NRI Guide to Buying an Apartment in Budigere Cross 2026

By Arpan, Investment Analyst · Published 23 Jul 2026 · Last updated 23 Jul 2026

Compiled from FEMA 1999 regulations, RBI circulars and the K-RERA portal, July 2026.

NRI guide to buying apartment in Budigere Cross 2026

Non-Resident Indians can freely purchase residential property anywhere in India, including Budigere Cross, without needing prior approval from the Reserve Bank of India. The purchase must be funded through normal banking channels — NRE, NRO or FCNR accounts — and certain categories of land are off-limits, but a residential apartment is straightforward under FEMA 1999.

This guide walks through every step: who qualifies, which bank accounts to use, how to get a home loan, what TDS and repatriation rules apply, and how to use a Power of Attorney when you cannot be present at registration. Each section quotes the applicable rule so you know where to verify.

The legal framework is stable, but rates and limits are updated periodically. Confirm current figures with your banker or CA before signing.

Who Can Buy — FEMA Rules at a Glance


Category Can buy residential flat? RBI approval needed?
NRI (Indian national, ordinarily resident outside India)Yes — freelyNo
OCI (Overseas Citizen of India)Yes — on par with NRINo
PIO (Person of Indian Origin, no OCI card)Yes — with declarationNo (file Form IPI 7)
Foreign national (not of Indian origin)Only on long-stay visa (not purchase)Yes — mandatory prior approval

Agricultural land, plantation property and farmhouses cannot be purchased by NRIs without RBI permission — residential apartments are not in this restriction. (FEMA 1999, Schedule I, Regulation 3.)

NRE, NRO and FCNR: Which Account to Use


Account type Currency held Repatriable? Use for property purchase?
NRE (Non-Resident External)INR (converted from foreign currency)Fully repatriable (principal + interest)Yes — preferred route
NRO (Non-Resident Ordinary)INRUp to USD 1 million per financial year (with CA certificate)Yes — for Indian-sourced income
FCNR (Foreign Currency Non-Resident)Foreign currency (USD, GBP, EUR etc.)Fully repatriableVia conversion to INR for payment

All property payments must flow through an authorised dealer bank (AD bank) in India — cash transactions are not permitted. (RBI Master Direction on Non-Resident Foreign Account, 2016.)

Home Loan for NRIs in 2026


Most major Indian banks — SBI, HDFC, ICICI, Axis and Kotak — offer dedicated NRI home loan products. The broad parameters in 2026:

Parameter Typical range (NRI home loans, 2026)
Loan-to-value (LTV)Up to 80% of property value (RBI ceiling)
Interest rate~8.75%–9.5% p.a. (floating, repo-linked)
Loan tenureUp to 20–25 years (varies by bank and age)
EMI repayment accountNRE or NRO account (no cash repayment)
Income consideredForeign-currency income (salary slips, overseas bank statements)
Eligible currenciesUSD, GBP, EUR, AED, SGD and others accepted by lender

Rates as of July 2026; are subject to RBI repo rate changes. Compare offers from at least two lenders before committing. Check the RBI website for updated Master Directions on NRI lending.

Tax benefit note: Section 24(b) of the Income Tax Act allows a deduction on home-loan interest on a self-occupied property (up to ₹2 lakh per year under the old tax regime). An NRI who pays tax in India can claim this; check applicability with a tax adviser.

TDS and Tax on NRI Property Transactions


TDS rules differ depending on whether you are buying a new flat from a developer, or buying from or selling to a resident/NRI:

Transaction TDS obligation Rate
NRI buys from resident developer (new flat)Developer is resident — no TDS deducted by buyerNil (from buyer’s side)
NRI sells to resident buyer (resale)Resident buyer must deduct TDS at source20% + cess (LTCG) or 30% + cess (STCG)
NRI buys from another NRI (resale)NRI buyer must deduct TDS20% + cess (LTCG) or 30% + cess (STCG)
Rental income received by NRITenant deducts TDS from rent30% flat (Section 195)

LTCG = property held >24 months; STCG = held ≤24 months. TDS rates include surcharge and education cess. An NRI can apply for a lower TDS certificate from the Income Tax officer if actual gain is lower. (Income Tax Act, Section 195 and Section 196C.)

Repatriation, PoA and Documents


Repatriation of sale proceeds: If the original purchase was funded from an NRE or FCNR account, the entire sale proceeds (principal) are repatriable without a cap. If funded from an NRO account, up to USD 1 million per financial year can be repatriated after obtaining a CA certificate in Form 15CA/15CB and paying applicable taxes.

