Yes. NRIs and PIOs are permitted to purchase residential and commercial property under FEMA. The only restriction is on agricultural land and farmhouses, which require special RBI permission.

TDS on property purchase: Buyer must deduct TDS at 20% and deposit to the government.
Capital gains tax: Short-term gains taxed as per income tax slab. Long-term gains taxed at 12.5% from 2024 onwards.

NRIs can repatriate up to USD 1 million per financial year from property sales, subject to FEMA compliance and applicable taxes.

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