Short answer: Yes, NRIs and OCI cardholders can buy residential and commercial plots anywhere in India, including Indore’s Super Corridor, without prior RBI approval, using an NRE, NRO, or FCNR bank account for payment. The main restriction under FEMA is that NRIs cannot purchase agricultural land, farmhouses, or plantation property, categories that do not apply to a RERA registered residential plot layout.
Indore’s Super Corridor has become a genuine draw for NRI buyers, both those planning an eventual return to Indore and those treating it purely as a long term investment. Buying from abroad adds a layer of process most first time NRI buyers have not dealt with before, banking channel requirements, PAN documentation, and often a Power of Attorney if you cannot travel for the transaction. This guide walks through exactly what is required.
What NRIs can and cannot buy
Under FEMA and RBI regulations, NRIs and OCI cardholders can purchase residential and commercial property in India without prior approval, and there is no cap on how many properties you can own. The restriction applies specifically to agricultural land, farmhouses, and plantation property, categories a RERA registered plotted residential layout does not fall into, which is why buying into a project like Drushika Imperial or The Heera Residency does not trigger this restriction.
The banking channel requirement
Payment must go through proper banking channels using an NRE, NRO, or FCNR account. FEMA explicitly prohibits payment by traveller’s cheque, foreign currency notes, or any other informal channel, so the account type you use matters for both legal compliance and how easily you can later repatriate the funds if you sell.
| Account type | Best used for | Repatriation on resale |
|---|---|---|
| NRE account | Income earned abroad | Freely repatriable, up to two residential properties |
| NRO account | Income earned in India, such as rent | Up to USD 1 million per financial year, with a CA certificate |
| FCNR account | Foreign currency deposits, reduces exchange rate risk | Funds usable for approved property purchases |
The five step buying process
| Step | What it involves |
|---|---|
| 1. PAN card | Compulsory for any property transaction in India, apply early since processing from abroad takes longer |
| 2. Bank account | Open or use an existing NRE, NRO, or FCNR account for all payments |
| 3. Due diligence | Verify the project’s RERA number on rera.mp.gov.in and confirm title and IDA sanction, the same checks any buyer should do |
| 4. Power of Attorney | If you cannot travel to Indore for registration, a registered Power of Attorney lets a trusted representative sign on your behalf |
| 5. Registration | Sale deed registration and stamp duty payment, 10.5 percent combined in Madhya Pradesh, completed either by you or your Power of Attorney holder |
Why RERA registration matters even more for NRI buyers
Buying remotely means you cannot easily visit the site to check progress, which makes RERA registration and IDA sanction more important, not less. A registered project has a legal possession timeline and a regulator you can escalate to if something goes wrong, protection that matters more, not less, when you are managing a purchase from another country and relying on documentation and a representative rather than your own regular site visits.
Compliance risk to take seriously
FEMA violations carry real penalties, reported cases have involved penalties up to three times the transaction value for prohibited purchases like agricultural land. This is not a reason to avoid buying, residential plots are explicitly permitted, but it is a reason to be precise about what category of land you are actually buying and to get that confirmed in writing as part of your due diligence.
Frequently asked questions
Can an NRI buy a residential plot in Indore without visiting India?
Yes, through a registered Power of Attorney given to a trusted representative in India, who can complete site visits, sign documents, and register the sale deed on your behalf.
Which bank account should an NRI use to buy property in India?
An NRE account is generally best if the funds come from income earned abroad, since it allows free repatriation later. An NRO account is used for funds from Indian income sources, with repatriation capped at USD 1 million per financial year.
Can NRIs buy agricultural land in Indore?
No, agricultural land, farmhouses, and plantation property are not permitted purchases for NRIs under FEMA without specific RBI approval. Residential and commercial plots do not fall under this restriction.
To start the process for a Drushika Super Corridor plot as an NRI buyer, contact the Drushika Real Estate team.