Buying property in Mumbai: the rules for NRI and foreign buyers

Who can buy

The RBI’s FAQ, under the Foreign Exchange Management Act and the Non-Debt Instrument Rules, 2019, says NRIs and OCIs may buy immovable property in India other than agricultural land, farmhouses and plantations. They may also receive such property as a gift from a relative who is a resident, NRI or OCI, and may inherit property.

A foreign spouse who is neither an NRI nor an OCI may buy one non-agricultural property jointly with their NRI or OCI spouse. Foreign nationals of non-Indian origin who live outside India generally cannot buy, except by inheritance or on a lease of up to five years. Citizens of certain neighbouring countries need the RBI’s prior permission: see the RBI FAQ for the list.

How to pay

Payment must come through Indian banking channels: an inward remittance, or funds from NRE, FCNR(B) or NRO accounts (RBI). Ask your bank about the paperwork before you commit.

Checking a project on MahaRERA

For new-build and off-plan homes, search the project on maharera.maharashtra.gov.in. MahaRERA’s guidance for home buyers says the agreement should match the registered details, including the CTS number, carpet area and possession date.

Stamp duty and registration

Stamp duty and registration fees are set by Maharashtra’s Department of Registration and Stamps (igrmaharashtra.gov.in). Rates and concessions change, so we don’t quote them: confirm the current figures with the department and your lawyer.

Where people live

See our property guide for South Mumbai, Worli and Lower Parel, Bandra and Juhu, and Alibag, and the brokerages with Mumbai offices. We don’t publish prices.

Questions and answers