any permission of reporting of or repoting to the reserve bank. And a foriegn national who is a person residing in india can purchase immovable property in india.