In the case of NRIs there is a general permission to acquire any immovable property (other than agricultural land, plantation or farm-house property) by way of purchase, provided the payment is made out of foreign exchange inward remittance or any Non Resident bank account in India, i.e. Non Resident External Account - NR (E), Foreign Currency Non Resident Account - FCNR or Non Resident Ordinary Account - NRO account. Although immovable property is not defined, the same will include:
Real estate boom in India has activated many dormant areas to become super-active. Surajkund is currently going through this phase of activation and is ready to cross the threshold in order to emerge as a real estate destination. This boom is further strengthened by the relaxation of Foreign Direct Investment (FDI) in the real estate and construction sector.