Power of Attorney (PoA): NRIs who cannot be in India for registration can execute a General or Special PoA in their country of residence. The PoA must be notarised by a Notary Public there and then apostilled (for countries in the Hague Apostille Convention) or attested by the Indian Embassy. The PoA holder then signs at the Sub-Registrar office on your behalf. Verify that your developer and lender accept a PoA holder — most do, but practices vary.

Documents the NRI buyer needs:

  • Valid Indian passport (or OCI card for OCI holders)
  • Valid visa page / OCI / PIO documentation
  • PAN card (mandatory for any property transaction in India)
  • Overseas address proof (utility bill / bank statement from country of residence)
  • NRE / NRO bank account details (for fund source declaration)
  • Employment / income proof in country of residence (for home loan)
  • Verified K-RERA registration number for the project

Sattva Aangane for NRI Buyers


Sattva Aangane NRI investment Budigere Cross

Sattva Group’s Sattva Aangane is a pre-launch gated community on Old Madras Road, Budigere Cross — 10.5 acres, 3 BHK configurations and possession from 2029. For an NRI investor, the under-construction status means a lower entry point and staged construction-linked payments, which align well with an NRE/NRO account structure and an NRI home loan.

The project sits within the Bengaluru tech-corridor catchment (ITPL, Brigade Tech Gardens, Prestige Shantiniketan within 8–15 km), giving it genuine rental demand from IT professionals and a strong resale market when you decide to exit. Contact the sales team to get the current cost sheet and confirm the K-RERA registration number before proceeding.

Visit Sattva Aangane to download the brochure and schedule a virtual site tour if you are overseas.

Frequently Asked Questions


1.Can an NRI buy an apartment in Budigere Cross without RBI permission?

Yes. Under FEMA 1999, an NRI (Indian national ordinarily resident outside India) and an OCI can purchase residential property in India without any prior RBI approval. The only condition is that payment must flow through an authorised bank account — NRE, NRO or FCNR.

2.Which bank account should an NRI use to pay for a flat in India?

An NRE account is the most convenient because it is funded with foreign-currency remittances and is fully repatriable. An NRO account can also be used, but repatriation of NRO funds is capped at USD 1 million per financial year and requires a CA certificate. Cash payments are not permitted for property transactions.

3.Can an NRI get a home loan in India for a Budigere Cross apartment?

Yes. Major Indian banks (SBI, HDFC, ICICI, Axis) offer NRI home loans of up to 80% LTV, with tenures of up to 20–25 years. Foreign-currency income (salary slips, overseas bank statements) is accepted as income proof. EMI repayment must be through an NRE or NRO account.

4.What is the TDS when an NRI sells a flat in India?

When an NRI sells a property to a resident Indian buyer, the buyer must deduct TDS at 20% (plus cess) on long-term capital gains (property held more than 24 months) or 30% (plus cess) on short-term gains. The NRI can apply to the Income Tax officer for a lower TDS certificate if actual gains are less than the gross sale price.

5.Can an NRI use a Power of Attorney for property registration?

Yes. An NRI can appoint a trusted person in India through a General or Special Power of Attorney, executed in the country of residence, notarised and apostilled (or attested by the Indian Embassy if the country is not in the Hague Apostille Convention). The PoA holder can then sign at the Sub-Registrar office on the NRI’s behalf.

6.How can an NRI repatriate the sale proceeds of an Indian property?

If the flat was purchased using an NRE or FCNR account, the sale proceeds (principal amount) are fully repatriable without a cap. If funded through an NRO account, up to USD 1 million per financial year can be repatriated after obtaining a CA certificate in Form 15CA/15CB and paying applicable capital-gains tax. Transfer must be done through an AD bank in India.

Conclusion


Buying an apartment in Budigere Cross as an NRI is legally straightforward: FEMA permits it without RBI approval, Indian banks lend against foreign-currency income, and a Power of Attorney handles the registration when you cannot be present. The key discipline is keeping the payment trail through authorised bank channels, verifying the project on K-RERA before signing, and planning for TDS and repatriation at exit.

Get a CA familiar with FEMA and NRI taxation involved early — they will flag jurisdiction-specific nuances (such as double-taxation avoidance treaty benefits) that vary by your country of residence.

To review the current cost sheet, RERA details and floor plans for Sattva Aangane, contact the project team and request an NRI-specific briefing.

Sattva Aangane Blog


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