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NRI Guide to Industrial Land in Greater Noida

NRIs have been quiet but consistent buyers of industrial land in Greater Noida over the last decade — both as investment and as a launch pad for family-owned manufacturing units. The legal framework is friendlier than most people realise. This guide explains exactly what an NRI buyer needs to do, from FEMA compliance to GNIDA transfer to long-distance management.

TL;DR — NRIs have been quiet but consistent buyers of industrial land in Greater Noida over the last decade — both as investment and as a launch pad for family-owned manufacturing units. The legal framework is friendlier than most people realise.

What FEMA allows

Under the general permission of FEMA, an NRI may acquire any immovable property in India other than agricultural land, farmhouse and plantation property. Industrial land, commercial property, residential property — all permitted without RBI approval, provided funds are routed through NRE, NRO or FCNR accounts.

Funding the purchase

NRE account: funds repatriable, ideal for serious investors. NRO account: funds non-repatriable beyond annual limits. FCNR: foreign currency deposits. Loan financing: Indian banks lend to NRIs against industrial property at standard LTV (60–70%), repayable from NRE/NRO inflows or rental income.

Documents NRI buyers need

Passport with valid visa or OCI/PIO card. PAN card (mandatory for any property transaction over ₹10 lakh). Aadhaar if available — useful for digital KYC. Overseas address proof. Bank statements for NRE/NRO accounts showing source of funds. Recent photographs.

Power of Attorney — the operational backbone

Most NRI buyers cannot fly down repeatedly. A well-drafted Power of Attorney (POA) in favour of a trusted family member or professional in India is essential. POA must be executed at the Indian Consulate abroad (or in India during a visit), adjudicated for stamp duty, and registered at the sub-registrar in Greater Noida before use.

POA should be specific (not general) — list the exact plot, the transactions permitted (sale agreement, payment, registration, mutation, authority transfer), and an expiry date or revocation clause.

Repatriation of sale proceeds

If funds were brought in through NRE/FCNR, sale proceeds (up to original investment) are freely repatriable. Capital gains can be repatriated up to USD 1 million per financial year per NRI, subject to RBI guidelines and tax compliance. Form 15CA/CB filing is required for repatriation through authorised dealer banks.

Tax considerations

TDS on sale by NRI is 20% (long-term capital gain) or as per income-tax slab (short-term) — buyer is liable to deduct. NRIs can apply for lower-deduction certificate under Section 197 if actual liability is lower. Indian rental income is taxable in India; treaty benefits may apply depending on country of residence.

Frequently Asked Questions

Can an NRI buy GNIDA leasehold land?
Yes. GNIDA permits NRI transfer with standard documentation. Authority transfer fee and process is the same as for resident buyers.
Do I need RBI approval?
No. General permission under FEMA covers industrial and commercial property purchase by NRIs and OCIs.
Can my POA holder be anyone?
Yes, but choose carefully — a POA gives wide powers. Most NRI clients appoint a close family member or a senior professional. The POA can be limited to specific actions only.
Can OCI cardholders buy industrial land?
Yes. OCI is treated on par with NRI for property purchase under FEMA.
Do you assist with end-to-end NRI transactions?
Yes. I have handled NRI industrial transactions from initial site selection through POA, registration, authority transfer, tax filings and ongoing asset management.

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