Buying in Goa,
from abroad.
NRIs/OCIs are generally permitted to acquire residential and commercial immovable property in India, subject to FEMA/RBI rules. Agricultural land, plantation property, and farmhouses are restricted. Payments should be routed through permitted banking channels such as NRE/NRO/FCNR or other permitted modes under current FEMA/RBI rules.
Originally published as “The NRI Guide to Buying Property in Goa: Legal & Tax Framework”. Updated 11 October 2026. The original guide is retained here; references to rates, rules and market conditions should be checked against current sources and independent advice.
Goa is one of the most sought-after locations for Non-Resident Indians (NRIs) looking to secure holiday homes, retirement estates, or long-term investments. However, cross-border real estate transactions are regulated by the Reserve Bank of India (RBI) under the Foreign Exchange Management Act (FEMA).
NRIs/OCIs are generally permitted to acquire residential and commercial immovable property in India, subject to FEMA/RBI rules. Agricultural land, plantation property, and farmhouses are restricted. Foreign nationals and certain categories of buyers should obtain specific legal advice.
Payment Protocols and Repatriation of Proceeds
Payments should be routed through permitted banking channels such as NRE/NRO/FCNR or other permitted modes under current FEMA/RBI rules. Payments cannot be made using foreign currency notes directly in India.
When selling the property, the repatriation of sale proceeds back to your foreign account is permitted under these guidelines:
- Up to USD 1 Million per financial year can be repatriated from your NRO account.
- For residential properties purchased using foreign remittances or NRE accounts, the principal amount can be repatriated freely for up to two properties.
- A Chartered Accountant is typically engaged to verify the transaction, calculate capital gains tax, and submit Forms 15CA and 15CB to the bank.
The RERA Protective Layer
The Real Estate (Regulation and Development) Act, 2016 (RERA) governs under-construction projects. Under-construction properties are typically required to carry a RERA registration number where applicable. The central RERA framework does not generally prescribe a fixed brokerage percentage; commission is usually contractual, subject to applicable state rules and written agreement. We coordinate checks of available Goa RERA records, developer disclosures, uploaded project details, and applicable approvals with independent professionals where relevant before presenting a property.
Terms in this guide
- Foreign Exchange Management Act (FEMA)
- The central Indian legislation regulating cross-border transactions, foreign exchange, and property acquisition by non-residents.
Further questions.
Can an NRI buy a villa built on Orchard (agricultural) land?
Only if the land has been legally converted to "Settlement" classification under a Sanad certificate prior to construction. Buying a villa built on unconverted Orchard land poses major legal risks and may create approval, zoning, transferability, and compliance risks.
What is the tax rate on property rental income for NRIs?
Rental income earned by an NRI is taxable in India. Rental payments to an NRI may attract withholding under Section 195 at rates in force, subject to surcharge, cess, treaty position, and any lower/nil deduction certificate.
Do NRIs need a local Power of Attorney (POA)?
A local POA is not mandatory but highly recommended to coordinate registration, utility setup, and builder checks. The POA should be properly executed, notarized/attested where applicable, stamped/adjudicated, and accepted under applicable registration requirements.
This is the original June 2026 guide, presented as archive reading. For current requirements, consult the Goa Registration Department, the Reserve Bank of India. Indicative prices, yields, rates and rules in the archive are not current quotations or a property-specific conclusion.
From the original Silver Sands guide archive.