NRI Guide to Buying Property in Sarjapur Road Bangalore 2026

By Arpan, Property Finance Specialist · Published 15 Jul 2026 · Last updated 15 Jul 2026

FEMA, TDS and tax figures are indicative 2026 estimates — verify current rules with a FEMA-qualified chartered accountant and your lender before you transact.

Sarjapur Road has seen consistent interest from NRI buyers in 2026, drawn partly by the concentration of IT-sector employment on the Outer Ring Road corridor and partly by the corridor's price position relative to more central localities. The process for NRIs is similar to that for resident buyers but carries a few additional layers: FEMA eligibility confirmation, PAN-linked documentation, TDS compliance that varies by whether the seller is resident or non-resident, a power of attorney if signing remotely, and repatriation conditions when you eventually sell. This guide covers each of those layers so you go into a booking conversation with the right questions ready.

NRI Property Purchase — At a Glance

Figures indicative, as of July 2026 — verify with a chartered accountant and the relevant tax authority.

Who Can Buy Property in India? FEMA 1999 Basics

Under the Foreign Exchange Management Act 1999 and the regulations framed under it, Non-Resident Indians and Overseas Citizens of India can buy any residential or commercial property in India without needing prior Reserve Bank of India approval. The purchase can be made from a developer (in a pre-launch or new-launch project) or from a resale seller, and can be funded through inward foreign remittances, NRE or NRO bank account balances, or a home loan from an Indian bank.

The restriction applies to agricultural land, plantation property and farmhouses: these require specific RBI permission, which is rarely granted. A standard apartment in a gated community project developed by Godrej Properties — such as Godrej Verano on Sarjapur Road — falls squarely in the permitted residential category with no additional approval needed.

Documents an NRI Needs Before Booking

The documentation list is broadly the same as for a resident buyer, plus NRI-specific identity and remittance proof. Have the following ready before you sign a booking form or pay a booking amount.

• PAN card: Mandatory for all property transactions. If you do not have one, apply via Aadhaar-based e-KYC (for those with Aadhaar linked) or through an NSDL or UTIITSL PAN centre. PAN is also needed to open an NRE or NRO account.
• Passport and OCI/visa: Current passport plus the OCI card or the relevant visa or residency permit of your country of residence, for KYC at the developer and the bank.
• NRE or NRO bank account: Route the purchase payment and any loan disbursement through one of these accounts. The TDS deposit (Form 26QB) and eventually the resale proceeds also move through them.
• Address proof (Indian and overseas): Utility bill, bank statement or government-issued document for both your Indian and overseas addresses.
• Income proof for loan: If taking an NRI home loan, the lender will ask for overseas salary slips (typically three to six months), employment contract or appointment letter, overseas bank statements and a tax return equivalent from your country of residence.
• RERA registration number: Before paying any amount, verify the project on the Karnataka RERA portal. The developer must provide the RERA number; do not proceed without it.

NRI Home Loan: Eligibility, LTV and EMI

State Bank of India, HDFC Bank, ICICI Bank and Axis Bank each offer NRI home loan products with online application workflows suited to overseas applicants. Indicative floating rates as of mid-2026 are broadly aligned with resident rates at around 8.5–9.5% per annum, though the exact rate depends on the lender, loan amount and your income and employer profile. Confirm the current rate directly with each lender before you compare offers.

Loan-to-value for NRI borrowers is typically 70–80% of the property value, slightly below the resident maximum, so plan for a down payment of 20–30% plus the stamp duty, registration and GST charges described in the home loan and stamp duty guide. Repayment must flow through your NRE account (funded from overseas income) or NRO account, or via direct inward remittance — it cannot come from income earned in India unless separately structured.

At information sessions at a Sarjapur Road preview in July 2026, NRI buyers most frequently asked about two things: whether EMI mandates could be set up from an NRE account without the borrower being physically present in India, and whether prepayment from overseas income would attract any penalty. Both are generally permitted by major lenders, but the specific terms vary, so read the loan sanction letter before you sign.

TDS Rules: Buying from a Resident or NRI Seller

The TDS obligation falls on the buyer, and the rate depends on whether the seller is a resident Indian or an NRI. Mishandling this step can create a demand from the Income Tax Department against the buyer, so confirm the position with a tax advisor before you transfer funds.

Buying from a resident Indian (as with a new-launch developer): Deduct TDS at 1% of the consideration under Section 194-IA if the property value is ₹50 lakh or more. Deposit via Form 26QB on the Income Tax portal before registration. The developer receives the balance 99%.

Buying resale from an NRI seller: The buyer must deduct TDS under Section 195 at the capital gains rate applicable to the seller — broadly 20% (with indexation, for long-term capital gains on property held more than two years) or 30% (for short-term gains), plus applicable surcharge and cess. The effective rate including surcharge can reach 20.80% or higher depending on the seller's income. The NRI seller can apply for a lower-deduction certificate from the Income Tax Department if their actual tax liability is lower, but the buyer cannot reduce the withholding unilaterally. Engage a chartered accountant with Section 195 experience before paying.

Power of Attorney: Buying Without Travelling to India

NRIs who cannot travel to India for signings can appoint a trusted close relative as Power of Attorney holder to sign documents, execute the builder-buyer agreement, attend registration and complete KYC steps on their behalf. The POA document must be drafted to specifically cover each act the holder is authorised to perform. After drafting, it must be notarised in your country of residence, attested by the Indian embassy or consulate, and then adjudicated (stamped) in India before it can be used.

Practical limits to be aware of: some lenders do not accept POA for the initial home loan application step and require the borrower to appear in person or through video KYC. The sub-registrar office requires either the principal or the POA holder to be physically present for the sale-deed registration. Confirm in writing with the developer and your lender which steps require your personal presence before you appoint a POA, so you can plan any India visit accordingly.

Repatriation of Sale Proceeds

When you sell the property, you can repatriate the net sale proceeds subject to RBI conditions under FEMA. The amount repatriated cannot exceed the foreign exchange originally brought in to purchase the property (or the overseas loan repayment amount), and is capped at USD 1 million per financial year from an NRO account. Capital gains tax, surcharge and cess must be paid in India before repatriation, and the NRI is typically required to file an Indian income tax return for the year of sale.

The transfer requires a chartered accountant certificate (Form 15CB) and a self-declaration (Form 15CA) submitted to the bank before the international transfer is processed. If the original purchase was funded via NRE account (clean overseas money), the repatriation path is usually more straightforward. Engage a FEMA-experienced chartered accountant well before the sale so the documentation is prepared and taxes are structured correctly.

Tax on Rental Income and Capital Gains for NRIs

Rental income from property in India is taxable in India for NRIs at applicable slab rates. If the tenant is a company or is otherwise aware of the NRI status, TDS at 30% is typically deducted on the gross rent, and the NRI files an Indian return to claim a refund if the actual tax is lower. Deductions including the standard deduction of 30% on net rent and home-loan interest under Section 24(b) apply in the same way as for residents.

Capital gains on sale are taxed at 20% (with indexation benefit) for long-term gains and at income-tax slab rate for short-term gains. India's Double Taxation Avoidance Agreements with many countries can reduce or eliminate double taxation on the same income, but the specific treaty terms differ by country. If the rental income or capital gain is significant, consult a tax advisor in both India and your country of residence before you file.

Frequently Asked Questions

Conclusion

Buying property in Sarjapur Road as an NRI is legally straightforward under FEMA, but the additional steps — RERA verification, TDS compliance matched to the seller's status, POA notarisation and FEMA-compliant repatriation planning — reward early preparation rather than last-minute scrambling. Keep your PAN, NRE/NRO account and income documents ready, verify the RERA number before paying anything, confirm your TDS obligation with a chartered accountant, and structure repatriation before you sell. To review current unit options and pricing, see the price page and floor plans, then schedule a call to discuss NRI-specific documentation and payment timelines with the sales team.